PrudentialAsset Resources (PAR) is a subsidiary of PGIM Real Estate Finance (PGIMREF) and one of the largest commercial and multifamily mortgage servicingfirms in the nation. PGIM REF is adiversified mortgage lender with a 125-year commitment to the commercial realestate market and an expanding global reach. Assets under management include FannieMae, Freddie Mac, CMBS, FHA, and insurance company general account loans. The company is a rated Primary, Master andSpecial Servicer.
PAR is seeking a Senior AssetManager to join its Freddie Mac team. Thecandidate will be responsible for independently managing a complex portfolio ofFreddie Mac commercial real estate loans with minimal supervision.
The candidate shall possess excellent writing skills, be detail oriented and focused onaccuracy, strong credit skills to assess and managerisk, produce decisive credit action recommendations, analyze and articulatewatchlist comments, ensure loan covenant compliance, and assist in maturitymanagement.
The candidate must providesuperior customer service, create efficiencies and promote trust. The candidateshall possess good common sense, a sense of urgency, sound business judgmentand will be dependable demonstrating an elevated level of integrity.Responsibilities:
Credit Actions: Perform cash flowanalysis, market surveys, document review and other due diligence necessary toproduce prompt, well written and supported case recommendations for complexborrower requests. Transactions involveloans located throughout the US. Borrower requests may include assumptions, modifications,partial releases, property substitutions, partial ownership transfers, leaseapprovals, easements, reserve disbursements, insurance losses, and propertymanagement changes.
Triggers: Ensure loan covenantcompliance requirements are managed timely and effectively including initialinput, post closing monitoring, maintenance of collateral, and debt servicethresholds.
Watchlist: Provide written analysisidentifying key trends and issues noting any corresponding mitigates. Take initiativeto improve quality of reporting and early detection of issues. Possess theability to identify loans for addition or removal from the watchlist and toconcisely communicate relevant issues, remedies and mitigates with management.
Create Efficiencies: Attention to accurate detail, take initiativeto continually improve the integrity of portfolio information and standardizedreporting while ensuring the highest quality work product. Buildsynergies with both internal and external groups such as originations, legal,compliance, servicing, accounting, Freddie Mac and third-party vendors tocreate efficiencies and transparency. Proactively identifiesand leads implementation of innovative and practical solutions.
5+ years of equivalent commercial real estate lending/assetmanagement experience.
Strong understanding of commercial loan documents with varyingdegree of complexity.
Understanding of theAgency Guides, Subservicing Agreements, and Pooling and Servicing Agreements.
Efficiently utilize proprietarytechnology and be flexible and adapt to consistent change.
Solid understanding of the life of a commercial loan (loan closingto disposition of asset).
Excellent interpersonal and customer service skills including theability to create/build and maintain relationships with internal and externalparties.
Excellent organizational skills are required (e.g. multitask in atime sensitive environment).
Personal computer skills (Excel, Word, Outlook, Sharepoint, PowerBI, etc.).