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Job Description : Job Description This role focuses on the performance and operations of the underlying collateral for highly complex Commercial Real Estate loans as well as default loan management. Control quality of work, deadlines, as well as client relationships. Works closely with other teammates to monitor collateral performance of highly structure and/or complex Commercial Real Estate loans by utilizing industry metrics and providing clients customized reports. Monitors compliance relating to the underlying collateral of complex Commercial Real Estate loans and provides certain deliverables to assist clients in managing risk.
Eligible to manage or perform loan origination or servicing functions under Mortgage Investor or government agency guideline requirements.
Monitor assigned portfolio to ensure compliance with loan servicing agreements and borrower compliance with loan documents
Administer borrower requests including, but not limited to, assumption, defeasance, partial release, collateral exchange, modification, waiver, etc. in accordance with ISG established policies and procedures, and applicable loan documents and servicing agreements
Generate income through transaction fees and the timely collection of late charges and default interest (where appropriate)
Review collateral property inspections performed by 3rd party vendors in accordance with ISG established policies and procedures, industry standards and servicing agreements, including follow up with borrower to remedy identified deferred maintenance.
Conduct collateral property inspections on assigned loans in accordance with Asset Management department annual guidelines
Collect, review and analyze (as required) property operational reports and borrower/guarantor financial statements in accordance with ISG established policies and procedures, industry guidelines and servicing agreements (including consumer credit reports for recourse borrowers)
Monitor loans in assigned portfolios that meet established client or industry Watch List criteria.
Participate in monthly ISG Watch List reviews.
Monitor and administer loan covenants as identified in assigned portfolio loan documents, including, but not limited to, DSCR reviews, reserve account adjustments, call provisions, release provisions, earn outs, etc.
Review reserve draw requests, payoff quotes, insurance loss administration and escrow analysis prepared by Loan Administrator assigned to portfolio to ensure compliance with established ISG policies and procedures, applicable loan documents and servicing agreements.
Administer servicing client requests as necessary including, but not limited to, collateral reviews, credit administration, borrower interaction, market analysis, portfolio analytics, etc.
Maintain comments and data in loan file as appropriate
Achieve at a minimum ISG department annual goals for industry training
Mentor staff or peers through advisory and training opportunities
Interact with clients as a senior ISG staff member, which may require knowledge and understanding of matters handled by other asset managers assigned to portfolio
Some travel is required
Other duties as assigned
Review monthly delinquency reports for assigned portfolio
Coordinate collection inquiries with Loan Administrator on assigned portfolios to ascertain nature of default, borrower's intentions with respect to collateral preservation and loan reinstatement; Asset Manager or Loan Administrator to contact borrower as appropriate and most effective
Proactively communicate loan status to servicing lender clients and CMU Relationship Managers (Cohen originated loans)
Develop initial Loan Summary Report (or similar client specific report) within specified servicing client guidelines to identify key characteristics of nonperforming loan
Identify appropriate 3rd party service providers for, among other things, collateral inspection, management, preservation and investment sale, legal counsel and receiver nominee.
Develop and revise as appropriate, initial Loan Workout/Resolution plan as appropriate identifying, among other things, cause of default, borrower's intentions towards collateral preservation and loan reinstatement, collateral market analysis, preliminary legal remedies analysis, collateral/asset value enhancement, and disposition strategies with recommendation
Implement Loan Workout/Resolution plan as approved under appropriate delegated or client authority
Develop Loan Workout/Resolution plans as needed
Administer REO activities as needed (oversee property management, brokerage/sales, etc.)
Maintain complete record of approved actions and borrower and lender client communication
Provide appropriate instructions to Loan Administrator for posting and disbursing funds as needed
Provide appropriate posting instructions to Loan Administrator for funds received on nonperforming loans
Achieve at a minimum 25% of ISG department annual goals for industry training in workout related curricula
Some travel is required
Other duties as assigned
Qualifications Basic Requirements:
College degree or academic achievement in Real Estate, Law, Finance, Management, Journalism or Communication/Rhetoric or equivalent work experience
Minimum 5 years commercial loan asset management and/or workout experience, including CMBS or 10 years Industry experience
Strong analytical skills (property operations, borrower financials and market performance)
Strong PC skills, including a demonstrated proficiency with Microsoft Office applications
Strong written and verbal communication skills. Demonstrated ability to clearly convey loan status and develop loan workout/resolution plan (nonperforming loans).
Commercial or multifamily property leasing, sales, management and/or ownership experience
Consumer debt collection or counseling experience
Prior Investment property ownership or management experience
Prior experience in asset recovery, investigative reporting, mediation or dispute resolution
Equal Opportunity Employer: SunTrust supports a diverse workforce and is a Drug Testing and Equal Opportunity Employer. SunTrust does not discriminate against individuals on the basis of race, creed, color, gender, religion, national origin, age, disability, veteran status, pregnancy, marital status, citizenship status, sexual orientation, gender identity, genetic information, or any other classification protected by applicable laws.
To review the EEO Poster, copy and paste the following link into your browser: http://www1.eeoc.gov/employers/upload/eeoc_self_print_poster.pdf http://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf