Debt Production & Loan Asset Management Associate

Associate - Debt Production and Loan Asset Management

Job Location: Los Angeles, CA

Role Value Proposition:

MetLife Investment Management is a premier asset manager with breadth across various asset sectors and global markets, and strong asset-liability management capabilities. With a $500 billion combined domestic and international general account portfolio and a multi-billion dollar annual cash flow, Investments is an important contributor to MetLife’s financial performance. The primary objective of Investments is to maximize MetLife’s long-term economic value by investing in assets that support the company’s liabilities and produce a consistent stream of operating earnings. The enterprise has more than 900 dedicated professionals with extensive experience and expertise across public and private fixed income and private assets, including real estate. Visit us at www.metlife.com/investments to learn more.

Global Real Estate and Agricultural Investments maintain a portfolio invested in commercial real estate and agricultural mortgages, as well as real estate equities. Real Estate Investments sources and manages commercial real estate investments through seven regional field offices in the U.S. and International field offices in London, Tokyo, Mexico City and Santiago. The Associate will support the Mortgage team (Mortgage Production and Loan Management) for the MetLife General Account portfolio, its debt funds, and its separate investment management clients. On-going responsibilities include overseeing assisting loan production and asset management teams with underwriting loans for origination, valuations of the properties for existing loans, preparation of Collateral Valuation Template for loan ratings, preparation of the Preliminary/Final Transaction Memos and Loan Modification Memos, review and process loan draws and assisting with loan closing, complying with all reporting and accounting requirements; working with Borrowers, and Portfolio Managers.

Key Responsibilities:

• Support the seasoned Mortgage Team in assisting with originating new commercial real estate loans and loan asset management managing of the region’s commercial mortgage portfolio.
• Conduct property underwriting, valuation and market analysis essential to evaluate new commercial mortgage opportunities including evaluating the collateral, sponsorship, tenancy, and credit structure.
• Identify potential risks and propose appropriate structure to mitigate risks across a range of property types including industrial, life science, multi-family, office, retail, hotels and self-storage in Southern California, Nevada, Arizona, New Mexico and Hawaii.
• Preparation of transaction memoranda and presentation to investment committee for approval.
• Prepare quarterly property level analysis and reports to detect early warning issues by monitoring loan/property level performance as well as compliance to the loan covenants.
• Assist in managing the closing process for new transactions including negotiating loan applications and loan documents, completing all due diligence, and coordinating with a closing team that includes loan asset managers, production analysts, portfolio managers, attorneys, architects, appraisers, and other third-party service providers.
• Responsible for loan asset management and servicing matters including payoffs and extensions, prepayments, lease reviews, SNDA’s, reserves/draw requests, escrows, cash management, implementation and renewal of interest rate caps, loan assumptions, loan modifications, substitutions, property releases, financial reporting, inspections, post-closing items, and other borrower requests on assigned loan portfolio.
• Assist with loan asset management throughout the loan term, including property financial statement and rent roll analysis, quarterly/annual property valuations, reviewing and processing loan draws to fund capital improvement and leasing costs, and property inspections.
• Perform internal and external ad hoc reporting, pipeline tracking using MetLife’s proprietary mortgage production system and provide systems database support.

Essential Business Experience and Technical Skills:

Required:

• 3-5 years of relevant experience with demonstrated understanding of commercial real estate valuation and discounted cash flow analysis.

• Detailed and results orientated team player. Emphasis on communication skills (both oral and written) and ability to handle multiple assignments in a fast-paced environment.

• Strong quantitative and computer skills, specifically advanced Excel modeling and proficiency in Argus Enterprise.

• Preference given to candidates who have relevant experience and familiarity with the leading commercial real estate market data resources (i.e., CoStar, CBRE Econometric Advisors, Real Capital Analytics, etc.).

• Team oriented with strong work ethic and time management skills.

• In order to post for this position, the candidate will need the proper work authorization to work in the country where the position is located and not require relocation assistance.

Preferred:

• Bachelor’s degree in an applicable business-related field; MBA preferred.

Salary Grade

11A

Travel

5-10%