Commercial Real Estate Asset Manager 1 (CMBS Asset Manager)
The Asset Manager has overall responsibility for an assigned portfolio of Commercial Mortgage Backed Securities (CMBS) securitizations originated pursuant to the Freddie Mac CME Program and any related subordinate debt (i.e. junior participations, B-Notes, mezzanine debt). With support provided by various functional and operational groups and pursuant to the terms of the applicable Pooling & Servicing Agreement and the Freddie Mac Servicing Guide, the Asset Manager has responsibility for (1) all loan level and deal level credit decision making and (2) all portfolio surveillance information that is provided to the various deal stakeholders. Credit responsibilities include the review and approval of: (a) borrower requests related to , leases, collateral releases/substitutions, letters of credit, changes in property management, reserve/holdback releases, loan extensions and loan modifications; (b) deal level servicing advances and advance recoverability; (c) special servicing transfers; and (d) loan covenants such as DSCR and Repair Escrows. Portfolio surveillance responsibilities relate to the delivery of accurate and timely loan and property level information to the various deal stakeholders such as rating agencies, trustees, special servicers and bondholders. Portfolio surveillance duties include: (a) quarterly review and analysis of property-level financial statements and rent rolls, (b) review of operating budgets; (c) monthly creation and/or review of the CMSA Watch List and (d) property re-underwriting when appropriate to make credit decisions. The Asset Manager will monitor the portfolio for potential or imminent defaults and proactively communicate relevant pre-default information to the special servicer and/or the controlling holder. The Asset Manager will manage relationships with subordinate debt holders, borrowers and all CMBS deal stakeholders through proactive communications and an understanding of the differing goals and needs of the various parties. In addition, the Asset Manager will monitor and communicate any potential operational risk to senior management.
3+ years of experience in one or more of the following: CMBS or Agency commercial real estate asset management underwriting experience; or commercial real estate; or low-income housing tax credit investment experience; or accounting/financial analysis experience.
Demonstrated sound credit skills and understanding of income producing real estate. Ability to read and understand basic commercial real estate loan documentation, securitization documents, including pooling and servicing agreements and related documentation. Exceptional customer service orientation. Strong verbal and written communications skills.
- 3+ years of experience in commercial real estate asset management, real estate finance, underwriting, origination, and/or servicing, or related experience.
- Fundamental knowledge of real estate and demonstrated ability of commercial CMBS.
- Bachelor s degree.
- MBA degree.
- Experience in reviewing and analyzing complex loan documents, intercreditor documents and deal documents.
- Strong credit and risk management exposure.
- Strategic thinker capable of critically evaluating stakeholder value.
- Detail oriented and highly motivated.
Wells Fargo & Company is a financial holding company and a bank holding company. It is a diversified financial services company. It...