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This role will be responsible for loan asset management, servicing, surveillance, and mortgage ratings for a portfolio of commercial real estate loans managed by MetLife Investment Management’s Chicago Regional Office. In addition, this role will also assist loan producers with closing new loan originations.
Key Responsibilities:
Loan Asset Management
- Responsible for loan asset management and servicing matters including payoffs, prepayments, lease reviews, SNDA’s, reserves/draw requests, escrows, cash management, loan assumptions, substitutions, property releases, financial reporting, inspections, post-closing items, and other borrower requests on assigned loan portfolio.
- Coordinate and assist with mortgage modifications and restructurings.
Loan Closings
- Support mortgage originators on new loan transactions and manage the closing process, including allocation, rate lock, coordinating third party consultants, due diligence, reviewing loan documents, etc.
- Complete loan set up and confirm data accuracy across accounting, third party servicing and management information systems.
Surveillance
- Monitor loan/property performance, monitoring problem loans and assist on note sales.
- Prepare annual mortgage ratings including OSAR financial analysis, market research, and valuation of commercial real estate.
Communication
- Partner with mortgage originators, loan managers, analysts, risk management (internal and external), internal departments, third-party servicers, appraisers, regional architects, third party vendors, and legal counsel (in-house and external) on routine tasks and ad-hoc requests.
Essential Business Experience and Technical Skills:
Required:
- 5+ years of experience with loan documents including loan agreements, promissory notes, deed of trust, guarantees, escrow agreements, leases and SNDA’s.
- 5+ years of experience with commercial real estate valuation and market fundamentals.
- Proficiency with ARGUS, Word, Excel, and PowerPoint.
- Team oriented with excellent communication, organizational and time management skills.
- ·In order to post for this position, you need the proper work authorization to work in the country where the position is located and does not require relocation assistance.
Preferred:
- Bachelor’s degree in an applicable business-related field required, MBA or Masters in Real Estate equivalent preferred.
- 5+ years of commercial real estate experience with various property types including office, retail, industrial, multi-family and hotels preferred.
Source: MetLife Real Estate Career Page
