Loan servicing serp_jobs.h1.location_city

Summary

The Sr. Associate, Loan Servicing provides leadership and functional expertise to perform a wide variety of tasks related to commercial and multifamily loan servicing according to established policies, procedures and regulatory guidelines, thus assuring overall quality and integrity of NLG’s commercial loan portfolio. This individual will work closely with originators throughout the life cycle of a transaction and must be able to effectively interact with multiple stakeholders (originators, credit, accounting, operations, and legal).

This position currently offers an onsite hybrid work schedule, with the expectation that you are in the office four (4) days per week during onsite core days. Our current onsite core days are Monday, Tuesday, Wednesday, and Thursday. The work schedule type and core days are subject to change with advance notification and manager discretion.

Essential Duties and Responsibilities

• Serve as the primary point of contact for the main loan servicer and sub-servicer, and as a secondary point of contact for borrowers, ensuring all inquiries and concerns are addressed promptly and effectively.
• Analyze loan documents to evaluate structural features and apply appropriate concepts to Asset Management requests.
• Perform independent, ongoing loan surveillance and asset management to ensure compliance with loan terms and property performance; review balance sheets and cash flow statements, re-underwrite loans as needed, and escalate material findings or changes in asset condition to the broader team.
• Manages draw requests for funds held back for capital improvements, leasing, and other asset management activities.
• Actively manage the asset management report by promptly responding to correspondent servicer requests, including reserve disbursements, lease approvals, prepayment premium calculations, SNDA reviews, insurance waiver requests, master lease releases, and other post-closing obligations.
• Ensures borrower is performing as expected in accordance with the loan terms and conditions.
• Responsible for compilation of various corporate reporting needs, e.g. monthly delinquency reporting.
• Provide accurate and timely monthly, quarterly and annual data on the CML portfolio, highlighting portfolio composition, activity, risk exposure, and performance.
• Work closely with internal and external auditors and Investment Accounting to provide accurate and detailed portfolio accounting.
• Update and distribute the annual loan review template to correspondent servicers and analyze the property performance upon receipt of the completed form when returned throughout the year.
• Provide updated loan collateral value for each loan in the portfolio and review each loan with origination team and Head of Asset Management with particular focus those loans requiring heightened surveillance due to such things as increasing vacancy, major lease expirations, and declining NOI.
• Monitor loans on the surveillance list by collecting and analyzing property financials and preparing monthly and quarterly reports to proactively manage portfolio risk.
• Work with Investment Strategy and Investment Accounting teams by communicating new loan applications to assign segments, provide new loan number and set up transactions in Cash Management and CML software database.
• Participate in industry surveys by providing origination activity and portfolio performance to the MBA, ACLI, and rating agencies.
• Respond to Ad Hoc data requests from NLG Capital, Investment Accounting, and other projects as necessary.
• All other duties as assigned.

Minimum Qualifications

Preferred Qualifications

Benefits & Compensation

National Life offers a competitive total rewards package which includes your base pay, bonus opportunities, a comprehensive benefits package, and time off programs to help you recharge and meet your personal and family needs.

In addition to base salary, other rewards may include an annual bonus, quarterly bonuses, commissions, and other long-term incentive compensation, depending on the position. National Life offers a competitive total rewards package which includes : a 401(k) retirement plan match; medical, dental, and vision insurance; a company funded wellness account for director and below employees; 10 paid holidays; a generous paid time off plan (22 days of combined time-off for non-exempt employees and exempt employees have discretion in managing their time, including scheduling time off in the normal course of business, but in no event will exempt employees receive less sick time than required by state or local law); 6 weeks of paid parental leave; and 6 weeks of paid family leave after a year of full-time employment

National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.

National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA / SIPC, is a Broker / Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group.

National Life Group

1 National Life Dr

Montpelier, VT 05604