Purpose and Job Summary:
The FHA/USDA Transactions – Agency Risk Associate Director will lead the process of FHA/USDA healthcare and multifamily post-closing transactions and requests, including loan assumptions (Full TPA/CHOP), transfers of interest (Modified TPA/CHOP), and changes of facility operator. The position coordinates and works with bankers, associates, external counsel, government agency personnel, and any other third parties to carry out post-closing requests. The candidate’s primary responsibilities are to 1) deliver outstanding internal and external customer service regarding post-closing risk and credit requests; 2) underwrite credit submissions and recommendations for Management approval; 3) manage the credit approval process and handoff to Asset Management in a timely manner; 4) monitor compliance with loan terms and government agency loan program guidelines; and 5) manage direct reports through deal and ancillary assignments. This position reports to the Director of FHA/USDA Asset Management – Agency Risk.
Essential Duties and Responsibilities:
- Facilitates and diligently documents initiation, progress, and completion of post-closing transactions such as loan assumptions (Full TPA or CHOP), transfers of interest (Modified TPA or CHOP), and changes of facility operator.
- Maintains loan servicing files with detailed documentation in an organized manner.
- Processes and documents any change in borrower, operator, or management agent contact information.
- Ensures that all job functions are executed in compliance with investor requirements and internal policies and procedures.
- Provides guidance, mentorship, and training for department Associates and Analysts with the potential to supervise those positions.
- Provides reviews and signature approvals according to company signature authority guidelines.
- Provide excellent customer service by timely and effectively communicating between all internal and external transaction parties involved and handle to conclusion.
- Effectively manage a team of direct reports varying from analysts to associate underwriters.
- Delegate to and monitor assignments with underwriting team.
- Underwrite transactions related to loans collateralized by various asset types.
- Collect, review, and analyze property and sponsor financial statements per agency guidelines.
- Review all due diligence material provided for a transaction. Provide prompt and accurate analysis, and ensure programmatic requirements are met for each transaction. Candidate will ensure any deviation is clearly documented and approved by all required parties.
- Critically review, evaluate, and approve any required third party reports to assess alignment with program requirements.
- Provide timely portfolio status updates to management team.
- Actively participate in updating and improving department processes and procedures.
- Assess physical condition of property collateral by reviewing property inspections and third-party reports.
- Prepare and present final credit packages addressing the creditworthiness of the sponsorship and the real estate for senior management review.
- Comply with agency credit package submission guidelines and timeframes as described in respective servicing guides.
- Clearly manage and communicate underwriting process, approval and closing timelines among all internal and external transaction parties.
- Demonstrates strong working knowledge of all deals and project assignments. Identify underperforming and potentially troubled assets and escalate through the proper channels to assure that performance issues are appropriately addressed.
- As needed, follow up with closing coordinator and legal counsel to collect any missing loan documents, and disseminate pertinent insurance, tax and other information from closing.
- Set up appropriate follow up systems to manage ongoing compliance with loan document covenants and ensure proper file set-up.
- Ensure all loan related system changes per specific loan documentation and/or Ginnie Mae requirements are completed.
- Ensure final underwriting files and approvals are documented accurately and completely and are compliant with LUMENT’s loan file policy.
- Cross-train in all areas of department to gain full understanding of all aspects of departmental responsibilities.
- Provide internal transparency in approval process by ensuring pipeline reports are updated and following up with transaction party members in an accurate and timely manner.
- Participate and present transactions in credit meetings for discussion.
- Works professionally and harmoniously with team and coworkers.
Travel Requirements - None.
Education, Skills and Experience:
- Bachelor’s Degree in business administration, finance, accounting or related area.
- Minimum of five years of progressive experience in commercial mortgage servicing or commercial real estate asset management is preferred. An equivalent combination of education and experience which clearly demonstrates knowledge and skillset to perform the job functions may be considered. HUD specific servicing or asset management experience is required. USDA specific servicing or asset management experience is preferred.
- Excellent organizational, communication, presentation, and interpersonal skills.
- Ability to plan, organize, and prioritize assignments, and to meet critical and established deadlines; Ability to manage multiple assignments ant transactions simultaneously.
- Demonstrated ability to maintain confidentiality and to use discretion in the performance of daily activities.
- Professional business image and excellent command of the English language, both verbally and in writing (spelling, grammar, and punctuation).
- Ability to learn quickly and demonstrated ability to work independently and as part of a high-performance team.
- Flexibility and ability to work under pressure with tight deadlines and constant interruptions; Ability to adjust priorities in a changing environment.
- Desire to lead, train and mentor Associates and Analysts.
Required:
HUD/FHA specific servicing or asset management experience is required.
Preferred:
USDA specific servicing or asset management experience is preferred.
Life at ORIX
We are committed to the health and well-being of our employees and offer a quality, competitive benefits package that provides valuable healthcare and financial protection for our workforce, while emphasizing a healthy work/life balance.
You Time
We want you to have the time needed to recharge and manage life with our competitive vacation policy, floating personal holidays, extensive leave options, our annual observed holidays, and more.
Family Care
Every family has a different journey and ORIX USA Group is proud to offer extensive benefit programs such as: infertility coverage, adoption support, child and elder care, fully paid maternity, and generous parental leave benefits to help you and your families along the way.
Flexible Work Arrangements
ORIX associates enjoy the advantages of our hybrid working model with a 3 day in-office minimum requirement.
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.
