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.
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