Grandbridge Asset Manager

Birmingham, AL, USA | BB&T Capital Markets

  • Industry:
    Financial Services
  • Position Type:
  • Functions:
    Financial Services Professional
  • Experience:
    7-10 years
Job Description:
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Perform, and supervise others in the performance of, loan administration duties for commercial mortgage loans on behalf of the lender, with a particular focus on the collateral (typically income-producing, real estate).Support the processing of borrower requests as well as the general enforcement of loan documents.

Essential Duties and Responsibilities:

Following is a summary of the essential functions for this job.Other duties may be performed, both major and minor, which are not mentioned below.Specific activities may change from time to time.

1. Accurately and efficiently produce required analyses of operating statements and related financial statements of commercial income-producing properties and sponsors, including identifying and researching variances, normalizing and otherwise adjusting the statements, per lender requirements. Review, correct and approve operating statement analyses.

2. Perform (or review third-party) property inspections to verify sufficient maintenance of collateral, identify and report life safety issues, and other items of deferred maintenance. Prepare and transmit the resulting reports to the lender in a timely fashion (per lender deadlines). Review, correct and approve the property inspection reports.

3. Analyze, underwrite and make formal recommendations regarding various borrower requests, including but not limited to requests for loan modifications, collateral releases, prepayment, maturity extensions, sales/assumptions and consent to tenant leases. Review and correct related work product. Approve the release of funds in accordance with the dollar limits set forth in the company’s policies and procedures.

4. Analyze and process borrower requests for releases of funds from various reserve accounts, including but not limited to reserves for replacing capital items, reserves for leasing commissions and tenant improvements, and holdbacks for repairs or improvements. Review and correct related work products. Approve the release of funds in accordance with the dollar limits set forth in the company’s policies and procedures.

5. Analyze and support the processing of proceeds from complex insurance loss claims. Prepare recommendations for disposition of insurance proceeds, in accordance with loan documentation and lender/investor requirements, and review and edit such recommendations. Approve actual disposition of insurance proceeds, within the dollar limits published by the head of the department, or as otherwise set out in the company policies and procedures.

6. Interface with Property Managers, Borrowers, or other paying agents in the collection of delinquent loan payments, as well as the reporting of same. Prepare formal demand letters and notices of default for review by lender or management. Direct appropriate departments in the (internal) accounting for suspense and unapplied funds. Report delinquencies to the appropriate investor/lender.

7. Assist in the accurate and timely maintenance of the company’s loan servicing system database regarding the loan accounting records, collateral-related and borrower-related records, or other relevant records. Review and approve the related work of members of the department.

8. Identify and report borrower breaches of loan document requirements. Confirm suspected findings. Mentor and train members of the department in the interpretation of loan covenants.

9. Analyze asset performance and make recommendations to management in the loan risk grading process, and the “watch list” maintenance process. Participate in presenting new grade recommendations to management.

10. Supervise and train Asset Analysts in the performance of their respective duties.

11. Assist management in the implementation of process improvement measures.

12. Assist management in ensuring regulatory and contractual compliance within the department.

Required Skills and Competencies:

The requirements listed below are representative of the knowledge, skill and/or ability required.Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

1. Bachelor’s degree or equivalent education and related training

2. Eight years of experience with commercial real estate, with at least three of those years being with finance

3. Good written and verbal communication skills

4. Ability to travel, occasionally overnight

5. Ability to efficiently and consistently produce accurate work

6. Strong working knowledge of loan accounting concepts, including interest accrual methodologies and amortization

7. Ability to read and comprehend most provisions of common commercial real estate loan documents

8. Ability to efficiently compose accurate and effective reports and written recommendations to lenders

9. Intermediate-level skills with Microsoft Excel and Microsoft Word

10. Basic-level skills with Adobe Acrobat (i.e. creation and manipulation of .PDF files)

Desired Skills:

1. Master of Business Administration from an accredited college or university or equivalent experience

2. Experience with commercial property management

3. Superior working knowledge of the commercial lending programs of Life Insurance Company lenders, Fannie Mae, Freddie Mac and CMBS conduits, including the roles and responsibilities of servicers

4. Experience in commercial mortgage loan underwriting

5. Superior ability to analyze commercial property operating statements

6. Certification (by the MBA or the GSEs) in commercial property inspections

7. Strong working knowledge of the commercial building construction process, and construction lending

8. Good working knowledge of real estate law concepts and their practical application