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!
Colorado Residents: Northmarq carefully considers multiple factors to determine compensation, including a candidate’s education, training, and experience. The minimum salary for the Asset Manager position is $76,000.00 annually or [$36.54 per hour] and the maximum salary is $103,000.00 annually [or $49.52 per hour]. The compensation that is offered to a successful candidate will depend on the candidate’s skills, qualifications, and experience.
Required Education:
4 Year Degree
Asset Manager - Commercial Real Estate Finance
Northmarq – Denver, CO
NORTHMARQ - WHERE THE BEST COME TO THRIVE
Northmarq is entering a new era, and a landmark career opportunity is waiting for you. Northmarq is independent, and fiercely so, with the freedom to do things the right way. To hire the very best. To give them the resources to thrive. We do it because that’s what we believe. Northmarq is not held back by principles, we’re propelled by them. We and our clients are growing fast because we’re providing something rare and valuable: easy access to the industry’s best talent, an agile and collaborative style, and vast resources to execute flawless deals for our clients and partners. Northmarq was voted by Real Estate Forum as one of The Best Places to Work in Commercial Real Estate.
Northmarq is looking for an individual to join its Servicing department as an Asset Managerat our Denver, CO office. This position requires a deadline driven, service focused, and detail-oriented individual who will be responsible for underwriting borrower consent requests, mentoring and training others within the department, calculating/coordinating loan payoffs, new loan audits, financial statement and rent roll analysis, watchlist monitoring, reserve disbursement requests, processing insurance losses, and satisfying investor requirements. Focus will be on commercial mortgage risk management and customer service. Additional responsibilities may be added to align with department strategies and objectives.
Position Responsibilities:
Provide premier customer service to lenders, borrowers, other servicing staff and regional offices.
Manage a portfolio of Agency and/or CMBS loans with varying requirements and regulations.
Underwrite and make recommendations for lender consent of borrower requests, including lease approvals, maturity extensions, partial releases/substitutions of collateral, easements, condemnations, ownership transfers, loan assumptions, etc.
Coordinate with legal counsel and borrowers to document and close transactions upon final lender approval.
Provide training and mentoring across the team on areas of expertise including risk management, underwriting and general CRE knowledge.
Assist team members on advanced or complicated consent requests.
Calculate and coordinate loan payoff requests, including yield maintenance calculations.
Assist Manager(s) with monitoring team tasks, reviewing write-ups/recommendations, quality control, and lender feedback.
Analyze annual and quarterly financial statements for multifamily and commercial properties in accordance with the requirements of Freddie Mac and conduit lenders.
Follow up with borrowers regarding variances and general income and expense questions.
Perform financial covenant testing calculations including NOI, DSCR, debt yield, etc.
Review property repair verification inspections conducted by third party vendors and regional offices.
Follow up with borrowers to resolve any post-closing deferred maintenance items or other high-risk items identified during the annual inspection.
Process insurance loss requests, manage proceeds, and monitor the restoration of the property.
Review and make recommendations for releases from reserves including capital expenditure, repair, debt service reserve, rental achievement, TI/LC, and insurance loss.
Monitor and update monthly loan reports utilized by lenders and management to analyze portfolio risk.
Audit new loan boarding and setup to ensure loan terms and covenants were accurately captured in the servicing system.
Monitor and collect outstanding mortgage payments, carefully documenting collection efforts.
Minimal business travel for lender visits, industry/company conferences, etc. (1-3 times per year).
Serve on procedure committees updating policies for the Portfolio & Asset Management division.
May participate in department strategic initiatives.
Perform other reasonable tasks/projects as assigned within department.
What We're Looking For:
Bachelor’s Degree, preferably in the finance, real estate, or accounting area.
4-6 years of experience in finance or accounting. Background in commercial lending or asset management preferred.
Strong skills in Microsoft Outlook, Excel, and Word
Strong knowledge of commercial real estate finance and commercial loan terminology
Demonstrate strong analytical, asset management and underwriting skills.
Demonstrated leadership and training abilities
Excellent verbal and written communication skills
Strong organizational and prioritization skills, with ability to manage multiple assignments while meeting deadlines
Ability to work both independently and within a team, with minimal supervision
Attention to detail and accuracy required
Problem solving skills to reflect level of responsibilities
Ability to maintain sensitive and confidential information
For nearly 60 years, Northmarq has been a capital markets provider of debt, equity, and loan servicing to commercial real estate investors through its regional offices from coast-to-coast. Our expanded platform now includes investment sales for multifamily assets, further broadening our commitment to building stronger relationships that deliver better results throughout the entire life of ownership.
As a leading capital markets provider, Northmarq has decades of expertise built on strong relationships. As the company grows, the foundation built on our core values— integrity, respect and community —is critical. We pride ourselves on quality, customer service excellence and results.
We know our most valuable asset is our employees. Recruiting and retaining the best people in the industry is critical to our ongoing success. Each of our employees has opportunities for personal growth and works in a place where results are rewarded. Across all of our 40+ offices, we have a strong sense of camaraderie united by our corporate headquarters in Minneapolis, Minnesota.
We are privately owned and are part of the Pohlad Companies family of businesses.