Portfolio Manager

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!

Northmarq is seeking an experienced Portfolio Manager to join our Servicing team in our Bloomington office. This position requires a deadline-driven, service-focused, and detail-oriented individual who will be responsible for financial statement and rent roll analysis, watchlist / surveillance, reserve disbursement requests, new loan audits, underwriting borrower consent requests, calculating / coordinating loan payoffs, and satisfying investor requirements. The focus will be on commercial mortgage risk management and customer service. Additional responsibilities may be added as the company grows (In line with department goals and objectives).

This position offers a flexible work environment and is available for an immediate start.

Position Responsibilities :

• Plan and schedule own workload to efficiently meet benchmarks within the department.
• Provide premier customer service to lenders, borrowers, other servicing staff and regional offices.
• Manage a portfolio of commercial real estate loans spanning across various Life Insurance Company Lenders with varying requirements and regulations.
• Analyze annual and quarterly financial statements for multifamily and commercial properties in accordance with the requirements of various Life Insurance Company Lenders, and other investors.
• Follow up with borrowers and management companies regarding variances and general income and expense questions.
• Review and make recommendations for releases from reserves including replacement, repair, capital expenditure, TI / LC, and insurance loss.
• Monitor maturing loans and provide the required notices to borrowers.
• Monitor and update monthly loan reports utilized by investors 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.
• 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.
• Calculate and coordinate loan payoff requests, including yield maintenance calculations.
• Monitor and collect outstanding mortgage payments, carefully documenting collection efforts.
• Grow and develop strong relationships with Northmarq's Life Insurance Company Lenders.
• Provide training and mentoring across the team on areas of expertise including analysis underwriting and general CRE knowledge.
• Assist team members on advanced and / or complicated consent requests.
• Assist Manager(s) with monitoring team tasks, reviewing write- ups / recommendations, quality control, and lender feedback.
• Minimal business travel for lender visits, industry / company conferences, etc. (1-3 times per year).
• Serve on procedure committees updating policies and procedures for Portfolio & Asset Management.
• Perform other reasonable tasks / projects as assigned within the department.

What We're Looking For :

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!

Minnesota Residents : Northmarq carefully considers multiple factors to determine compensation, including a candidate's education, training, and experience. The salary range for the Portfolio Manager position is $85,000.00 to $110,000.00 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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