Northmarq · 7 hours ago
Agency Asset Manager
Minneapolis, MN
Full-time
Onsite
Mid, Senior Level
$85K/yr - $110K/yr
4+ years expNorthmarq is a unique capital markets resource for commercial real estate investors, providing access to experts in various areas. They are seeking an experienced Agency Asset Manager to manage a portfolio of commercial real estate loans, ensuring compliance with lender requirements while providing exceptional customer service.
Real Estate Investment
Responsibilities
Manage a portfolio of increasingly complex commercial real estate loans while strengthening relationships with key lenders and support senior team members with key tasks on more complex commercial real estate loans
Work with a diverse range of Freddie Mac lenders, companies, private clients, and investment lenders, providing a personalized, client-centric experience tailored to each lender’s specific guidelines and requirements
Provide premier customer service to lenders, borrowers, other servicing staff, and regional offices
Audit new loan boarding and setup to ensure loan terms and covenants were accurately captured in the servicing system
Perform other reasonable tasks/projects as assigned within the department
Review and make recommendations for releases from reserves including capital expenditure, repair, debt service reserve (do only Asset Managers handle this?), rental achievement, TI/LC, and insurance loss
Analyze annual and quarterly financial statements for multifamily and commercial properties in accordance with the requirements of Freddie Mac and conduit lenders
Calculate and coordinate loan payoff requests, including yield maintenance calculations
Coordinate with legal counsel and borrowers to document and close transactions (same as Associate AM? Or different) upon final lender approval
Monitor and update monthly loan reports utilized by lenders and management to analyze portfolio risk
Process insurance loss requests, manage proceeds, and monitor the restoration of the property
Follow up with borrowers to resolve any post-closing deferred maintenance items or other high-risk items identified during the annual inspection
Follow up with borrowers regarding variances and general income and expense questions
Analyze and make recommendations for lender consent of borrower requests, including lease approvals, maturity extensions, partial releases/substitutions of collateral, easements, condemnations, ownership transfers etc
Manage a portfolio of Freddie Mac loans with varying requirements and regulations
Monitor and collect outstanding mortgage payments, carefully documenting collection efforts
Assist Manager(s) with monitoring team tasks, reviewing write-ups/recommendations, quality control, and lender feedback
Perform financial covenant testing calculations including NOI, DSCR, debt yield, etc
Provide training and mentoring across the team on areas of expertise including risk management, underwriting and general CRE knowledge
Minimal business travel for lender visits, industry/company conferences, etc. (1-3 times per year)
May participate in department strategic initiatives
Serve on procedure committees updating policies for the Portfolio & Asset Management Department
Assist team members on advanced or complicated consent requests
Review property repair verification inspections conducted by third party vendors and regional offices
Strategically manage workload to uphold portfolio standards and align with departmental objectives
Qualification
Required
Bachelor's Degree, preferably in the finance, real estate, or accounting area
4-7 years of experience in finance or accounting
Strong skills in Microsoft Outlook, Excel, and Word
Strong knowledge of commercial real estate finance and commercial loan terminology
Demonstrate strong analytical, asset management and underwriting skills
Demonstrated leadership and training abilities
Excellent verbal and written communication skills
Strong organizational and prioritization skills, with ability to manage multiple assignments while meeting deadlines
Ability to work both independently and within a team, with minimal supervision
Attention to detail and accuracy required
Problem solving skills to reflect level of responsibilities
Ability to maintain sensitive and confidential information
Preferred
Background in commercial lending or asset management preferred
Benefits
Medical
Dental
Vision
Paid time off
401K match
Annual discretionary contribution based on business performance
Paid parental leave
Adoption assistance
Education assistance
Volunteer paid time off
Charitable contribution match
Company
Northmarq
As a company built on the founding principle of integrity, we’re invested in your success.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Ani Paulson
Senior Vice President
JoAnn Neau
Chief Marketing Officer
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