BWE · 15 hours ago
Asset Manager - HUD/USDA
OH - Cleveland
Full-time
Hybrid
Senior Level
5+ years expBEREC Bellwether Enterprise Real Estate Capital is seeking an Asset Manager to work closely with the Agency Asset Management team, borrowers, lenders, and government agencies to maintain the value of multifamily properties. The role involves overseeing asset performance, managing client relationships, and ensuring compliance with loan documentation requirements.
BankingFinanceFinancial ServicesLendingReal EstateReal Estate Investment
Responsibilities
Conduct internal inspections of multifamily properties as needed
Review third-party inspection reports and provide recommendations based on findings; this includes coordinating with borrowers on deferred maintenance issues, formulating an appropriate course of action, and obtaining necessary management and lender approval
Accurately and efficiently produce required analyses of operating statements and related financial statements of multifamily properties and sponsors, including identifying and researching variances, normalizing, and otherwise adjusting the statements, in accordance with lender requirements
Analyze and process borrower requests for releases of funds from various reserve accounts, including but not limited to reserves for replacing capital items, required repairs, green improvements, and special escrows
Monitor expiration dates of Letters of Credit and ensure all required documentation and approvals are secured for renewals, replacements, and releases in a timely manner
Process routine post-closing borrower consent requests in accordance with loan document requirements and lender guidelines, delivering thorough and well-supported recommendations to management for approval for assigned portfolio
Manage loans on internal watchlist, maintain consistent communication with borrowers, review sponsor action plans, provide status updates, and present recommendations to management and the lender, as appropriate
Demonstrate comprehensive understanding and clear communication of loan narratives for assigned portfolio by preparing action plans, watchlist summaries, deferred maintenance reports, and other communication for internal, external, and lender stakeholders
Review and document sponsor exit plans for upcoming loan maturities
Monitor borrower compliance with loan documents to ensure loan covenant compliance requirements are managed effectively
Monitor delinquent loan payments by contacting borrowers regarding their account status, issuing delinquency notices in accordance with lender requirements, and ensuring that all system records are accurately updated to document collection activities and payment results
Review and process borrower requests for the release of funds held in reserve accounts—such as those for replacing capital items, green improvements, required repairs, and special escrows—in accordance with loan document and lender requirements ensuring that all required documentation is collected to evidence satisfactory completion
Monitor casualty events and restorations, submit lender notifications, collect and disburse insurance proceeds in accordance with loan document and lender requirements
Provide excellent customer service by addressing inquiries promptly and accurately, while consistently updating stakeholders on loan performance and compliance matters in a timely and transparent manner
Collaborate internally to maintain data quality control and coordinate financial and inspection submissions for all TEAM Loans
Assist with systems development and process improvement initiatives
Coordinate with internal audit team on annual reporting and compliance
Perform additional duties as assigned
Qualification
Required
Minimum 5 years of experience in real estate asset or portfolio management, finance, or mortgage servicing
Minimum 3+ years of experience in Asset Management required
Bachelor's degree in business, accounting, finance, real estate, or related field
Strong multitasking, deadline management, analytical, presentation, and communication skills
Able to work in diverse environments and travel independently as needed
Excellent organizational, interpersonal, and customer service skills; strong work ethic
Demonstrated ownership of responsibilities and ability to embrace challenges
Team-oriented with professionalism and effective stakeholder engagement
Proficiency in Microsoft Office products
Preferred
HUD/USDA experience preferred
Commercial real estate background desirable
Benefits
Medical
Dental
Vision
Paid time off
401k match
Paid parental leave
Education assistance
Company
BWE
BWE stands as a national, full-service commercial and multifamily mortgage banking company committed to elevating real estate financing.
201-500 employees
Funding
Current Stage
Growth StageTotal Funding
$112.19MKey Investors
U.S. Department of Housing and Urban Development
2024-11-13Debt Financing· $43.24M
2016-10-12Debt Financing· $68.95M
Leadership Team
DJ Effler
Chief Executive Officer
Denise McGee
Retired Professional / Former Chief Human Resource Officer
Recent News
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