Arbor, a real estate investment trust that invests in a diversified portfolio of multifamily and commercial real estate-related loans and other real estate-related assets, has a career opportunity for a Credit Risk Product Manager. The Credit Risk Product Manager reports directly to and works in concert with the SVP of Credit Risk Management in furtherance of macro risk mitigation, compliance, and oversight across the Freddie Mac portfolio.
The Credit Risk Product Manager is responsible for the coordination of asset management activities in anticipation of Freddie Mac securitizations (K or SBL), loan assumptions, waivers and loans requiring greater Asset Management oversight, while driving to mitigate risk and communicating with business partners within and outside of Arbor.
The position will have the following duties and responsibilities, including but not limited to:
- Ensure the accuracy of Arbor’s administrative system(s) and database content, the ability to extract data for investor reporting and control reports for proper Asset Management oversight
- Review and approve master servicer requests including; modifications, repair extensions, management changes and cap rate adjustments
- Review and approve assumptions, transfers and payoffs
- Review loan transfer memos
- Review and comment on Freddie Mac and Seniors/Healthcare ASR’s and Action Plans while supporting documentation to mitigate risk and ensure investor compliance
- Coordinate all master servicer and Freddie Mac communications, audits and certifications
- Track and communicate pre and post-securitization loan performance and coordinate with Arbor’s Closing and Capital Markets Groups throughout the securitization process
- Work to ensure Arbor’s risk rating model accurately identifies risk characteristics within Arbor’s Freddie Mac K and SBL portfolio and Arbor’s Freddie, Fannie Mae and FHA Seniors/Healthcare portfolio
- Track and communicate the performance and status of loans with an active assumption, maturing within 24 months, contains an “Interest Only” component, or has yet to be securitized
- Track and manage non-delegated borrower change requests
- Coordinate Capital Markets and Asset Management efforts to satisfy B-Piece Buyer inquiries
- Define and share vision of success with key stakeholders
- Review Agency/FHA/Bridge Narratives for Seniors Housing with Underwriting, suggest improvements, prepare comments for credit committee members and follow through the process to ensure that the terms of the loan are followed through by the borrower and Asset Management
- Work with Asset Managers on seniors housing inspections, financials, and reimbursements
- Attend and meet with seniors housing borrowers to help grow the seniors housing business
- Create and enhance policy and procedures to include Freddie Mac’s (K, SBL and Seniors/Healthcare), Fannie Mae and FHA Seniors/Healthcare Asset Management requirements
- Evaluate the Seniors/Healthcare portfolio ensuring efficient and cost effective operations by analyzing, developing, revising, and implemented related programs, policies and procedures
Education: Bachelor Degree in Real Estate, Finance, Accounting, or Business; Master’s degree preferred
Experience: Minimum of 10 years of Commercial Real Estate experience, with both collateral valuation and asset management experience.
- Strong knowledge and understanding of Freddie Mac’s K and SBL programs
- Strong organization, team building, problem-solving, and communication skills
- Significant experience in management roles and influencing senior partners
- Ability to communicate effectively across all levels internally and externally
- Ability to build and develop constructive relationships across the organization with key business partners including strategic business units and other divisions
- Knowledge and understanding of Fannie Mae and FHA Lean Seniors/ Healthcare Programs a plus
- Investor Relations
- Risk Management
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