Is this a good job to take now given where were at: Currently working in development. See attached job description
Key Responsibilities
Assist with loan servicing and asset management throughout the loan term, including borrower requests, property financial statement and rent roll analysis, loan monitoring and/or set-up, prepayment premium calculations, and property inspections.
Ensure that all borrower requests (i.e. future funding draws, reserve releases, cash management, transfers of ownership, lease reviews, SNDA’s, easements, partial releases, management changes, etc.) are reviewed and processed in a timely manner.
Ensure that operating statements and rent rolls are obtained, analyzed and accurately entered into Voya’s mortgage loan system.
Review and approve property inspections completed by third-party service providers.
Assess, monitor and report property deferred maintenance issues or loan watch lists.
Assist with evaluation and reporting of asset performance for Voya’s highly structured real estate loans.
Assist in the review and analysis of various loan documents and drafting conditional side letters.
Perform internal and external ad hoc reporting and audits.
Interact with borrowers, clients and third party consultants including servicers, brokers and inspection firms.
Promote a positive attitude and working environment among fellow employees.
Follow company and departmental policies and procedures.
Develop efficient working relationships.
Other duties as assigned by department management
Loan servicing at most life insurance companies is a pretty boring and mundane lifestyle compared to development. Voya is a reputable shop that does interesting deals but being in their servicing department you’re not evaluating new deals (the fun stuff) you’re just making sure the property is performing and the owner is making their mortgage payments. Stay in development if you can.
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