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Location

Bangalore | India

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Job description

Department Overview
Payoff team prepares the payoff demand statement when the Borrower is willing to pay off the loan either at post maturity date or prepayment or at maturity date. We are responsible for ensuring that borrowers do not prepay the loan in violation of the mortgage loan documents. If the loan documents do permit prepayment, or if the loan is maturing, the servicer will provide the borrower with a payoff quote and process the payoff. The process is very critical and complex, since it requires a detailed interpretation, reviewing the unique legal documents and calculating multiple amounts as per the terms in the loan documents. Team should diligently coordinate with Borrowers, Asset Managers, Onshore Approvers and internal stake holders for each loan payoff request.

About the Role
Prepares, verifies and approves written payoff quotes/statements for commercial mortgage loans to authorized third parties, borrowers and other departments in a timely manner. Responsible for interpreting, analyzing, reviewing and extracting payoff related information from loan documents. Processes, solves and answers complex loan language issues, problems or inquiries. Shall work on high complex commercial loans, modified loans, LIBOR / SOFR loan payoffs and Yield Maintenance prepayment penalties.

Responsibilities

• Review the Loan Agreement and prepare payoff demand statement as per the terms and conditions of the loan agreement /closing documents.
• Ability to accurately process high volumes of work within established deadlines
• Flexibility towards work on different processes/assignments and for long hours as per business need
• Working with teams and be an active participant
• Understanding and meeting SLAs of the process
• Should take accountability for functions and processes
• Ability to work independently on complex loans
• Interact with onshore partners and all stake holders in CMS
• Should possess excellent verbal, written, and interpersonal communication skills.
• Have advanced Microsoft Office skills.
• Should understand the error patterns, work on approvals/disbursements.
• Identify controls and mitigate ops loss or near miss scenarios in the process.

Essential Qualifications

• University degree in Business or related discipline
• Strong analytical, problem solving, and document interpretation skills
• Good English Oral and written communication skills
• Intermediate knowledge of MS-Office
• Knowledge in Commercial Mortgage Servicing

Posting End Date:

13 Mar 2024

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Job tags

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Salary