Commercial Closer

Bayview Asset Management•New York, NY

13h•$125 - $160•Onsite

About The Position

POSITION 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.

Requirements

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
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
Must be a notary or willing to obtain notary status in New York no later than 3 months after start date

Responsibilities

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