Agency Real Estate Closer

The Citi Community Capital (CCC) Business within Citi’s Global Spread Products (“GSP”) Municipal Finance Division, is seeking to hire a new Agency Real Estate Closing professional. As a member of the CCC Transaction Management team, the Real Estate Closer will play an integral part in ensuring the complete and timely closing of Agency loans from end to end. Once a loan is under application, the Agency Real Estate Closer will work with the Production and Underwriting teams, interface directly with the project Sponsor, third party vendors, and outside counsel to ensure the loan is properly approved and all items on the closing checklist are completed. You will be the primary person to ensure the loan will be ready to close on the assigned date, and will organize deal team meetings to discuss timelines, flow of funds and partners on the deal.

Citi Community Capital (CCC) provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire affordable multifamily housing across the country. Committed to the communities we serve, CCC finances both straightforward and highly structured transactions for non-profit and for-profit affordable housing developers, Community Development Financial Institutions, and state and local government agencies.

It is the mission of CCC to be the preferred financial partner for affordable housing developers, non-profits and governmental entities that focus on community development. We provide our clients with a distinctive, remarkable experience based on world class responsiveness, customer service, creativity and superior execution. This mission will be accomplished while delivering superior financial performance for Citi, consistent and impactful CRA results, and an inclusive and rewarding experience for our employees.

Job responsibilities:

• Work with loan originators, underwriters, analysts, and borrowers to obtain documents required to underwrite and thereafter close Multifamily housing real estate loans.
• Perform cursory review of title, survey, organizational documents, loan documents, insurance certificates, and other project level due diligence to ensure conformance with internal requirements and credit approvals. Track deposits and expenses for each deal.
• Track progress by updating established due diligence checklists on a weekly basis – working with borrowers to collect all required documentation
• Address borrower inquiries and have proper judgment experience to know when issues should be elevated
• Prepare loan boarding input documents for loan servicer and transmit completed files to internal and external loan file custodian
• Must have current working knowledge of loan products (Freddie/ Fannie) and knowledge of procedures, processes, and documentation.
• Work closely with the project sponsor/borrower and deal team members from Underwriting, Construction Risk, and other teams throughout the closing and approval process.
• Work closely with outside counsel to prepare and review all loan closing documents
• Must have the ability to comprehend and interpret the credit memo and underwriting analysis to appropriately communicate issues to all pertinent parties and ensure all closing conditions are satisfied prior to closing
• Review deal summary and legal documents to ensure the risk profile and deal structure are captured across all systems to allow for accurate financial and business reporting.
• Prepare closing settlement statement, review closing costs, coordinate with Operations to set up funding, and complete delivery package for post-closing servicing.

Required Skills:

• Familiarity with Freddie Mac Systems
• Candidate is required to have a BA/BS. A minimum of 2-3 years’ experience in real estate industry/loan administration or equivalent role is preferred. Previous closing experience with affordable multifamily deals preferred.
• Individual must have excellent communication, organizational and interpersonal skills, and an ability to work effectively under tight deadlines.
• The candidate must be detailed and quality assurance oriented; capable of working multiple initiatives simultaneously; and work collaboratively across teams within the Bank
• Energetic individual who shows initiatives, is a team player, and has a positive attitude to change.
• Ease with learning new systems/applications required. Demonstrates good excel skills, Quick learner and ability to work with minimal direct supervision.
• Highly-effective influencing skills; the ability to be coordinate internal meetings with several parties (Underwriting, Legal, Compliance, Risk, etc.) to gather information and meet conditions
• Knowledge of commercial real estate legal documentation is a plus

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

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Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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Effective November 1, 2021, Citi requires that all successful applicants for positions located in the United States or Puerto Rico be fully vaccinated against COVID-19 as a condition of employment and provide proof of such vaccination prior to commencement of employment.