Lument Real Estate Capital, LLC
Department: Loan Servicing & Asset Management
Reports to: Managing Director & Director, Asset Management
Job Classification: Full-Time Salary-Exempt
Location: Dallas, TX / Columbus, OH / Overland Park, KS
Purpose and Job Summary
The primary focus of the position is to provide outstanding service to internal and external clients and to aid in the management and administration of our complex loan servicing portfolio through the superior execution of several core functions. Assist in all aspects of the administrative, financial, capital and operations of the assigned portfolio.
Essential Duties & Responsibilities
- Set up appropriate follow up systems to manage ongoing compliance with loan document covenants, and ensure proper file set-up.
- Work with Construction Loan Management (CLM) to review and/or approve and follow-up with borrower for completion of any required repairs, ensuring completion prior to agreement expiration per the escrow agreement, advise the U.S. Department of Housing and Urban Development (HUD) accordingly.
- Ability to understand financial concepts and perform financial analysis on multifamily and healthcare loans per established HUD and internal guidelines; identifying underperforming and potentially troubled assets & advise management to ensure performance issues are appropriately addressed.
- Work with Construction Loan Management (CLM) to review and/or approve disbursements from replacement reserves, noncritical repairs, and other collateral escrows in accordance with HUD and established departmental guidelines.
- Per internal and HUD guidelines, contact Borrowers on loans where payments are not received within specified timeframes, follow up to secure timely payment and report status in servicing system. Participate in discussions regarding problem or defaulted loans. Monitor loans under workout situations, working closely with department management and HUD, assist in identifying potential methods to cure the default. Review with management any situations where the default is unlikely to be cured, and recommend potential assignment to HUD per current established HUD and departmental guidelines.
- Process interest rate reduction (IRR) or loan modifications, Final Endorsement conversion, reserve requirement changes, or other loan related system changes per specific loan documentation as approved by HUD and Ginnie Mae investor.
- With HUD approval, monitor loan pay offs, per established procedures, from initial borrower request through pay off calculation, verification, and approval process. Assist the servicing team as necessary in preparing and follow up on mortgage releases, etc.
- Perform due diligence review and make recommendation to management on various borrower consents; coordinate with HUD, borrower, and outside counsel, ensuring compliance with loan covenants and HUD regulations. Submit Lender recommendation to HUD upon conclusion of internal review. Responsible for post-closing tasks such as initiating necessary changes to servicing system, add loan documents to MIDAS document system, and notify other departments as applicable. Work with legal counsel to record agreements if required. Set appropriate ticklers for follow-up or future/pending changes as applicable.
- Ensure that proper notification, communication, and coordination occurs with ORIX’s legal and compliance personnel, when applicable. Ensure that all job functions are executed in compliance with HUD requirements and ORIX’s policies and procedures.
- Cross-train in all areas of department to gain full understanding of all aspects of departmental responsibilities.
- Respond to all internal and external inquiries in a timely, accurate and professional manner and handle to conclusion.
- Assist management with special projects or other duties as assigned related to department goals or as may be needed by the team.
Contacts
This position has frequent contact with all levels of employees and management, and will be expected to effectively & professionally communicate with colleagues (internally and externally), and with various regulatory and industry contacts and with individuals at various levels of the organization.
Education, Skills, & Experience
Required
- Associates or Bachelor’s degree preferred with a concentration in Finance, Real Estate, Management or Business.
- Minimum of three years of progressive experience in commercial mortgage servicing or commercial real estate asset management is preferred, with exposure to FHA, Ginnie Mae, or Fannie Mae a plus. An equivalent combination of education and experience which clearly demonstrates knowledge and skill set to perform the job functions will be considered.
- Must demonstrate critical thinking and be highly analytical to effectively diagnose problems and identify appropriate solutions, possess excellent organizational skills in order to meet deadlines and achieve goals.
- The ability to work well under pressure, adjust to varied workloads and handle multiple priorities & initiatives with a sense of urgency.
- An excellent customer service attitude demonstrated by an ability to produce high quality deliverables in an accurate and timely manner.
- Strong computer literacy required, particularly regarding spreadsheet and word processing applications such as Microsoft Excel, Word, and PowerPoint. Working knowledge of the Strategy servicing system is a plus.
- Demonstrate the 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 demonstrate ability to work independently and as part of a high-performance team
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.
