At American Equity we offer leading annuity products that help empower our clients to fulfill their needs and wants in retirement. Our success comes from hiring high-energy individuals who embody the beliefs that drive our unique culture. We currently fund over half a million retirements nationwide, and have been headquartered in West Des Moines, Iowa, for over twenty-five years with satellite offices in Charlotte, NC and New York, NY.
GENERAL PURPOSE OF THE JOB:
Responsible for originating and underwriting commercial real estate mortgage loans within assigned markets and in compliance with the program guidelines relating to the property, underwriting standards and other requirements. Management and servicing of the existing commercial mortgage loan portfolio in assigned markets, including the annual financial review, potential problem loan resolution and ongoing monitoring of the health of the portfolio, adherence to reporting requirements, and loan servicing requests.
This role will be hybrid out of our West Des Moines, IA location.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Loan Origination:
- Originates commercial mortgage loans to comply with the program’s risk/return parameters. Facilitates origination and underwriting of commercial mortgage loans for the Senior Mortgage Originator, as needed.
- Manages an assigned number of markets; develops and implements marketing objectives and fosters an effective network of Correspondent and deal sourcing relationships, with oversight from the Senior Mortgage Originator.
- Gathers and evaluates economic, demographic and other commercial real estate market data.
- Underwrites and structures loan requests through the review of loan packages; analyzes financial data including property operating cash flow and rent rolls, determination of quality and functionality of collateral, borrowing entity structure and sponsor commercial real estate experience and financial strength.
- Negotiates satisfactory commercial mortgage loan terms, with input from the Senior Mortgage Originator, as needed.
- Responsible for presentation materials including the transaction’s investment risk and viability and presents loan opportunities for pre-screening.
- Prepares commercial mortgage loan applications/term sheets and commitment documentation, with oversight from the Senior Mortgage Originator.
- Follows the commercial mortgage loan through Closing; responsible for third party report and other due diligence item approval, and satisfactory resolution of any closing issues, with input from the Senior Mortgage Originator as needed.
Portfolio Management/Surveillance:
- Performs the portfolio management function for existing commercial mortgage loans in assigned markets and contributes to the preparation of various recurring and ad hoc reports.
- Completes the annual financial review of the commercial mortgage loans in the portfolio.
- Conducts the quarterly review of assigned loans on the Monitor List and Watchlist, and the ongoing monitoring of the portfolio to identify heightened risk, with support from the Mortgage Analyst.
- Identifies, recommends and implements approved solutions or workout strategies for potential problem loans (e.g., discounted payoff, loan modification/restructure, maturity extension, note sale, foreclosure), working with the Senior Mortgage Originator as needed.
- Participates in the asset management function for equity investments.
Loan Servicing:
- Completes and resolves commercial mortgage loan servicing requests and issues from the Commercial Mortgage Servicing team requiring underwriter input and approval.
- Manages timely payoffs of upcoming commercial mortgage loan maturities and identifies refinance opportunities by working with the Commercial Mortgage Servicing team.
Other:
- Travels as necessary to assess and inspect commercial real estate properties and loan opportunities, learn market dynamics and meet with Correspondents.
- Assists with training, development and provides work direction to the Mortgage Analyst.
- Completes special projects and prepares reports as needed.
- Performs other related work as assigned.
SUPERVISORY RESPONSIBILITIES:
Direct Reports: None
General Description of Indirect Reports (2 and 3-downs): None
EDUCATION AND/OR EXPERIENCE:
- Bachelor’s degree in Real Estate, Finance, Business Administration, Accounting or related field of study; plus a minimum of six (6) years of related experience; or equivalent combination of education and/or experience.
- Master’s degree a plus.
CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:
None required for this position.
KNOWLEDGE, SKILLS AND ABILITIES:
- Broad knowledge of commercial real estate mortgage lending process, practices, laws, rules and regulations, including origination and underwriting.
- Proven ability to make prudent lending and underwriting decisions.
- Strong planning and organization skills with the ability to work on multiple assignments simultaneously.
- Ability to successfully handle pressure and meet deadlines in a fast-paced work environment.
- Strong analytical and research skills with ability to accurately assess risk factors.
- Ability to apply advanced mathematical concepts and applications.
- Ability to define problems, collect data, establish facts, and draw valid conclusions, making independent decisions.
- Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists.
- Strong attention to detail.
- Proficient in the use of Microsoft Office applications with emphasis on Word, Excel and PowerPoint.
- Effective verbal and written communication skills with ability to present information to top management, public groups, and/or boards of directors.
- Ability to build and manage external business relationships.
- Ability to travel up to 15% of the time.
- Ability to work cooperatively and successfully with employees, customers, and other third parties.
- Strong customer service orientation and interpersonal skills.
- Ability to effectively present information and respond to questions from groups.
- Ability to write speeches and articles for publication that conform to prescribed style and format.
- Ability to read, analyze, and interpret technical journals, financial reports, and legal documents from regulatory agencies, and other members of the business community.
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What We Do
American Equity* Fixed Index Annuities * Retirement Planning * Customer Service An American-owned and operated company headquartered in the heart of the Midwest, American Equity Investment Life Insurance Company® is a leader in the fixed indexed annuities marketplace. American Equity’s growth and success is attributed to our dedication to excellent customer service and emphasis on building customer relationships. “The One Who Works for You!®” serves as the foundation for the way American Equity does business and values its more than 500 employees. Guided by our Principles of Excellence, we do more than sell retirement annuity products -- we are dedicated to fostering opportunity and innovation to meet the ever-changing needs and goals of retirement. "It's About the People" is the American Equity story and the legacy of our founder David J. Noble. This commitment to excellence includes our employees, agents, partners, and contract owners. We thank you for entrusting us with the things that matter most. When your retirement begins, you want to ensure you can enjoy it, which is why it’s important to have reliable support that can help fund every day of your golden years. After all, your life of hard work has earned you the retirement you planned for. These are the guiding principles that define everything we do. American Equity is the one who works for you.
