M&T Realty Capital Corporation is a wholly-owned subsidiary of M&T Bank. As a full-service mortgage banking company, we specialize in providing competitive financing nationwide for commercial real estate.
Overview:
The primary function of this position is the servicing and asset management of multifamily loans originated by M&T Realty Capital Corporation for Fannie Mae in accordance with their requirements.
Primary Responsibilities:
- Perform various servicing functions, including the following, in accordance with all applicable Fannie Mae, Freddie Mac, HUD and/or GNMA requirements:
- Monitor the timeliness and adequacy of borrowers’ loan payments, real estate tax payments and insurance premium payments, communicating, as needed, with borrowers, taxing authorities and insurance agents on late or erroneous payments;
- Perform various asset management functions, including the following, in accordance with all applicable Fannie Mae, Freddie Mac, HUD and/or GNMA, Life Company or other investor requirements:
- Throughout the life cycle of each assigned loan, serve as the key point of customer contact with the borrower on servicing- and asset management-related matters.
- Schedule and perform property inspections to assess the physical condition of the properties underlying the Fannie Mae, Freddie Mac, and HUD-insured loans that M&TRCC services; prepare inspection reports, summarizing the results of such inspections, and submit them to Fannie Mae, Freddie Mac or HUD, as applicable; and communicate with borrowers regarding any deficiencies or issues noted during such inspections, ensuring that appropriate remedial measures are taken.
- Request and analyze periodic operating statements, rent rolls and other documentation relating to the financial condition of the properties underlying the Fannie Mae, Freddie Mac, HUD/GNMA loans that M&TRCC services; prepare reports, summarizing the results of such reviews, and submit them to Fannie Mae, Freddie Mac or HUD, as applicable; and follow-up with borrowers regarding any questions or issues that emerge from such reviews.
- Analyze and process completion escrow draw requests, replacement reserve draw requests and construction loan draw requests from borrowers; coordinate the funding of such requests with appropriate internal departments and external investors.
- Willingness to travel out of state and stay overnight.
- Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management.
- Promote an environment that supports belonging and reflects the M&T Bank brand.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Complete other related duties as assigned.
Education and Experience Required:
Bachelor’s degree or the equivalent in work experience in the multifamily/commercial real estate industry including a minimum of 2 years of previous closing, loan administration, servicing, asset management, or underwriting experience relating to multifamily/commercial real estate loan transactions or in lieu of a degree a minimum of 6 years' combined higher education and/or work experience.
Experience with a wide variety of computer software applications, including Microsoft Office, Word, and Excel, as well as commercial loan information systems and internet applications is required.
The ability to function effectively as a team member is essential.
The ability to function effectively as a team member is essential.
Education and Experience Preferred:
Previous Fannie Mae multifamily asset management experience
Why Choose MTRCC:
We are 1 of 5 US-based lenders offering Fannie Mae, Freddie Mac, FHA, bridge loans, life company, debt funds and other capital source relationships
Our parent company, M&T Bank, is one of the largest commercial real estate lenders in the United States. We leverage the power of our balance sheet and other financial services to provide a wide array of resources to fit our clients’ needs.
Approved Fannie Mae DUS® and Freddie Mac Optigo® lender since 1989
One of the nation’s leading firms providing FHA-insured multifamily mortgages and an approved MAP lender with 30+ years of experience
We offer a competitive Multifamily Bridge Loan Program aimed at providing customers with shorter-term financing solutions as a bridge to closing on an agency or life company execution
Our long-standing relationships with numerous life insurance company investors gives us flexibility during the term of a loan
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $77,026.05 - $128,376.75 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.
Location:
Baltimore, Maryland, United States of America
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