What are the responsibilities and job description for the Closing Specialist - Commercial Real Estate Finance position at NorthMarq Capital?
Closing Specialist - Commercial Real Estate Finance
Northmarq Washington DC - (Fannie Mae/FHA Platform)
NORTHMARQ - WHERE THE BEST COME TO THRIVE
Northmarq is entering a new era, and a landmark career opportunity is waiting for you. Northmarq is independent, and fiercely so, with the freedom to do things the right way. To hire the very best. To give them the resources to thrive. We do it because that’s what we believe. Northmarq is not held back by principles, we’re propelled by them. We and our clients are growing fast because we’re providing something rare and valuable: easy access to the industry’s best talent, an agile and collaborative style, and vast resources to execute flawless deals for our clients and partners. Northmarq was voted by Real Estate Forum as one of The Best Places To Work In Real Estate!
The Closing Specialist’s primary function is to assist the Closing Officer in guiding the FHA or Fannie Mae transaction from rate lock thru loan closing and securitization. This position is a great opportunity for someone who is interested in starting their career in the Commercial Real Estate Finance industry with a company that supports your career growth and career development.
Position Responsibilities:
New Loan Set-up:
- Receive notification of signed Fannie Mae Application and Application Deposit. Notify appropriate parties
- Setup Fannie Mae loan files for new loan
- Open and maintain Fannie Mae/FHA Closing related entries in each transaction’s accounting worksheets
- Participate in Fannie Mae/FHA kick-off calls
- Forward deal-related due diligence to outside counsel for FHA transactions
Pre-Closing:
- Participate in weekly pipeline meetings
- Engage Servicing team to review FHA insurance policies, real estate taxes and prepare escrow analysis
- Review draft FHA/Fannie Mae loan documents against source data for accuracy
- Complete OFAC checks
- Prepare FHA wire requests and update transactional accounting worksheets
- Proactively obtain loan document signature pages from outside counsel.
Post-Closing:
- Complete servicing handoff spreadsheet and “transfer” loan to servicing
- Follow up on post-closing documents to ensure that recorded and/or final documents have been forwarded to correct individuals (counsel, warehouse, title, document custodian)
- Forward copies of final, recorded loan documents to the Borrower
- Upon receipt of final recorded UCC’s, forward to NM servicing. Update UCC tracking sheet.
Position Qualifications:
- Associate degree or relatable working experience and/or training. New Grads welcome to apply.
- Working knowledge of all Microsoft Office software, particularly in Excel and Word.
- Demonstrated ability to prioritize and meet deadlines
- Effective written and verbal communication
- Effective customer service skills
- Strong organizational skills and problem-solving skills
- Ability to work independently and within a team, with minimal supervision
- Attention to detail and accuracy required
- Ability to maintain sensitive and confidential information
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