VP, Loan Administrator

SitusAMC is where the best and most passionate people come to transform our client's businesses and their own careers. Whether you're a real estate veteran, a passionate technologist, or looking to get your start, join us as we work together to realize opportunities for everyone, we proudly serve. At SitusAMC, we are looking to match your unique experience with one of our amazing careers, so that we can help you realize your potential and career growth within the Real Estate Industry. If you are someone who can be yourself, advocate for others, stay nimble, dream big, own every outcome, and think global but act local - come join our team! Hanover Street Capital, LLC ("Hanover Street") operates as a fully dedicated platform assisting Deutsche Bank's Commercial Real Estate Group with its $20+ bn loan portfolio. We provide a comprehensive suite of services across commercial real estate transactions and are uniquely positioned to apply our expertise and flexibility of resources to help our client solve any problem, make informed decisions, and maximize the value of their assets. With practice teams dedicated to commercial real estate loan originations, asset and portfolio management, loan servicing and administration, and transaction management, we offer a broad range of capabilities across all CRE property and credit types ranging from senior mortgages to subordinate debt. Established in 2012, Hanover Street is a wholly owned subsidiary of SitusAMC. In this role, you will manage the day-to-day administration of a diverse portfolio of CRE loan and debt financings including construction/renovation loans, syndications, CMBS, secured and unsecured debt transactions, multi-currency and project financings. As a member of Loan Administration, you will work alongside colleagues in Asset Management, Portfolio Management and Servicing, and see the full breadth of activities required to manage a diverse, complex commercial real estate loan portfolio. The role is focused on the processing and administration of CRE loan documentation and funding requirements, including monthly waterfall calculations, cash management processing, payoffs, manage escrows and reserve balances, as well as responding to client, loan participant and Asset Management team inquiries. In addition, you will have an opportunity to develop and grow professionally and hone your skills in support of streamlining workflow processes, addressing borrower inquiries, and the application of industry best practices - designed to allow you to progress and take on the full breadth of Loan Administrator duties and be assigned full responsibility for a portfolio of assets as you gain more and more experience. This position is New York City based and requires a minimum 3 days in person. Day-to-day management of assigned loans, including communication with Borrowers and Lenders/Investors and Client Analyzing and interpreting loan documents and providing advice and direction to the Asset Management Team and Loan Operations teams Monitoring reserve and escrow accounts to ensure borrower compliance with governing documents including provisions related to budget, taxes, insurance, collateral and future funding Reviewing disbursement requests, monitoring draw procedures, managing flow of funds mechanics and internal loan administration Monitoring of construction loans including review of budgets, back-up documentation, title updates, and inspection reports. Periodic travel as needed to inspect construction projects. Performing monthly loan-level waterfall calculations and cash management processing including the monitoring of income, operating budgets and leasing status Coordinate new portfolio and new loan servicing including collection of all necessary loan documents, obtaining contact information for all relevant parties and ensuring accurate boarding in the loan servicing system. Reconcile and review various reports including billing statements, release statements, payoff statements and remittance reports as required to ensure Hanover's high standards are achieved in terms of quality, accuracy and completeness. Update and monitor loan specific information in the loan servicing system Flexibility in schedule with respect to meeting time sensitive client needs Handle the collection and remittance of payments Verification and payment of taxes and insurance Calculating property/unit release prices and monitoring releases Portfolio reporting Coordination with asset managers, borrowers, co-lenders and third-party vendors Other activities as may be assigned by your manager Qualifications/ Requirements: Minimum 3+ years of experience in Commercial Real Estate, Loan Servicing/Administration, Corporate Trust or Community Development or related field Construction loan experience required Knowledge of cash management and waterfalls preferred Excellent reading and comprehension skills Ability to communicate effectively both written and verbal Analytical skills to understand complex commercial loan documents Strong organizational and time management skills Understanding of 3rd party reports including appraisals, property condition reports, and environmental reports. Ability to work independently on projects and also collaborate "˜face to face' as a team player Ability to work in fast-paced environment running multiple tasks under tight deadlines Strong analytical, problem solving and computer skills with a thorough knowledge of Excel Excellent written, verbal and electronic communication skills with attention to detail Work in a team environment yet think independently and generate quality work product with little supervision Manage multiple priorities and meet multiple deadlines Ability to approach work from more of a "transaction" basis versus "task" basis Understanding of real estate finance including debt and equity structures Special Requirements: The employee may be required to report to a different local office as a normal, contemplated, and mandated incident of their employment Working Conditions: Office environment with frequent computer, mouse, keyboard use Alternating between sitting or standing as needed Hearing, talking, reaching, grasping Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings. SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. Note: This job description is not intended to be all inclusive or exclusive. At any time, employees may perform other related duties as required to meet the ongoing needs of the organization and participate in additional trainings. SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume. The annual full time base salary range for this role is $145,000.00 - $165,000.00 Specific compensation is determined through interviews and a review of relevant education, experience, training, skills, geographic location and alignment with market data. Additionally, certain positions may be eligible to receive a discretionary bonus as determined by bonus program guidelines, position eligibility and SitusAMC Senior Management approval. SitusAMC offers PTO and paid holidays, the terms of which are set forth in the program policies. All full time employees also are eligible to participate in various benefit plans, including medical, dental, vision, life, disability insurance and 401K; in each case in accordance with the terms of the applicable plans. Pay Transparency Nondiscrimination Provision ( SitusAMC is an Equal Opportunity Employer. Qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state, or local laws. Know Your Rights, Workplace Discrimination is Illegal ( SitusAMC does not accept unsolicited resumes from staffing agencies, search firms or any third parties. Any unsolicited resume submitted to SitusAMC in any manner will be considered SitusAMC property, and SitusAMC will not pay a fee for any placement resulting from the receipt of an unsolicited resume.

Created: 2024-11-12