Associate, Loan Administration

SitusAMC•Hanover, NY

17h

About The Position

SitusAMC is looking for an Associate level candidate to support the Senior Loan Administrators in the day-to-day administration of a diverse portfolio of CRE loan and debt financings including construction/renovation loans, syndications, CMBS, secured and unsecured debt transactions, multi-currency and project financings. As a member of Loan Administration, you will work alongside colleagues in Asset Management, Portfolio Management and Servicing, and see the full breadth of activities required to manage a diverse, complex commercial real estate loan portfolio.

Requirements

Bachelor’s degree in related field or equivalent combination of education and experience
Minimum of 3+ years of industry and/or relevant experience
Knowledge of cash management and waterfalls preferred
Excellent reading and comprehension skills
Ability to communicate effectively both written and verbal
Strong organizational and time management skills
Ability to work independently on projects and also collaborate ‘face to face’ as a team player
Ability to work in fast-paced environment running multiple tasks under tight deadlines
Strong analytical, problem solving and computer skills with a thorough knowledge of Excel
Excellent written, verbal and electronic communication skills with attention to detail
Work in a team environment yet think independently and generate quality work product with little supervision
Manage multiple priorities and meet multiple deadlines
Ability to approach work from more of a “transaction” basis versus “task” basis

Responsibilities

Support Senior Loan Administrators in the day-to-day administration of assigned loans, including communication with Borrowers and Lenders/Investors and Client
Analyzing and interpreting loan documents and providing advice and direction to the Asset Management Team and Loan Operations teams
Monitoring reserve and escrow accounts to ensure borrower compliance with governing documents including provisions related to budget, taxes, insurance, collateral and future funding
Reviewing disbursement requests, monitoring draw procedures, managing flow of funds mechanics and internal loan administration
Monitoring of construction loans including review of budgets, back-up documentation, title updates, and inspection reports. Periodic travel to inspect construction projects.
Performing monthly waterfall calculations including the monitoring of income, operating budgets and leasing status
Coordinate new portfolio and new loan servicing including collection of all necessary loan documents, obtaining contact information for all relevant parties and ensuring accurate boarding in the loan servicing system.
Reconcile and review various reports including billing statements, release statements, payoff statements and remittance reports as required to ensure Hanover’s high standards are achieved in terms of quality, accuracy and completeness.
Update and monitor loan specific information in the loan servicing system
Flexibility in schedule with respect to meeting time sensitive client needs
Ability to work independently on projects and collaborate ‘face to face’ as a team player.
Handle the collection and remittance of payments
Verification and payment of taxes and insurance
Calculating property/unit release prices and monitoring releases