Senior Servicing Associate

Since 1985, Situs has been the premier, global provider of end-to-end commercial real estate and loan advisory services and integrated solutions, offering customized services to leading financial institutions, investors, owners, and developers. We offer a wide array of services, including enterprise and process improvement, capital markets and commercial real estate advisory, primary and special servicing, and creative staffing solutions.

Our client, a multi-billion dollar institutional investment manager focused on real estate, credit products and related markets is looking for a Senior Associate/Associate with strong construction analysis and servicing experience.

• Act as the asset management contact for investors, borrowers and staff
• Review financial statements, perform financial analysis, develop excel based models, and contribute to the development of optimal resolution strategies
• Review file documentation, completing file inventory, identifying file deficiencies and obtaining additional documentation where necessary
• Verify and process construction draws including, requisition review, anticipated cost report, budget tracking, use of contingency, lien waivers, disbursement tracking, as well as attend requisition meetings
• Liaise with external construction consulting firm and monitor construction progress including, status of trades, schedule conformance and milestone targets
• Overseeing the collection and remittance of payments
• Overseeing the verification and payment of taxes and insurance
• Monthly reporting of asset performance

Experience Required:

• 5-7 years of complex loan servicing and/or asset management experience
• Well versed in the construction lending process
• Ability to creatively resolve issues that arise in connection with the borrowers business plan

Skills and Education:

• Strong analytical skills including experience reviewing financial documents, loan documents and construction documents, as well as underwriting cashflows. Excel proficiency (v-look ups, pivot tables)
• Ability to manage multiple project and external parties
• Attention to detail