Job Description
Job Description
At Northmarq, you can be part of something special. Northmarq is a unique capital markets resource for commercial real estate investors, providing our clients access to experts in debt, equity, investment sales, loan servicing, and fund management. We offer you a career path with best-in-class training, and we foster inclusive teams committed to collaboration, mentoring, and growth. At Northmarq, we will help you unlock your potential – whether you are an industry veteran or you're just getting started. Your new career is waiting. Start something special today. Northmarq was voted by Real Estate Forum as one of The Best Places to Work in Commercial Real Estate!
Position Summary
This position requires a deadline driven, service focused, and detail-oriented individual, who will be responsible for reviewing and processing a portfolio of Fannie Mae and Freddie Mac assumption/transfer requests, with a focus on property financial statement and rent roll analysis, borrower credit analysis, preparation of underwriting packages, and Agency and Master Servicer submissions. Focus will be on commercial mortgage risk management and customer service. Additional responsibilities may be added to align with department strategies and objectives.
Specific Responsibilities
- Support and assist senior team members with reviewing and processing a portfolio of Fannie Mae and Freddie Mac assumption/transfer of ownership requests, adhering to Agency guidelines.
- Serve as a secondary point of contact for borrowers and the primary contact for third-party vendors, with assisted written and oral responses to internal and external parties from senior team members.
- Manage deal flow between team members, vendors, and clients, prioritizing daily tasks and identifying immediate needs.
- Prepare, inventory, and review due diligence documentation, with assistance from senior team members. Request additional information as required.
- Prepare assumption/transfer of ownership memoranda, processing checklists, analyzing due diligence, and performing other various support functions, as directed by senior team members.
- Utilizing CRE industry standard analytic services (CoStar, Moody's, Etc.), gather and analyze multifamily market data, including demographics, sales and rent comparables, absorption surveys, and occupancy studies.
- Evaluate property operating statements, rent rolls, and other property related documentation received.
- Prepare underwriting templates based on property's historical financial statements, projections, and other market data.
- Engage, review, and analyze third-party reports (Appraisal, Property Condition Assessment, Environmental, Zoning, and Seismic), if required.
- Assist with submitting and processing assumption/transfer of ownership requests to the applicable Agency and/or Master Servicer.
- Assist in coordinating third-party onsite inspections, if required.
- Assist insurance and closing teams, as needed.
- Pre-closing and post-closing support, assisting in preparation of transaction approval letters and final delivery documentation.
- Be apprised of changing Agency guidelines, while staying current on multifamily market trends and regulatory developments impacting commercial real estate.
Experience
Education: Bachelor's Degree, preferably with major in real estate finance, business administration, or accounting. Other Majors will be considered.
Work: 1-3 years' experience in finance or accounting. Familiarity with the Fannie Mae and Freddie Mac multifamily loan programs is preferred.
Competencies:
- Strong analytical, underwriting, and math skills, with a demonstrated ability to work independently and handle multiple projects.
- Proficient in Microsoft Office (Word, Excel, PowerPoint), with knowledge of Adobe, database applications is a plus.
- Working knowledge of commercial real estate finance and commercial loan terminology.
- Experience with CRE analytic services (CoStar, Moody's, Etc.).
- Ability to work both independently and within a team, with minimal supervision.
- Proficient organizational and prioritization skills, with ability to manage multiple assignments while meeting deadlines.
- Client service-oriented with effective oral and written communication skills.
- Ability to maintain sensitive and confidential information.
- Ability to travel for site inspections as required.
Northmarq offers a highly competitive benefits package including: medical, dental, vision, paid time off, 401K match and an annual discretionary contribution based on business performance, paid parental leave and adoption assistance, education assistance, volunteer paid time off, charitable contribution match and so much more!
DC Residents: Northmarq carefully considers multiple factors to determine compensation, including a candidate's education, training, and experience. The salary range for the Asset Management Analyst II position is $70,000.00 to $90,000.00 annually. This range is a good faith estimate and the actual compensation that is offered to a successful candidate will depend on the candidate's skills, qualifications, and experience.
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