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The Portfolio Manager – Construction and Rehab will be responsible for the performing agency portfolio consisting of Fannie Mae, Freddie Mac, HUD, and conduit loans with a large holdback component (in excess of $250k and/or an aluminum wiring abatement requirement) and will assess portfolio quality, identify areas of risk, evaluate long-term viability and performance, and proactively mitigate potential loss. Additionally, this position is responsible for ensuring Completion and Immediate repairs, Capital Improvements, Rehabilitation and Re-stabilization components are completed in a timely and satisfactory manner.
Essential Job Functions (Duties/Responsibilities)
The Portfolio Manager will have the following duties and responsibilities, including but not limited to:
- Monitor quality and performance of an assigned commercial loan portfolio.
- Review contracts, contractor requisitions, change order and draw requests.
- Ensure borrower adherence to budget, schedule, and design goals. Review process extension and/or change requests where necessary to ensure adherence to loan documents and investor requirements.
- Request and review documentation relative to any Escrowed Reserves including Replacement Reserves, Completion and Immediate Repairs, Capital Improvements, Rehabilitation, and Re-stabilization Reserves to determine and recommend release of funds.
- Loan document review and interpretation.
- Identify areas of risk and evaluate long term viability of loans.
- Responsible for completing quarterly financial analyses to evaluate projects performance and discuss with borrowers any substantial variances noted.
- Conduct physical property inspections, as required by the investor, in order to evaluate property condition, ensure completion of Completion and Immediate repairs, Capital
- Improvements, and Re-stabilization items and follow up on any deferred maintenance observed.
- Complete risk ratings as a means to proactively mitigate potential risk associated with each asset within the portfolio.
- Responsible for ensuring loans meet standards relative to final disbursements this may include Occupancy and EGI minimums.
- Request and review documentation relative to any reallocation requests, insurance losses, easements, partial releases and any other issues that may arise to determine and recommend release of funds.
Qualifications
Education: Bachelor’s degree in Construction Management, Real Estate, Engineering, Finance, Business Administration or related field preferred.
Experience: Minimum of three (3) years Construction Management or related experience with an emphasis on large construction and development projects.
Knowledge/Skills/Abilities:
- Exposure to real estate, risk and financial analysis, valuation of commercial real estate properties, underwriting or asset management, client relationship management, distressed loan workouts, capital markets and property rehabilitation
- Basic knowledge of building types, building construction and maintenance
- Experience with budget & milestone/schedule development, project management and tracking
- Strong written, spoken, presentation, and organizational skills
- Intellectual agility and interpersonal flexibility to collaborate successfully with internal and external partners
- Strong work ethic, the ability to prioritize competing work assignments and meet deadlines
- Advanced Microsoft Office Skills
- Loan servicing system experience a plus
Travel: Quarterly
Source: Arbor Realty Career Page
