Loan Servicing Manager provides management and leadership to a team of commercial real estate asset managers. Leader will be part of the Investor Services Group (ISG), a unit of the Commercial Real Estate Division of SunTrust Bank. Asset management team is responsible for managing Suntrust originated agency loans (including Fannie Mae, Freddie Mac and FHA/HUD loans) as well as a third party capital for institutional, life company or investment entities. Investor Service Group manages and services total loans of $30 billion and is a business in growth mode. The role straddles managing a team of asset managers, but also has regular client contact for third party fee for service engagements.
SunTrust Bank is an integrated full service provider of capital related products and services to the commercial real estate industry. Each of our services we offer directly, and through our affiliates, allowing us to be more responsive to our clients and the marketplace.
•Leads a team which performs periodic asset reviews on commercial real estate. Reviews include benchmarking property performance against original investment underwriting to identify performance deviations and market changes impacting property performance. Properties represent collateral for highly complex Commercial Real Estate loans including, but not limited to, bridge loans, structured finance, mezzanine loans, and preferred equity. Most reviews are for third parties; as such they are customized based on client needs.
•Works in parallel with servicing teammates who process day to day funds flows on underlying assets under service.
•Leads annual and quarterly compliance activities on underlying collateral of complex Commercial Real Estate loans. Compliance activity include, but are not limited to, bridge loans, construction loans and structured finance products and provides certain deliverables to assist clients in managing risk.
•Interfaces with third party clients to discuss topics related to services provided as well as asset specific conversations discussing analytics and benchmarks on assets under management. Client base includes private equity firms, life companies, institutional investors and other types of investment entities.
•May lead topics and/or provide expertise for operational, compliance and regulatory risk assessments as a division of SunTrust Bank.
•Should be willing to be an industry leader for Suntrust in commercial real estate servicing platforms for agency finance, CMBS and third party investors.
Responsibilities and Primary Activities:
•Monitor loans in assigned portfolios that meet established client or industry Watch List criteria.
•Oversee the administration of borrower requests including, but not limited to, assumption, defeasance, partial release, collateral exchange, modification, waiver, etc. in accordance with ISG established policies and procedures, and applicable loan documents and servicing agreements
•Oversee the collection, review and analysis (as required) of property operational reports and borrower/guarantor financial statements in accordance with ISG established policies and procedures, industry guidelines and servicing agreements (including consumer credit reports for recourse borrowers)
•Generate income through transaction fees and the timely collection of late charges and default interest (where appropriate)
•Ensure effective utilization of resources for unit, departmental, division, or corporate initiatives.
•Administer client service request as necessary, but not limited to, collateral reviews, credit administration, borrower interactions, market analysis, portfolio analytics, etc.
•Review and execute documents as appropriate in accordance with established ISG policies and procedures and approved delegated authority.
•Oversee the administration of borrower’s requests as necessary including, but not limited to, collateral reviews, credit administration, borrower interaction, market analysis, portfolio analytics, etc. Maintain comments and data in loan file as appropriate
•Interact with clients as a senior ISG staff member, which may require knowledge and understanding of matters handled by other asset managers assigned to portfolio
•Coordinate collection inquiries with Loan Administrator on assigned portfolios to ascertain nature of default, borrower’s intentions with respect to collateral preservation and loan reinstatement; Asset Manager or Loan Administrator to contact borrower as appropriate and most effective
•Proactively communicate loan status to servicing lender clients and CMU Relationship Managers (Cohen originated loans)
•Maintain complete record of approved actions and borrower and lender client communication
•Monitor portfolio activity for assigned asset managers, both internal and external contract resources, and ensure compliance with ISG guidelines, internal policies and procedures, and industry standards
•Oversee the development of the initial Loan Workout/Resolution business plan identifying, among other things, cause of default, borrower’s intentions towards collateral preservation and loan reinstatement, collateral market analysis, preliminary legal remedies analysis, collateral/asset value enhancement, and disposition strategies
•Oversee the implementation of the Loan Workout/Resolution plan as approved under appropriate delegated authority
•Oversee REO activities, as needed, including property management, brokerage/sales, etc.
•Manage third party service providers for, among other things, collateral inspection, management, preservation and investment sale, legal counsel and receiver nominee.
•Review current processes and implement process improvement as appropriate to enhance productivity, efficiency and client deliverables