OverviewPOSITION SUMMARY: The Associate Closer will be responsible for assisting the Head of Commercial Closing and the Commercial Closing Team with (i) managing the commercial real estate finance transaction closing process from commencement of the application process, closing of the transaction, asset management and financing of the transaction to the final disposition of the loan and/or collateral securing the loan, in addition to all tasks associated with or ancillary to these processes, and (ii) facilitating administrative and operational tasks in connection with general operations of the large balance commercial real estate group, including but not limited to the vendor management process, the cash management and deposit account bank processes and processes and procedures related to the servicing of the transactions.
Essential DUTIES AND RESPONSIBILITIES: - Assist Head of Commercial Closing and the Commercial Closing Team with the following tasks:
- Negotiation and drafting of Non-Disclosure Agreements for brokers and clients
- Post-closing repurchase financing process including coordination of delivery of all due diligence materials to the repurchase lender and their corresponding outside counsel, as well as obtaining custodial receipts
- Oversight of the lease review process with the outside vendor, underwriting team and outside counsel employing quality control procedures for review of all major leases
- Performing of the initial internal review of leases as necessitated
- Closing day funding process including coordination with internal finance and treasury teams
- Post-closing securitization process including management of delivery of all due diligence to loan sellers' counsel and issuer team, as well as coordination of payment of third party brokers in connection with securitization
- Post-closing asset management including harmonization with the large balance commercial asset management team and the affiliated Silver Hill Loan Servicing Team
- Loan portfolio bidding and closing processes
- Tracking of payments to outside counsel and circulation of analogous tracking spreadsheet to general counsel's office
- Management of final cloud-based legal and underwriting asset files for all loans
- Administering of the vendor on-boarding process including coordination with in-house counsel and vendor management teams
- Updating proprietary pipeline management and underwriting systems in connection with loan transaction management
- Coordinate confirmation of receipt of good faith deposits from clients
- Aid outside counsel and Head of Commercial Closing with completion of the cash management process on loans including on-boarding and coordination with deposit account and cash management bank
- Administer insurance review including engagement of third party insurance consultant and coordination with borrower's insurance broker
- Oversee the KYC process in conjunction with the underwriting team and outside counsel including assisting clients with properly completing credit certifications for all applicable individuals and entities in the borrowing structure
- Prepare closing statements in coordination with the underwriting team, borrower, title company and outside counsel including completing internal Excel spreadsheet, calculating reserves, and tracking of all invoices to be paid at closing
- Synchronize the release of third party reports to brokers and clients in connection with "dead" and closed transactions
SKILLS/KNOWLEDGE/ABILITIES: - Advanced knowledge of the details of the commercial real estate lending closing process, including intimate involvement with outside counsel, borrowers, loan underwriters and originators to close commercial real estate loans
- Demonstrated proficiency of the Microsoft Office Suite, specifically, mastery of Microsoft Excel including the ability to build basic formulas used in commercial real estate lending
- Excellent written and verbal communication skills
- Detail oriented, organized and self-motivated with the ability to meet multiple time sensitive deadlines
- Willingness and proven ability to learn new processes and procedures quickly and under pressure
- Ability to solve problems independently if necessary while keeping key team members simultaneously updated
EDUCATION and EXPERIENCE: - Associate's Degree or Bachelor's Degree
- Minimum of 3-7 years of experience working for a lender, law firm, title company or commercial real estate brokerage firm in a capacity related to the commercial real estate closing process
Certifications, Licenses, and/or Registration: - Must be a notary or willing to obtain notary status in New York no later than 3 months after start date
Compensation and location:- This is an onsite role and will be based in Bayview's New York, NY office.
- Base compensation is expected to be $125-160k with the opportunity for performance-based bonus.
