Sr. Associate, Closing at NEWMARK in Irvine, California

Job Description:

JOB DESCRIPTION



Essential Duties and Responsibilities



Closing:

• Review loan documents prior to closing to confirm they meet the terms of the loan that were approved at loan committee and the terms of the rate lock and confirm any modifications are consistent with what the Investor approved
• Prepare all closing required tasks, including wire requests and required internal forms
• Coordinate with title/escrow company, legal counsel and warehouse lender regarding wiring instructions, escrow instructions and requirements for closing the loan
• Assist Closing Officer with coordination of closing documentation including review of due diligence received
• Partner with underwriting to insure all closing and delivery documents are received in a timely manner
• Request and review internal analysis of escrows to be collected through closing
• Identify incoming funds for rate lock deposits and assist in the preparation sending of wires to investors, third party vendors, outside counsel, title company, borrower, etc.
• Manage insurance review and internal insurance waiver processes
  • Partner with Insurance Consultants to understand and review insurance against investor requirements
  
  
• Serve as back-up to Closing Assistant for generating final reports and save to the Servicing folder

RESPONSIBILITIES



Post-Closing/Delivery

• Prepare and finalize all delivery packages for review by Closing Officer and Closing Manager
• Assist in the preparation of final funding package and circulate to the required parties for review, execution, and ultimate submission to the warehouse lender in a timely manner
• Review Final Deliveries and Ship to Investor
  • Review loan documents to ensure all required exhibits and schedules are attached, all documents are executed and initialed where required and all pages are included
  • Prepare delivery package review certification, sign and save to file
  • Ensure counsel meets the Mandatory Delivery Deadline
  • Prepare and send Delivery Instruction Letter to Warehouse Lender
  
  
• Prepare and circulate for internal approval all DVP/Schedule I/Prospectus delivery
• Coordinate w/ MBS Investor the delivery of the DVP and Prospectus delivery
• Ensure the Investor delivery documents (waivers, list of escrows O&M Certifications and Mortgage Loan Certificates) are sent to counsel for inclusion in delivery package for Fannie Mae and Freddie Mac deals
• Resolve Pre-funding issues with Freddie Mac or Pre-settlement issues for Fannie Mae and save all audit letters or emails to the Transaction folder
• Save a copy of all documents delivered to Investor within the Loan Docs folder
• Assist in resolving issues with Freddie Mac, Master Servicer or Fannie Mae relating to errors found within loan documents
• Manage issue resolution with outside counsel, as needed

Administrative

• Provide daily administrative support to Closing Officers including faxing, scanning, email correspondence, and package preparation
• On and off-site document management and file retention
• Recorded Documents Tracking and Reporting (monthly)
• Provide back-up assistance to Team Leader, Closing Manager, and Delivery Team
• Respond to requests from Originations, Underwriting, Asset Management, and Servicing

Core Competencies

• Thoroughly familiar with escrow/real estate terminology and basic real estate documents
• Highly developed analytical, research and written/verbal communication skills
• Ability to solve problems and exercise independent judgment, while displaying a high degree of initiative and accuracy
• Demonstrate ability to organize and prioritize projects; complete multiple tasks on schedule
• Ability to work productively under minimal supervision
• Must be proficient in Microsoft Office
• Strong work ethic and pro-active team player, able to work effectively under sometimes stressful conditions

Qualifications

• High School Diploma or equivalent
• Successful completion of Real Estate Finance and Escrow I course or equivalent
• 3-5 years of commercial GSE closing experience or College Degree
• Ability to travel a minimum of 10%

QUALIFICATIONS



Skills, Education and Experience:

• High School diploma or equivalent
• B.A. /B.S. degree preferred
• Successful completion of Real Estate Finance and Escrow I course or equivalent
• 5-7 years of commercial GSE closing experience
• Thoroughly familiar with escrow/real estate terminology and real estate documents
• Highly developed analytical, research and written/verbal communication skills
• Ability to problem-solve and exercise independent judgment while displaying a high degree of initiative and accuracy.
• Demonstrate ability to organize and prioritize projects; complete multiple tasks on schedule.
• Ability to work productively under minimal supervision.
• Must be proficient in Microsoft Office.
• Strong work ethic and pro-active team player, able to work effectively under sometimes stressful conditions.

Salary: $110,000 - $130,000 annually


The expected base salary for this position ranges from $110,000 to $130,000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).



Working Conditions: Normal working conditions with the absence of disagreeable elements

Note: The statements herein are intended to describe the general nature and level of work being performed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.

Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law. Apply Now