This position is responsible for the management of a portfolio of medium-to-large balance commercial real estate loans. Additionally, this position will be required to complete ongoing surveillance of loans and collateral within the FNMA portfolio as well as any other special surveillance tasks, as needed.
- Responsible for preparing comprehensive business plans and implementing workout or liquidation recommendations. This involves committee presentations, communication with borrowers, Agency representatives and interface with counsel.
- Analysis of property level cash flows to estimate property valuation, market income and expenses and cap rates.
- Evaluate borrower’s current financial situation to determine the most logical liquidation strategy that will maximize recovery as efficiently as possible.
- Interface with HUD and counsel in the application of workout remedies and loan assignment claims.
- Interface with FNMA in the application of workout strategies, enforcement of property condition issues, forbearance requests and extensions.
- Comply with internal and external policies and procedures as well as Agency program guidelines.
- Prepare and maintain all necessary reporting requirements.
- Interface with HUD, counsel and India while pursuing assignments of HUD loans, as needed.
What someone will need to be successful in this role
- Minimum three years prior experience in a similar position.
- Bachelor’s degree or equivalent.
- Adherence to Berkadia’s policies and exhibit proficiency and understanding of Berkadia’s Values and position-specific skills.
- A high level of competence in Microsoft Office including Outlook, Word and Excel, and ability to work with other software including mortgage industry specific applications such as McCracken Strategy, intranet-based workflows, etc.
- Strong customer service focus within the context of a risk management/asset management role.
- Excellence in communication skills, including the ability to communicate clearly and succinctly both verbally and in writing with all levels of an organization both internal and external.
- Strong organizational skills and ability to multitask in a fast-paced environment with competing priorities.
- Outstanding attention to detail.
- Ability to analyze property operating statements and rent rolls for the purpose of evaluating asset performance relative to loan requirements or underwritten metrics.
- Ability to manage expectations, including those of stakeholders with conflicting priorities or objectives.
- A can-do, proactive attitude and ability to work autonomously with confidence while escalating issues when appropriate, as well as with team members on shared responsibilities.
Source: Berkadia Career Page
Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, offers mortgage banking, investment sales and loan servicing offerings to multifamily and commercial property owners in the United States. With over 1,300 experienced industry professionals operating out of 75 offices in primary and secondary market across the United States, Berkadia is one of the largest multifamily services firms in the country.
The company's 100% focus on the real estate multifamily sector differentiates it from its peers and has allowed it to excel at its core competency, namely providing industry-best investment sales advisory, debt placement, structured finance, private equity, and apartment advisory services.