Newmark Knight Frank (NKF) , operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading commercial real estate advisory firms. We provide a fully integrated platform of services to prominent multinational corporations and institutional investors across the globe, as well as to occupiers, owners and developers of real estate on a local, regional and national level.
Together with London-based partner Knight Frank and independently-owned offices, NKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
The Multifamily Capital Markets platform is the preeminent source of capital solutions for multifamily owners and operators. With a nationwide presence and unparalleled expertise, a 30+ year history and a servicing portfolio of $58 billion representing in excess of 3,400 loans in 49 states. A top five Fannie Mae and Freddie Mac Lender in 2017, the Multifamily Capital Markets Group offers a full complement of GSE, FHA, Life Company and Conduit products paired with extensive multifamily, affordable, student, seniors housing and healthcare expertise. This extensive and diverse national platform provides clients with superior execution in every market across the country. www.ngkf.com
We are seeking Closing Officers with a minimum 3-5 years of commercial GSE closing experience.
Essential Job Duties:
- Review and analyze closing due diligence items (i.e. organizational documents, management agreement, title commitment and title exceptions, laundry leases, commercial tenant leases, evidence of insurance, various third party reports, etc.)
- Request and review internal analysis of escrows to be collected through closing.
- Provide all closing due diligence items to outside counsel for review in a timely manner and work closely with them to ensure all rate lock and closing conditions are satisfactorily met in a timely manner.
- Review and evaluate borrower comments to loan documents with outside counsel, recommend appropriate responses through credit risk analysis based on professional experience, knowledge and outside counsel recommendations.
- Represent Newmark Knight Frank to outside parties including borrower, investor and counsel during loan document modification negotiations and/or conference calls.
- Reconcile all income and expenses to confirm the loan is balanced prior to any refund or credit to Borrower, or collection of additional funds from Borrower, as necessary, all prior to closing.
- Identify incoming funds for rate lock deposits and assist in the preparation of and sending of wires to investors, third party vendors, outside counsel, Title Company, borrower, etc.
- Review all Loan Commitments and provide comments to ensure accuracy and completeness related to specific terms and conditions of the loan structure.
- Review all legal and closing related rate lock documentation for accuracy and correctness of the terms outlined in the loan commitment.
- Responsible for managing the insurance review process. Work with Insurance Consultants and understand, review insurance against investor requirements. Responsible for shepherding the internal insurance waiver process.
- Assist in resolving any issues with Freddie Mac, Master Servicer or Fannie Mae with any errors found within any loan documents and work with counsel, as needed
- Communicate with and provide detailed guidance to other departments within Newmark Knight Frank with regard to complicated/out of the box transactions.
- Prepare all closing required tasks, to include wire requests and other internal forms as required by NKF
- Review title commitment and identify any issues that may impact the underwriting of the transaction.
- 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
- Assist, as needed, in resolving any pre-funding issues with Freddie Mac or any errors found within C&D or within any loan documents with Fannie Mae and work with counsel
- Coordinate with the title/escrow company, legal counsel and warehouse lender regarding wiring instructions, escrow instructions and requirements for closing the loan
- Prepare funding package and circulate to the required parties for review and execution and ultimate submission to the warehouse lender, in a timely manner
- Verify all closing conditions have been satisfied before authorizing the warehouse lender to fund
- Provide back-up assistance to Team Leader, if applicable, Closing Manager and Delivery Team
- Assist with special projects to improve the process and experience of our clients and business partners.
- Oversee an assistant that will help with many of the above items.
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
- 3-5 years of commercial GSE closing experience
- Thoroughly familiar with escrow/real estate terminology and real estate documents
- Ability to navigate through various types of loan structures, non-standard documentation and other potential risk associated with the transaction.
- 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
- Ability to travel a minimum of 10-20%
Benefits and Perks:
- Industry leading Parental Leave Policy (up to 16 weeks)
- Generous healthcare
- Bright Horizons back-up care program
- Generous paid time off
- Education reimbursement
- Referral Program
- Opportunities to network and connect
Benefits/perks listed may vary depending on the nature of your employment with Newmark Knight Frank and the job location.
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 Knight Frank 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.