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Assistant Vice President, Loan Administrator in New York, NY (14570)

Job DescriptionJob Attributes+

  • Job ID

    14570

  • Job Category

    Servicing / Loan Administration

  • Business Unit

    Hanover Street Capital

  • Job Location

    US - NY - New York

Overview

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!
Position Overview:

In this role, you will work with Senior Loan Administrators in 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.

Essential Job Functions:
  • Support Senior Loan Administrators in the day-to-day administration 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 2+ 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
#LI-MZ1

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.

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.
Job Location: New York, NY, USA
Country: USA

Our Benefits

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Powerful futures

- Annual compensation reviews
- Retirement benefits
- Education allowance program
- Matching gifts program
- Employee referral bonus programs
- Other region-specific incentives

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Powerful peace of mind

- Competitive vacation policies, holidays & other paid leaves
- Family-friendly leave policies, including maternity, - paternity & other family situations
- Employee wellness platform
- Employee assistance program
- Employee discount program
- Commuter benefits & travel assistance
- Volunteer program

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- Robust medical & other insurance plans
- Personal & family wellness benefits
- Savings programs & discounts for health expenses
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Part of a global team

Our US offices

Whether you’re working in one of our Real Estate businesses, or in Technology or a Corporate function, you’ll have plentiful learning opportunities and be greeted by a team who values your contribution. And, when it comes to benefits, you can expect above-and-beyond offerings supporting your emotional, physical and financial wellness.
New York, NY
Assistant Vice President, Loan Administrator

“I look forward to team meetings, training, development and coaching opportunities. It gives me the interaction with people that I need and appreciate. The more I learn, the more I feel like I can grow with the company. I enjoy coaching others, sharing knowledge gained and finding ways to make our job more efficient.”

Cindy Buchanan

QC Specialist II

“You must treat each client like they are your only client. We put customer service at the forefront of our service offering.”

John Wadle

Director of Servicing Quality Control

“I’m grateful for my ability to adapt because the industry is very fast-paced and always changing. I get put on special projects all the time, which I really like, because it expands my skillset and range of experience. But you need to be able to roll with the punches and stay light on your feet. I’ve done everything from appraisals to modifications to reverse mortgages, which is great, because I’ve always been able to adapt and learn quickly.”

Jon Addison

Senior Analyst

SitusAMC

Who we are

SitusAMC is a leading independent provider of technology, strategic outsourcing, talent and advisory solutions to the commercial and residential real estate finance industries. We help clients identify and capture opportunities in their real estate businesses through industry-leading services and innovative technologies that drive operational efficiency, increase business effectiveness, and improve market agility across the entire lifecycle of their global real estate activity.

Working among the best talent in real estate, you’ll be a part of some of the most relevant things happening in the industry and engage in interesting and exciting work. You’ll be embraced by a culture that celebrates innovative thinking and empowers you to get the job done. Come join us in Powering Opportunity for those we proudly serve.

30+
Years of delivering results
5000+
Professionals
600+
Technologists
25+
Global Offices
1500+
Clients
New York, NY
Assistant Vice President, Loan Administrator