Associate, Asset Management - Non-Agency

Purpose and Job Summary

Under the direction and supervision of the Director of Asset Management, the Associate is responsible for managing servicing and technology tasks for LUMENT's Real Estate Investment Strategies (REINS) Group, in addition to oversight of a nation-wide portfolio of commercial mortgage loans and similar investments, primarily mezzanine loans. Loan positions managed by the REINS asset management group are collateralized by commercial income-producing properties and require knowledge of various asset classes, including but not limited to multifamily, senior housing/healthcare, commercial and manufactured housing. This role is to be primarily be carried out from the perspective of the Lender / Servicer, assisting the team's asset managers to ensure compliance with financial, contractual, and legal requirements, processing borrower requests, and analyzing and reporting on credit risk. In this role, the employee may also perform site inspections.

Essential Duties & Responsibilities

• Prepare disbursements of reserve funds.

• Prepare requests for system updates.

• Monthly monitoring of payment delinquencies, late charges, loan advances, fees and escrows for all loans in the REINS portfolio.

• Assist with Borrower inquiries on all servicing matters.

• Prepare payoff quotes based on established terms within the loan documents.

• Work closely with technology team on various initiatives and developments to support the REINS portfolio.

• Assist with preparation and review of monthly and quarterly Investor Reports regarding the status of securitized loans in the REINS portfolio.

• Monitor performance of a mezzanine loan portfolio.

• Ensure Borrower's contractual compliance with loan documents.

• Ensure Borrower is meeting business plan for the asset.

• Oversee draw administration for construction loans and coordinate with internal and external parties involved with the asset, as applicable.

• Analyze operating statements, rent rolls and other information to determine EGI, NOI/NCF, DSCR, DY, physical and economic vacancy, and other relevant performance metrics, and accurately and timely report on same.

• Inspect physical collateral and review 3rd party inspections of physical collateral, including properties located nationwide.

• Evaluate and recommend appropriate action regarding anticipated repairs, future funding and capital expenditures for the collateral, and monitor Borrower's compliance with relevant loan document requirements.

• Assist in analyzing and processing special Borrower requests, including requests for modifications of loan terms, changes to/releases of/transfers of collateral.

• Coordinate preparation of post-closing legal documents with internal and/or external Counsel and review of same.

• Investigate and maintain a working knowledge of relevant national, regional, and local (geographic) market conditions, and determine the impact on our collateral.

• Prepare monthly, quarterly and/or ad-hoc reports regarding the physical collateral, the credit risk associated with the loan, and specific action plans or recommendations for the Lender / Investor.

• Participate in various department, division and company projects and duties, as requested.

• Possess and apply knowledge of the REINS group's policies and procedures.

• Work professionally and harmoniously with team and coworkers.

• Other projects and duties as assigned

Contacts

This position has frequent contact with all levels of employees and management. In addition, this role interacts with outside business partners, vendors, consultants, and other office visitors.

Education, Skills & Experience

• Bachelor of Science degree in Real Estate, Finance, Business Administration, or related field required.

• Minimum three years' commercial real estate experience is required, preferably with an Institutional Lender, REIT or PE Firm.

• Advanced proficiency in Microsoft Office suite. Knowledge of McCracken Strategy is a plus.

• Knowledge of commercial/multifamily mortgage lending and commercial real estate finance.

• Knowledge of principles of securitization and 3rd party loan servicing.

• Knowledge of commercial construction principles and practices is required.

• Knowledge of commercial real estate valuation, including appraisal methodologies.

• Knowledge of commercial underwriting principles and practices.

• Knowledge of commercial loan documents and underlying legal concepts regarding secured financing, lien priority and lender liability.

• Knowledge of financial analysis and basic accounting principles required.

• Must demonstrate critical thinking and be highly analytical to effectively diagnose problems and identify appropriate solutions.

• Must demonstrate the ability to learn quickly and work independently and as part of a high-performance team.

• An excellent customer service attitude demonstrated by an ability to produce high quality deliverables, in an accurate and timely manner, to internal and external stakeholders.

• Possess excellent organizational skills in order to meet deadlines and achieve goals.

• Flexibility and ability to work under pressure and adjust priorities, as needed.

ORIX USA is an equal opportunity employer, providing equal employment opportunities (EEO), and is committed to diversifying its workforce. All employees and applicants for employment will receive consideration for employment without regard to race, color, religion, sex, national origin, age, disability, genetics, sexual orientation, gender identity or expression, pregnancy, protected veteran status or other status protected by law. This policy applies to all terms and conditions of employment.