What are the responsibilities and job description for the Multifamily Loan Servicing Specialist position at Kennedy Services?
Multifamily Loan Servicing Specialist Primary Objective:Manage a portfolio of commercial loans secured by senior and subordinate positions in affordable multifamily developments, with a focus on collections and asset performance.Key Responsibilities:Maintain regular contact with borrowers, including those with underperforming or nonperforming loans.Track and report on portfolio performance, ensuring timely and accurate reporting.Review and analyze audited financial statements for rent-restricted residential developments to model financial performance and calculate interest due based on available cash flow.Prepare loan history reconstructions to determine unpaid principal and accrued interest balances.Assist in developing and implementing loan workout strategies to maximize asset recovery in line with client objectives.Review and interpret commercial loan documents to ensure servicing and covenant compliance.Address past-due items and default situations, escalating as necessary.Communicate effectively with staff, management, and clients.Adhere to timelines and deadlines set by client and department needs.Independent Judgment:Identify potential issues, including inconsistencies, errors, and defaults, and report them to managers and clients.Demonstrate understanding of servicing performing, underperforming, and nonperforming affordable multifamily loans, including collections, negotiating terms, securing collateral, asset recovery, and foreclosure processes.Qualifications:Must have 5 years of experience managing affordable multifamily loans.Bachelor’s degree in business, finance, accounting, or related field, or equivalent experience.Knowledge of commercial loan documentation and servicing practices.Strong attention to detail, organizational skills, and problem-solving abilities.Ability to think critically and assess broader implications of decisions.Proficient in Microsoft Excel, Word, Outlook, and adaptable to new loan servicing software.Professional verbal and written communication skills.Ability to work independently, meet deadlines, and thrive in a fast-paced environment.Comfortable with technology and Microsoft Office Suite applications.Additional Information:This position is fully onsite.Duties, responsibilities, and qualifications may evolve over time based on business needs.Dress code is business casual with occasional business attire.#zr
Salary : $47 - $56
