Commercial Real Estate Servicing Analyst
About The Position
Providing for loved ones, planning rewarding retirements, saving enough for whatever lies ahead – our policyholders count on us to be there when it matters most. It’s a big ask, but it’s one that we have the power to deliver when we work together. We collaborate and innovate – pushing one another to transform not just Pacific Life, but the entire industry for the better. Why? Because it’s the right thing to do. Pacific Life is more than a job, it’s a career with purpose. It’s a career where you have the support, balance, and resources to make a positive impact on the future – including your own. We’re actively seeking a talented Commercial Real Estate Servicing Analyst to join our Mortgage Loan Debt Portfolio Operations team in Newport Beach, CA. As a Commercial Real Estate Servicing Analyst, you’ll move Pacific Life, and your career, forward by overseeing escrow reserve and tax administration functions for the Commercial Mortgage Portfolio of Real Estate Investments.
Requirements
- 3-5 years experience in commercial mortgage loan servicing operations
- 4-year college degree, with emphasis in Accounting/Finance/Business/Real Estate, or equivalent work experience.
- Extensive user experience with one (or more) of three leading mortgage loan servicing/accounting systems used within the industry.
- Excellent customer service skills.
- Detail-oriented, analytical, and strong critical thinking and organizational skills.
- Strong verbal and written communication skills.
Nice To Haves
- Experience with escrow administration and property tax administration
Responsibilities
- Review agreements including but not limited to the Loan Agreements, Cash Management Agreements, Deposit Account Agreements and Ancillary Loan Documents.
- Review daily activity of cash managed interest-bearing accounts.
- Reconcile bank accounts monthly.
- Prepare wire disbursements as required.
- Prepare Waterfall for CMA loans.
- Prepare monthly operating expense true ups.
- Provide guidance to borrower personnel on reconciliations, cash trap, operating budgets, and analysis.
- Provide guidance and advice as solicited by the Credit Analysis Team.
- Review and interpret escrow/reserve related provisions of individual loan documents.
- Set-up insurance, capital, replacement, seasonality, debt service and other reserve/impound accounts in mortgage loan system
- Analyze and approve documents and supporting data provided by borrowers for release of funds from escrow/reserve accounts.
- Coordinate property inspections where necessary.
- Vendor oversight as applicable.
- Analyze accounts periodically according to procedures and loan documents and adjust constants as necessary.
- Audit reserves annually or as required in loan documents.
- Update and maintain Tickler information for assigned portfolio.
- Provide draw procedures and draft certifications, as required.
- Coordinate payment of third-party invoices.
- Review and monitor upcoming loan maturity dates, financial performance and loan status codes.
- Set-up taxing authorities, due dates and tax events in mortgage loan system.
- Coordinate set-up of new loans with tax service provider.
- Monitoring of payment due dates.
- Process payments to service provider to ensure property taxes are paid prior to the due date.
- Audit escrow accounts to ensure monthly impound amounts are appropriate and that the accounts are not overfunded/underfunded.
- External communication with service providers, taxing authorities, borrowers and borrower representatives.
Benefits
- Medical
- Dental
- Vision
- Wellbeing Reimbursement Account
- Paid Time Off
- Holiday Schedules
- Financial Planning Time Off
- Paid Parental Leave
- Adoption Assistance Program
- Competitive 401k savings plan with company match and an additional contribution regardless of participation
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
