Salary Range:

$98,200.00 - $161,900.00

(Depending on knowledge, skills, abilities and location.  Certain level jobs may be eligible for bonus, commission, and/or equity awards.)

Posting Date:

December 5, 2024

This job will be open and accepting applications for a minimum of three days from the date it was posted.

Benefits* worth writing home about:

• Medical, dental, and vision coverage for employees and their families
• Life, disability and family Leave
• 401(k) and Roth 401(k) with employer match
• Wellness program, employee assistance program, “Commute Trip Reduction” (CTR) and various employee discounts 
• Generous vacation, sick leave, 11 paid holidays, and 16 hours of paid leave every year for community service work
• Free employee checking account and employee home loan discounts

*For eligible employees averaging 20 or more hours per week.

EO/AA Employer including Vets and Disabled.

Qualified applicants with arrest and conviction records will be considered in accordance with legal requirements.

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Job Description Summary:

CRE Asset Manager V provides a primary point of contact for borrowers, internal departments and investors regarding HomeStreet Commercial Real Estate loans. This role is responsible for managing an assigned portfolio of complex CRE loans, including participation loans, construction projects, multiple collateral and linked finance structures, performing a wide range of risk management and borrower/investor service tasks, such as property and/or borrower financial analysis, property inspection, loan covenant management and enforcement, including defaulted loan management. This role ensures that all Asset Management functions are performed in accordance with HomeStreet CRE Lending Policy and Procedures, and investor guidelines where applicable. This role is supported by portfolio designated Credit Analysts and general Servicers.

Job Details:

PRIMARY FUNCTIONS:

• Review loan documents for covenants, maintaining strict tickler system to ensure compliance.
• Analyze property level operating information to determine if collateral real estate is performing in accordance with underwritten and investor guidelines, and market comparable properties.
• Analyze borrower and/or guarantor financial information, including individual and/or corporate tax returns to determine financial ability for loan obligors to meet loan requirements and project needs. 
• Perform and/or review property inspections or project progress reports to ensure collateral is being maintained/operated in accordance with loan requirements and commercially reasonable parameters.
• Monitor assigned portfolio for loan credit risk in accordance with HomeStreet and investor Watchlist compliance guidelines, including annual Asset Quality Rating (AQR) reviews and Problem Loan Reports.
• Administer borrower requests for lender consent and disbursements from loan proceeds and/or reserves, including insurance loss draft proceeds, as needed.
• Manage maturing loans through payoff or conversion, including preparation of payoff quotes and documents as needed.
• May supervise a team of Asset Managers
• Mentor junior members of the Asset Management team.
• Monitor staff due dates to ensure required timelines are met.
• Provide backup to head of Asset Management.

REQUIRED QUALIFICATIONS:

• High school diploma or equivalent required, Bachelor’s in related field preferred.  Education should include courses in economics, accounting, finance, commercial real estate or business management.
• 7 years’ experience in commercial real estate finance Asset Management, or equivalent experience in commercial real estate finance disciplines, such as underwriting, reserve administration, defaulted loan management, special servicing, credit analysis and/or construction loan administration. 
• Demonstrated experience in commercial or multifamily property analysis, including OSAR operational reporting, property management agreements, loan document review, physical condition assessments, market research, title review and borrower request (ex: property management change, easements, reserve disbursements, etc…).
• Demonstrated excellent written and verbal communication skills.
• Demonstrated experience working closely with other commercial real estate finance areas, such as inspection vendors, appraisers, property managers, accountants, brokers, insurance adjusters, etc.
• Demonstrated ability to work independently, take initiative, set priorities, follow through on assignments, assess changing conditions and make recommendations with supporting analysis.
• Demonstrated ability to display good judgment, maintain a professional demeanor, accept responsibility and handle confidential information.
• Demonstrated experience with common office system applications, including Word, Excel, and Adobe.

DESIRED QUALIFICATIONS:

• Prior experience with Fannie Mae multifamily lending products, including Fannie Mae underwriting and administration guidelines, Green Loan lending program, and MAMP applications.
• Prior experience with McCracken Strategy® or Enterprise!® loan servicing platforms.
• Prior experience with Backshop® Commercial Real Estate software.
• Prior experience with CoStar, REIS or CBRE market research products.
• Prior experience with CREFC IRP.
• Exceptional proficiency with Excel.

MENTAL AND PHYSICAL CONSIDERATIONS:

• Able to operate a Personal Computer and view information on a monitor.
• Must be able to sit for many hours each day.
• Must be able to communicate via telephone and possess dexterity to include filing document, reaching and bending.
• May be required to stand for extended periods of time.
• Ability to lift or carry up to 10 pounds
• Ability to speak and understand English and express ideas and have difficult conversation in person and over the telephone
• Ability to listen and comprehend speech.
• Ability to problem solve, make decisions, interpret data and information, read, write and organize information in an orderly manner.
• Willing and able to travel as needed.

WORK ENVIRONMENT:

• Normal business office environment.
• Ability to work in artificial light for extended periods of time.

This Position Description may not be limited to the Functions and Requirements as outlined, now or in the future. For example, changes in corporate needs, position demands, or individual performance may result in changes to the Functions or Requirements of this position.

Area:

Commercial (Sales)