Commercial Real Estate Collateral Specialist

Opportunity for Commercial Real Estate Appraisal Review with a Growing and Dynamic Bank!

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Job Description

ONLY TWIN CITIES AND FARGO CANDIDATES WILL BE CONSIDERED.

This position works in conjunction with the bank’s Commercial Real Estate Administration Manager and the Collateral Real Estate Specialist team on commercial loan real estate appraisals and evaluations, real estate title review, and environmental due diligence to ensure the processes are consistent with safe and sound banking practices and government regulations.



Roles and Responsibilities:

  • Maintain the Bank’s approved appraiser list. Make recommendations for the addition or deletion of appraisers. Participate in the Appraisal Committee Meetings.
  • Order the appropriate level of appraisal reports while minimizing cost to maintain competitiveness.
  • Select and engage appraisers for loan transactions and ensure appraisals are received in a timely manner.
  • Act as a liaison between relationship managers and appraisers.
  • Consult with appraisers on issues relating to the request for information to include legal description, plat maps, sketches, building plans, purchase agreements, and financial information.
  • Review appraisals to ensure compliance with regulation and Bank policy. Ensure recommended corrections are completed within the specified timeframes.
  • Consult with appraisers on any corrective/disciplinary action.
  • For real estate loan transactions that do not require a certified appraisal, complete and document a valuation supported by market data.
  • Review environmental reports on properties flagged as elevated risks or have environmental concerns. Make recommendations for further due diligence or corrective action.
  • Consult with relationship managers on all appraisal issues. Recommend appropriate action on types and levels of appraisal and environmental reports.
  • Educate relationship managers on appraisal issues and any change in regulations.
  • Make real estate field inspections.
  • Order and review other collateral appraisals (i.e., equipment, etc.).
  • Review title insurance policies to ensure the policy includes the Bank’s applicable standard endorsements and includes any specialty endorsements that may have been requested. Ensure that the Bank’s lien position is properly secured / perfected.
  • Work with the title insurance company, borrower, and relationship manager to resolve any issues related to the title of the property.
  • Commit required real estate related documents to the Bank’s imaging system.
  • Review ALTA Surveys that are required for the existence of any encroachments, location of easements or other restrictions, and the physical size and boundaries of the properties to determine if there are any issues that may adversely affect the Bank’s collateral.
  • Work with the title insurance company on survey requirements as well as on any issues that may affect the Bank’s collateral. Also work with the title insurance company regarding the deletion of the survey exception and the issuance of the survey endorsement to the title insurance policy, if applicable.
  • Maintain the Bank’s list of preferred title insurance companies, land surveyors, and inspecting architects.
  • Maintain the Bank’s data base on appraisals for various types of properties and input the appraisal information into Credit Quest.
  • All employees are responsible for information security including compliance with policies and standards which protect sensitive information.
  • Perform other duties as assigned.


Required Skills and Experience:

  • B.A. in business administration, or equivalent combination of education and experience, that gives an understanding of work procedures, job standards, and the job knowledge that may be required.
  • Four or more years of credit, lending, examining, or appraisal experience.
  • Familiarity with standard concepts, practices, and procedures with appraisals, mortgage companies, environmental due diligence, and financial institutions.
  • Proven ability to multitask and perform a variety of tasks, including speaking to appraisers, title companies, or loan officers and managing any deficiencies.
  • Excellent written and communication skills.
  • Proficiency with computer technology.
  • Effective time management and organizational skills.



About Versique

Versique is one of the largest recruiting firms in the Midwest and specializes in both consulting and permanent placement. With a valuable blend of functional, industry and recruiting experience, our award-winning team of headhunters has a proven track record of delivering exceptional talent acquisition solutions. The Versique brand represents a powerful combination of “versatile” and “unique” as it hints at the concept of “search” in it’s pronunciation: ver-seek.

 

Versique is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability, or veteran status, among other factors.

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