Commercial Mortgage Servicing Asset Analyst

Principal Financial Group • Des Moines, IA

14h • Hybrid

About The Position

We’re looking for a Commercial Mortgage Servicing Asset Analyst to join our Commercial Mortgage Servicing team. When it comes to private debt—particularly senior mortgages and structured commercial real estate debt—the scale of Principal Real Estate Investors offers a distinct advantage. We’ve become a go-to resource for borrowers and peer lenders in the commercial real estate mortgage lending market because we can participate anywhere along the debt spectrum—which ultimately benefits our borrowers and investors. Our debt platform is vertically integrated and incorporates underwriting, closing, appraisal, engineering, research, legal, and servicing. This range of capabilities helps us control the timing and quality of every aspect of a deal we make. In this role, as a CMS (Commercial Mortgage Servicing) team member in our private debt group, you will independently manage the administration and servicing of commercial real estate loans, including risk analysis and recommending courses of action to portfolio managers or others as appropriate. Your loan portfolio will include a variety of clients including life companies, CMBS, and construction loans and wide variety of property types. Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

Requirements

• Bachelor's degree in business, business management, prelaw, finance, real estate, or related field
• Strong analytical skills and mathematical aptitude
• Excellent verbal and written communication skills required
• Strong organizational skills and ability to meet deadlines
• Proficiency with Excel, Word, and Outlook

Responsibilities

• Independently manage the direction, management, and proactive servicing of an assigned portfolio of medium to large customized commercial real estate loans for a variety of lending platforms.
• Independently perform thorough risk analysis and recommend a course of action to various parties including portfolio managers, clients, and external servicers.
• Analysis includes thorough review of borrowers, guarantors, property management companies, property operating statements, rent rolls, loan security, and loan structures.
• Assess risk and make effective recommendations while trying to provide creative solutions that meet borrower needs.
• Analyze and interpret loan documents or legal contracts
• Structure, negotiate, document, and close complex servicing transactions, such as loan assumptions, collateral releases, title matters, escrow releases, lease approvals, payoff calculations, and defeasances in compliance with the loan documents and investment mandates.
• Monitor borrowers' compliance with loan documents and client requirements.
• Perform property review (operating, financial, and market performance) of loans assigned and perform compliance tests for loan covenants.
• Proactively monitor watchlist or problem loans.
• Coordinate and review loan property information with special servicing and portfolio managers to minimize potential risk and losses to lending clients.
• Review and approve monthly construction draw submissions from borrowers, including construction budget reviews and draw documentation.
• Work with borrowers to obtain all final information and make funding recommendations.

Benefits

• Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.
• Comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees