What exactly is "CMBS Coordination", and what is the upside and downside of applying for such a position?
I would guess the salary range is 55-65k?
With a mid-long term goal of be strictly on the investment side of RE (be it CMBS or property level RE Assets).
What is here in terms of growth, future marketability, gleaning skill-sets for entrepreneurial ventures.
Here is more color:
Communicate to appropriate parties the change in status of a loan to REO
Ensure monthly reconciliations are being completed and executed by REO and Company Parties
Work with REO AM to ensure Property Manager is in place with the appropriate CMBS agreements
Ensure compliance items are being completed in a timely manner
Work with REO AM to ensure a Budget and Business plan are created in a timely manner
Ensure appropriate procedures are completed for any liquidation and in compliance with the Pooling and Servicing Agreement
Act as Point of Contact for the REO Asset Managers
Act as point of contact between CMBS, Accounting, Operations and REO
That job description reads to me as an admin position in the REO department of a special servicer.
Are you working already, or in college looking for a first job? Special servicing could be a great start. The largest special servicer, LNR, has an analyst program that seems to position people quite well. However, the job detailed in your post doesn't look like anything you want to be doing.
Agreed, you could do much better at the entry-level. If you're desperate, this could get your foot in the door in the CMBS biz, I suppose.
Cumque ipsum voluptas doloremque ut debitis maiores porro. Natus consequatur dolorem eveniet impedit asperiores nostrum. Rerum sint rerum magni consequatur delectus praesentium tenetur.
Voluptas facilis minima unde enim aspernatur. Adipisci omnis odit non est. Illo omnis similique illum et. Recusandae provident odio consectetur sint magni quas similique.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...