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The Loan Asset Manager is responsible for the coordination, execution and delivery of workflow which impacts accurate and timely completion of loan origination and servicing functions. The position requires organization, attention to detail and a heightened awareness of timelines, complemented by a real estate-oriented technical skill set. Experience with complex legal documents supporting real estate transactions is a must. Loan Asset Managers will support a team of production and regional office management colleagues that may or may not be physically proximate. Team members are expected to be accountable, exhibit initiative, and employ an ownership mindset in all responsibilities as the success of the team’s execution is dependent upon loan asset managers.
Key Responsibilities:
Loan Closing:
- With support of in-house and outside counsel, negotiates, assembles and processes accurate mortgage and loan closing documents consistently, in a timely manner, and in compliance with MIM’s policies.
- Work collaboratively with deal team, in house and outside legal and senior management ensuring closing documents accurately reflect loan approval.
- Collaborate with mortgage team members, brokers, property owners, attorneys and other transaction counterparts to perform due diligence including, but not limited to, legal description review and reconciliation, review of exceptions to title policies, easements, supply agreements, and other agreements that potentially impact loan collateral.
- Verifies borrower information, including trust agreements, corporation resolutions, lease agreements, organizational documents, etc. is accurate and current.
- Responsible for title orders, obtaining and monitoring loan payoffs, scheduling and coordination of loan closings controlling original loan documents, and providing proactive communication on status.
- Responsible for OFAC and Know Your Customer due diligence.
- Assist with the engagement and fulfillment of payment for services pursuant to legal services, and third-party due diligence services and/or reports.
- Responsible for platting collateral based on legal description.
- Responsible for all post-closing follow up with respect to any outstanding issues, including receipt of recorded documents and accurate title policy with endorsements.
- Analyzes and verifies accuracy and reasonableness of terms set forth in loan applications.
Loan Asset Management – Servicing:
- Manage a portfolio of loans for which duties include, but are not limited to, servicing functions such as interest rate reviews, partial releases, collateral substitutions, easements, subordinations, consents, and non-disturbances, re-inspection reports, amendments, and loan payoff requests.
- Conduct analysis of borrower requests, in collaboration with internal and external counterparts, and complete narrative recommendations for approval, through the MIM portfolio management system.
- Facilitate documentation and completion/closing of such loan servicing actions.
- Coordinate due diligence and data collection efforts related to portfolio management.
- Establish and enhance relationships with our customers as an ambassador for MIM fielding borrower inquiries/requests and increasing potential for additional loan opportunities by providing superior customer service.
- Recognize business concerns, analyze, and develop solutions which are presented to deal team leaders and senior management.
- Fully utilize the MIM portfolio management systems to ensure that up to date and accurate loan maintenance is in concert with company policies and procedures.
- Assistance with financial statement spreading, covenants, ratings, inspections, portfolio surveillance, filing, and other ad hoc requests, as needed.
Essential Business Experience and Technical Skills:
Required:
- At least 2-5 years relevant experience.
- Experience in real estate finance, including preparing loan documents, closing loans and loan servicing.
- Knowledge of complex loan terms.
- Ability to plat collateral from legal description.
- Results orientated team player. Emphasis on proactive communication skills (both oral and written) and ability to handle multiple assignments.
- Strong quantitative and computer skills, specifically Excel, Word, and Nitro.
- Great attention to detail and accuracy.
- Team oriented with strong work ethic and time management skills.
Preferred:
- Bachelor’s degree in related field (agriculture, or business/finance) or equivalent experience; MBA a plus.
- Preference given to candidates who have relevant mortgage accounting and loan closing experience, as well as strong knowledge of Excel, Word, PowerPoint, and Nitro.
Source: MetLife Real Estate Career Page
