VP, Loan Servicing

Title: Vice President, Loan Servicing

Location: New York City or Garden City (Hybrid - 3 days onsite / 2 remote)

Compensation: $110,000 - $140,000 + discretionary bonus + comprehensive benefits

Job Summary:

We are seeking a seasoned loan servicer to join our Affordable Multifamily team in our Garden City, NY or Midtown Manhattan location that services a portfolio in excess of $4 billion in assets. Our portfolio consists of 285+ multifamily affordable housing properties primarily financed with tax exempt bonds. The ideal candidate will have experience in loan servicing and/or asset management, strong analytical, communication and organizational skills, and a proactive approach to problem-solving. This role requires meticulous attention to detail, an understanding of the lending industry and the ability to provide excellent customer service to our clients and investors. The candidate will be responsible for assisting with special servicing requests and monitoring the portfolio.

Summary of Essential Job Functions:

Perform a variety of Loan Servicing functions including:

• Act as the primary point of contact for borrowers, managing a portfolio of commercial mortgage loans and strengthening Ready Capital's servicing relationships.

• Oversee payment processing, escrow analysis, investor reporting, and ensure compliance with servicing agreements.
• Process borrower requests such as reserve draws, real estate tax payments and insurance disbursements.
• Prepare and distribute monthly mortgage statements to borrowers.
• Manage investor reporting and delinquency reporting for agency-held loans
• Administer daily loan portfolio activities, including resolving payment issues, monitoring compliance, and escalating non-compliance or defaults when necessary.
• Ensure adherence with all applicable loan documents and servicing agreements, while handling timely processing of loan-related matters and requests. Collaborate cross-functionally with accounting, originations, construction monitoring and asset management teams.
• Implement best-practice servicing policies and technology improvements to enhance efficiency.
• Provide timely and accurate reporting to internal and external stakeholders.
• Support audits, regulatory exams, and portfolio performance reviews.
• Assist with new loan file setups and onboarding processes.
• Monitor and update loan tracking reports regularly.

• Perform other duties as assigned

Qualifications:

The candidate should possess strong analytical and organizational skills as well as the ability to handle multiple projects at once. Solution focused and detail-oriented individual. Strong written and verbal communication skills are required with a firm command of Microsoft office. While the ideal candidate would have a grasp on multifamily loan servicing, someone who asks questions and learns quickly will also excel in this role.

Education and/or Experience:

• Bachelor's degree in business, Finance, Accounting, or related discipline preferred
• Minimum of 7 years of progressive experience in loan servicing, asset management, or loan operations within a bank, credit fund, or mortgage servicer

• Basic knowledge of real estate terminology
• Knowledge of commercial real estate finance, servicing operations and multifamily agency experience (Freddie Mac/Fanni Mae) is a plus
• FICS Mortgage Lending Software experience a plus

Physical Demands:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this Job, the employee is regularly required to sit; use hands to finger, handle, or feel and talk or hear. The employee is frequently required to stand and walk. The employee is occasionally required to reach with hands and arms; climb or balance and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception and ability to adjust focus.

Work Environment:

The work environmental characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions. The noise level in the work environment is moderately quiet. We thrive in an environment that encourages hard work while having fun!

Ready Capital (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans. We specialize in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York City, Ready Capital employs over 400 lending professionals nationwide.

Ready Capital offers a full range of benefits, including competitive salary, comprehensive health plans to choose from including dental, vision coverage, company-paid life & disability insurance policies, business casual dress and a great culture!

Actual salary at the time of hire may vary and will be based on various factors, including, but not limited to, the candidate's relevant qualifications, skills, and experience and the location where this position may be filled.

Ready Capital is an equal opportunity employer (EOE)!