Note: The job is a remote job and is open to candidates in USA. Onity Group Inc. is a non-bank financial services company providing mortgage servicing and origination solutions. The Commercial Special Servicing Analyst supports a portfolio of non-performing commercial and business-purpose mortgage loans by analyzing collateral and loan information, administering vendors and servicing activities, communicating with investors and external special servicers, and assisting asset managers and primary servicing representatives.
Responsibilities
- Review loan accounting and prepare/verify calculations for legal demands
- Manage inbound calls and correspondence received from borrowers and internal groups as appropriate
- Review property valuation reports from appraisers, brokers, market sources, etc
- Review collateral property inspections
- Review property operating information received from borrowers and/or property managers
- Review commercial loan documents for borrower requirements and covenants
- Review performing loan reports to identify commercial loans at risk of transfer to special servicing
- Monitor property tax and insurance status for all assigned loan collateral
- Serve as main point of contact and liaison with external special servicers
- Administer requests from external special servicers
- Administer external special servicer and Asset Manager instructions for all posting and disbursement transactions as needed
- Maintain system data and reports as needed to ensure accuracy and timeliness
- Regularly interact with Company resources in various departments, including offshore
- Review servicing agreements for servicer responsibilities, authorities and deadlines
- Administer invoices and reports from third-party vendors, including attorneys, inspectors, appraisers, property managers, investigators, receivers, brokers, contractors, title agents, insurance adjusters, etc., as needed
- Support Commercial Primary Servicing representatives in borrower outreach efforts, market analysis and investor inquiries, as needed
- Comply with all Company requirements for training, compliance, audits and reporting
- Anticipate/identify issues that could impact Company/client operations and suggest solutions
- Complete other activities and duties as may be assigned
- Acknowledge/respond to external special servicer requests with 24 hours
- Provide daily updates to external special servicer for requests outstanding for more than 24 hours
- Process posting instructions from external epectial servicers with 24 hours
- Process invoices within three (3) days of receipt
- Maintain 100% accuracy for all accounting calculations
- Provide appropriate instructions to other departments within agreed upon servicing level standards
- Successfully complete Company annual training requirements of not less than 40 hours
Skills
- Minimum 2 years' experience with defaulted commercial loans
- Demonstrated understanding of commercial loan document provisions, including interest accrual, tax and insurance administration, lender advances, etc
- Demonstrated understanding of commercial loan covenants and covenant compliance
- Demonstrated understanding of CRE income property operating documents such as rent rolls and income statements
- Demonstrated effective communication skills, both verbal and written
- Demonstrated ability to work independently with minimal supervision
- Demonstrated effective problem solving and decision making skills
- Demonstrated ability to comply with detailed reporting requirements
- Demonstrated ability to work under pressure, meet deadlines and adjust to changing priorities
- Demonstrated skills with Microsoft 365 Suite, Adobe applications
- Demonstrated skills with loan servicing applications (such as MSP, REALSynergy, Strategy, Enterprise, etc.)
- Demonstrated teamwork skills to collaborate with associates in multiple departments
Benefits
- This position is also eligible for bonus based on performance and subject to the terms of the Company’s applicable plans.
- Medical, dental and vision
- Up to 3% match on 401(k) contributions
- Generous paid time off
- Company-paid life, accident and disability coverage
- Programs for mental, physical and financial wellness
Company Overview