Senior Closing Officer (Multifamily) – Los Angeles
Our client is a well-established commercial real estate firm that spans the US. They are currently seeking an experienced CRE Closing Officer or Real Estate Paralegal to join their team in Los Angeles.
Some requirements are as follows:
- 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.
Some responsibilities include:
- 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.)
- 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 closing.
- Review Loan Commitments and provide comments to ensure accuracy and completeness related to specific terms and conditions of the loan structure.
- 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.