Asset Manager - HUD/USDA

Asset Manager - HUD/USDA

Summary:

The Asset Manager works in coordination with the Agency Asset Management team, borrowers, lenders, and government agencies to protect and maintain the value of multifamily properties securing commercial mortgage loans. The Asset Manager position is on the HUD/USDA Team.

Key responsibilities encompass overseeing the physical and operational performance of each asset, cultivating, and managing client relationships, ensuring adherence to loan documentation requirements, and delivering recommendations to management regarding loans within assigned portfolio.

Major 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.

Minimum Requirements: (experience, education, ksa)

• 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.

• HUD/USDA experience preferred.

• Bachelor’s degree in business, accounting, finance, real estate, or related field.

• Commercial real estate background desirable.

• 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.

BWE offers a highly competitive benefits package including medical, dental, vision, paid time off, 401k match, paid parental leave, education assistance and so much more!

If you are ready to take on a challenging and rewarding role, apply today!

We encourage you to explore the career opportunities we have available here at BWE!

We encourage you to explore the career opportunities we have available here at BWE!