Description
Position Associate, Loan Asset Manager
Company USAA Real Estate Company
Location San Antonio, TX
Reporting Relationship Senior Director, Asset Management – Commercial Mortgages
Company Background
USAA Real Estate was founded in 1982 as the real estate investment arm of USAA. With more than $21 Billion in assets under management, the company provides co-investment asset management services to U.S. pension funds, as well as to foreign and domestic institutional investors. USAA Real Estate also provides capital to partners for development. The portfolio consists of office, medical office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies.
USAA’s balance sheet puts them in a position of strength – well capitalized to invest in multiple strategies and allowing for a distinct competitive advantage. USAA’s commitment to service and integrity reflects the core values put in place 95 years ago by their parent company, a trusted worldwide insurance and financial services organization.
Key Responsibilities
The Associate, Loan Asset Manager, Commercial Real Estate assists with loan servicing, surveillance and reporting for the commercial mortgage loan portfolio. With a portfolio of $1.3 Billion in the domestic US, the Commercial Mortgages team loans to commercial borrowers, utilizing USAA’s balance sheet to capitalize and to provide said loans. The team has been actively lending for 5 years, with the average size loan being in the vicinity of $26 million but ranging in size from $10MM to $53MM and covering most asset classes
• Assist the Senior Director with conducting active portfolio surveillance to effectively monitor loan and property performance. Responsibilities include, but are not limited to, analyzing loan-level financial statements, rent rolls, and inspection reports to update the underlying collateral value and calculate/evaluate key loan metrics (i.e., loan to value, debt service coverage ratio, and internal risk rating)
• Collaborate with internal mortgage originators and accounting team, as well as third-party servicer(s), correspondents and legal counsel to complete routine and ad hoc loan management and reporting tasks.
• Create portfolio-level performance reports and presentations for internal and external parties
• Assist with loan asset management and servicing matters including payoffs, prepayments, estoppels, lease reviews, SNDAs, reserves, escrows, draw requests, cash management, easements, financial reporting, inspections, post-closing items, and borrower requests.
• Partner with Senior Director to coordinate and handle mortgage compliance, data input, and information integrity.
• Work with Senior Director to proactively identify problem loans, develop monitoring plan, and recommend and assist with the execution of loss-minimizing recovery strategies such as note sales, workouts, restructures, and/or foreclosure.
• Identify and implement process efficiencies, best practices and/or standard operating procedures.
Professional Experience/Qualifications
• High achiever with 3 – 5 years of experience in loan servicing, surveillance and reporting.
• Must have deep knowledge and experience with underwriting and/or originating loans on all major commercial real estate product types. Mortgage loan workout experience a plus.
• Strong organizational skills with a high attention to detail and an ability to proactively manage multiple priorities simultaneously.
• Effective communicator, both written and verbal.
• Able to work with a high level of autonomy and be collaborative with the team, as required
• Solid ARGUS experience.
• Significant experience using MS Word, Excel and PowerPoint.
• Ability to travel, on an ad hoc basis and can regularly work extended hours, when needed
Education
• Bachelor’s Degree in Finance, Real Estate, Accounting, Business, from an accredited college/university (CFA preferred)
Company USAA Real Estate Company
Location San Antonio, TX
Reporting Relationship Senior Director, Asset Management – Commercial Mortgages
Company Background
USAA Real Estate was founded in 1982 as the real estate investment arm of USAA. With more than $21 Billion in assets under management, the company provides co-investment asset management services to U.S. pension funds, as well as to foreign and domestic institutional investors. USAA Real Estate also provides capital to partners for development. The portfolio consists of office, medical office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies.
USAA’s balance sheet puts them in a position of strength – well capitalized to invest in multiple strategies and allowing for a distinct competitive advantage. USAA’s commitment to service and integrity reflects the core values put in place 95 years ago by their parent company, a trusted worldwide insurance and financial services organization.
Key Responsibilities
The Associate, Loan Asset Manager, Commercial Real Estate assists with loan servicing, surveillance and reporting for the commercial mortgage loan portfolio. With a portfolio of $1.3 Billion in the domestic US, the Commercial Mortgages team loans to commercial borrowers, utilizing USAA’s balance sheet to capitalize and to provide said loans. The team has been actively lending for 5 years, with the average size loan being in the vicinity of $26 million but ranging in size from $10MM to $53MM and covering most asset classes
• Assist the Senior Director with conducting active portfolio surveillance to effectively monitor loan and property performance. Responsibilities include, but are not limited to, analyzing loan-level financial statements, rent rolls, and inspection reports to update the underlying collateral value and calculate/evaluate key loan metrics (i.e., loan to value, debt service coverage ratio, and internal risk rating)
• Collaborate with internal mortgage originators and accounting team, as well as third-party servicer(s), correspondents and legal counsel to complete routine and ad hoc loan management and reporting tasks.
• Create portfolio-level performance reports and presentations for internal and external parties
• Assist with loan asset management and servicing matters including payoffs, prepayments, estoppels, lease reviews, SNDAs, reserves, escrows, draw requests, cash management, easements, financial reporting, inspections, post-closing items, and borrower requests.
• Partner with Senior Director to coordinate and handle mortgage compliance, data input, and information integrity.
• Work with Senior Director to proactively identify problem loans, develop monitoring plan, and recommend and assist with the execution of loss-minimizing recovery strategies such as note sales, workouts, restructures, and/or foreclosure.
• Identify and implement process efficiencies, best practices and/or standard operating procedures.
Professional Experience/Qualifications
• High achiever with 3 – 5 years of experience in loan servicing, surveillance and reporting.
• Must have deep knowledge and experience with underwriting and/or originating loans on all major commercial real estate product types. Mortgage loan workout experience a plus.
• Strong organizational skills with a high attention to detail and an ability to proactively manage multiple priorities simultaneously.
• Effective communicator, both written and verbal.
• Able to work with a high level of autonomy and be collaborative with the team, as required
• Solid ARGUS experience.
• Significant experience using MS Word, Excel and PowerPoint.
• Ability to travel, on an ad hoc basis and can regularly work extended hours, when needed
Education
• Bachelor’s Degree in Finance, Real Estate, Accounting, Business, from an accredited college/university (CFA preferred)
Job Sector
Not specified
Experience
2+ to 5 years
This job is no longer active.