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Reserve/ Payoff Analyst - Multifamily Capital Markets

Salary
Competitive
Employment
Full Time
Real Estate Field
Location
Blue Bell
 PA
Postal Code
19422
Country
United States

This job is no longer active.

Description


Newmark Knight Frank (NKF), operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading commercial real estate advisory firms. We provide a fully integrated platform of services to prominent multinational corporations and institutional investors across the globe, as well as to occupiers, owners and developers of real estate on a local, regional and national level.

 

Together with London-based partner Knight Frank and independently-owned offices, NKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.

 

The Multifamily Capital Markets platform is the preeminent source of capital solutions for multifamily owners and operators. With a nationwide presence and unparalleled expertise, a 30+ year history and a servicing portfolio of $58 billion representing in excess of 3,400 loans in 49 states. A top five Fannie Mae and Freddie Mac Lender in 2017, the Multifamily Capital Markets Group offers a full complement of GSE, FHA, Life Company and Conduit products paired with extensive multifamily, affordable, student, seniors housing and healthcare expertise. This extensive and diverse national platform provides clients with superior execution in every market across the country. 

 

Job Description:

We are seeking a Reserve/Payoff Analyst to conduct timely and accurate review of special purpose reserve requests, including but not limited to Replacement Reserves, Completion Repair Reserve, and Tenant Improvement and Leasing Commission Reserve, in full compliance with all investor, trustee, rating agency, regulatory and internal requirements, and, provide oversight of Letters of Credit provided in lieu of cash reserve deposits.  The Reserve/Payoff analyst will also assist with performing payoff calculations. This includes interpreting legal documents to determine if prepayment periods and yield maintenance calculation are mathematically accurate and follow the methodology detailed in the related loan documents. The position is located in Blue Bell, PA.

 

Essential Job Duties:

  • Clear communication skills for corresponding with borrower/ borrower representative
  • Diligent progress tracking of the reserve requests
  • Escalation of substandard work, delayed progress and/or other anomalies
  • Maintenance of the tracking database
  • Timely processing of draw packages
  • Loan Documents:  The Analyst will read, understand and effect the unique requirements of each loan relative to the reserve provisions.
  • Customer Service: As a client-facing role, the Analyst will communicate the borrower obligations required by the loan documents and provide prompts and guidance to the borrower to meet these obligations in a positive, constructive and supportive manner.
  • Compliance: The Analyst will monitor the progress and scope of repairs relative to the requirements of the loan documents, the Investor guidelines and department policy. Special attention will be paid to repair due dates.
  • Communications: The Analyst will provide systematic outreach to borrowers via email and phone work consistent department policy. The tenor and tone of communications will integrate both customer service and the need for compliance.
  • Database Maintenance: The Analyst will provide timely updates to the department tracking systems as well as Investor systems.
  • Draw Processing: The Analyst will assess each reserve draw submitted by the borrower to verify that all items are qualified and properly documented. Once complete, the Analyst will recommend and document the disbursement of funds.
  • Calculate payoff quotes in a timely and accurate manner based on the methodology outline in the related loan documents.
  • Review legal documentation associated with the Satisfaction process to determine appropriate release of original documents after loan proceeds have been received.
  • Review legal documentation associated with Payoffs by Assignments to determine appropriate release of original documents under the necessary escrow agreement (a.k.a. hold, return or release). To ensure that Servicing records are accurately maintained with respect to the date, location and contact data for each original document pending assignment.
  • Monitor and validate Letter of Credit (LoC) renewals
  • Monitor credit ratings for banks from which LoCs are issued
  • Administer custody and prepare required documentation to facilitate a draw (if needed)
  • Assist with special projects  when assigned

 

Skills, Education and Experience: 

  • Bachelor’s degree preferred
  • Effective phone presence
  • Past experience with legal documents and contracts
  • Working knowledge of MS Office suite, Outlook and experience with database maintenance
  • Judgment: The ability to balance the customer service and compliance components to the satisfaction of the borrower, management, and the Investors and the knowledge to escalate in the event of imbalance.
  • Communications: The ability to listen and speak effectively with borrowers, staff and Investors in impromptu circumstances. Strong reading and writing skills are required for both internal and external documents.
  • Discipline: The ability and aptitude to maintain multiple databases on a real time basis. Must embrace the need for data integrity and timeliness.
  • Organizational Skills: The ability to prioritize and progress multiple tasks on a strict timeline
  • Technology: The ability to confidently work with various Investor systems, and internal systems
  • Problem Solving: the ability to problem-solve and exercise independent judgement while displaying a high degree of initiative and accuracy.
  • Ability to travel a minimum of 10-20%

Working Conditions: Normal working conditions with the absence of disagreeable elements

 

Note: The statements herein are intended to describe the general nature and level of work being performed by employees, and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.

 

Newmark Knight Frank is an Equal Opportunity/Affirmative Action employer.  All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.

 

Job Sector


Not specified

 

Experience


Not Specified


This job is no longer active.

Legal / Transactions Blue Bell Full Time PA Finance, Financial Analysis, Legal Reserve/ Payoff Analyst - Multifamily Capital Markets other