Job Description
JLL supports the Whole You, personally and professionally.Our people at JLL are shaping the future of real estate for a better world by combining world class services, advisory and technology to our clients. We are committed to hiring the best, most talented people in our industry; and we support them through professional growth, flexibility, and personalized benefits to manage life in and outside of work. Whether you’ve got deep experience in commercial real estate, skilled trades, and technology, or you’re looking to apply your relevant experience to a new industry, we empower you to shape a brighter way forward so you can thrive professionally and personally.
Transfer Asset Manager Position Overview:
The Transfer Asset Manager will be responsible for a wide variety of work related to processing Transfers that involve a change of ownership in our Borrower organization structures and Loan Assumptions from the sale of a Property that require Lender Consent from Fannie Mae, Freddie Mac, Master Servicers, Life Companies and other Investors.
Responsibilities will include but is not limited to providing a quantitative and qualitative analysis the proposed transaction, requiring Lender consent in accordance with JLL policies and procedures and Lender Servicing Standard. The Asset Manager will proactively manage the life cycle of the request to ensure that exceptional service is provided to internal and external clients, while processing and mitigating risk and managing a high volume and high demanding work environment. Reviews include but are not limited to a review of the loan documents, loan history and performance, property operational history and performance, 3rd party report reviews, including physical needs assessments and environmental reports, site inspections, credit analysis, organizational documents, legal memos,
Prior experience with Fannie Mae and Freddie Mac must, and knowledge of affordable housing relating to Low Income Housing Tax Credits (LIHTC) preferred.
Responsibilities and Duties:
Manage the life cycle of a Transfer Request, from initial contact with Borrower through the close out of the transaction
Manage Buyer/Seller expectations, mitigate issues, ensure that reviews are progressing with Client timelines and keep Senior Management and Loan Officers update to date.
Manage and mentor with other team members to determine the scope of work that is required to process the transaction, taking into consideration, JLL and Lender Servicing Standard, Loan Documents, Loan Product and Guide requirements.
Provide oversight over team workflows that includes engagement, collection of due diligence materials, ordering reports, engaging counsel and managing both agency and JLL system requirements.
Underwrite Transfer request in accordance with JLL guidelines and requirements, keeping with timelines: Analyze 3rd party reports for inspection, physical needs, and environmental – conduct risk assessment and provisional needs e.g. post-closing repairs, reserve increases, environmental releases etc.
Analyze, interpret, and underwrite complex multifamily real estate transactions in compliance with respective agency guidelines
Assess Transferees organizational capacity to assume Loan obligations by reviewing real estate experience, financial capacity and credit worthiness, etc.
Prepare a thorough underwriting narrative that includes a description of the proposed transaction, purchase and sale, loan history, review and analysis of 3rd party reports, a property operational review, market analysis, proposed management changes, proposed loan modifications, loan document requirements, legal review/issues, proposed organization structure/documents, a complete credit worthiness evaluation and make a final recommendation for Chief Underwriter’s approval
Identify potential risks and/or problems and understands the big picture implications
Provides mitigants to discuss with Chief Underwriter and relationship manager
Develop and maintain strong relationships with agency personnel and build New Sponsor relationships.
Interfaces and collaborates with support staff to review, underwrite, and close the transaction.
Provide support to Asset Managers, Underwriting and Production as needed
Interface and provide support to JLL originations teams, to facilitate Intercreditor document execution
Other duties as assigned
Qualifications:
Knowledge in Multifamily real estate knowledge a must
Knowledge of underwriting practices, loan servicing, closings, loan surveillance, credit analysis
Background with Fannie Mae, Freddie Mac multifamily real estate, a plus
Must be proficient in Microsoft Excel and Word
Strong math, analytical, verbal, writing and organizational skills
Exceptional time management skills, with ability to perform under demanding deadlines, multitasking and working on a very high work volume
Ability to deal directly with clients and lenders in a professional manner, work independently and in a team environment
Bachelor degree preferred
#LI-EL
If this job description resonates with you, we encourage you to apply even if you don’t meet all of the requirements below. We’re interested in getting to know you and what you bring to the table!
Personalized benefits that support personal well-being and growth:
JLL recognizes the impact that the workplace can have on your wellness, so we offer a supportive culture and comprehensive benefits package that prioritizes mental, physical and emotional health.
About JLL –
We’re JLL—a leading professional services and investment management firm specializing in real estate. We have operations in over 80 countries and a workforce of over 102,000 individuals around the world who help real estate owners, occupiers and investors achieve their business ambitions. As a global Fortune 500 company, we also have an inherent responsibility to drive sustainability and corporate social responsibility. That’s why we’re committed to our purpose to shape the future of real estate for a better world. We’re using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people, and our communities.
Our core values of teamwork, ethics and excellence are also fundamental to everything we do and we’re honored to be recognized with awards for our success by organizations both globally and locally.
Creating a diverse and inclusive culture where we all feel welcomed, valued and empowered to achieve our full potential is important to who we are today and where we’re headed in the future. And we know that unique backgrounds, experiences and perspectives help us think bigger, spark innovation and succeed together.
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