Analyst, Commercial Special Servicing Support

Onity Group Inc.; United States; On-site; USD 55,000 - 70,000; Full time

Benefits offered by this job

Health benefits

401(k) match

Paid time off

Life insurance

Job summary

Onity Group Inc. is a leading non-bank financial services company providing mortgage servicing and originations solutions through its subsidiary, Onity Mortgage.

The Commercial Special Servicing Analyst administers a wide range of tasks on a portfolio of commercial loans, including analysis of collateral, loan accounting, document review, vendor management, market research, and investor communication. The role involves coordination with offshore resources, interaction with primary servicing reps

Qualifications

• Minimum 2 years’ experience with defaulted commercial loans.
• Understanding of commercial loan documents, including interest accrual, tax and insurance administration, lender advances.
• Ability to work independently with minimal supervision and meet deadlines.

Responsibilities

• Review loan accounting and prepare calculations for legal demands.
• Manage inbound calls and correspondence from borrowers and internal groups.
• Review property valuation reports from appraisers and market sources.
• Review collateral property inspections and operating information.
• Review commercial loan documents for borrower requirements and covenants.
• Monitor property tax and insurance status for all loan collateral.

Skills

Communication skills

Independent work

Problem-solving

Attention to detail

Time management

Tools

MSP

REALSynergy

Strategy

Enterprise

Microsoft 365

Adobe

Job description

Job Description

The Commercial Special Servicing Analyst administers a wide range of tasks associated with an assigned portfolio of geographically diverse, non-performing, commercial/business purpose mortgage loans secured by investor owned commercial use, mixed use, SFR/multifamily rental and/or SFR/multifamily transitional properties. The role duties include analysis of collateral property information, loan accounting, loan document review, vendor administration, market research, direct investor communication, reporting, and assisting Special Servicing Asset Managers as needed. The position will frequently engage with Company offshore resources. The position may also support Primary Commercial Servicing representatives with property and/or market analysis, borrower interaction, and investor inquiries, as appropriate.

Job Functions And 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.

Key Result Areas

• 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.

Qualifications

• 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.

Training / Licensing Requirements

• Must pass the Company’s Background Screening process prior to beginning employment. Additionally, as a condition of employment, you may be required to pass client-specific background check requirements or Federal/State licensing requirements, if applicable.

Salary Range

The salary range for this position is expected to be $55,000 to $70,000 per year, depending on geographic location, experience, and other qualifications of the successful candidate.

Bonus Eligibility

This position is also eligible for bonus based on performance and subject to the terms of the Company’s applicable plans.

About Us

Onity Group Inc. is a leading non-bank financial services company providing mortgage servicing and originations solutions through its subsidiary, Onity Mortgage, formerly known as PHH Mortgage. Onity Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to customers, clients and investors.

At Onity, we strive to earn our customers’ loyalty every day. We do this by consistently delivering exceptional service and building trust through reliability, integrity, and following through on our commitments. We operate through the lens of the customer, understand the importance of homeownership, and take pride in helping homeowners. Collectively this fosters long-term relationships, ensuring our customers feel valued and supported. We expect all employees to interact with and engage our colleagues and our customers with respect, courtesy and professionalism, and to achieve results consistent with our service delivery standards.

Onity is intensely focused on hiring, developing and retaining the best talent in the industry! Our commitment to inclusion and equal opportunity ensures that we sustain our reputation as an outstanding place to work, a great business partner and a valued community member. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity or Veteran status. If you have a disability or special need that requires accommodation, please let us know.

Onity Group Inc. offers a comprehensive benefits package including 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; and more. Visit jobs.onitygroup.com for details.