Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
We are seeking a Senior Closing Officer with a minimum 5-7 years of commercial GSE Loan 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.)
- 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 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.
- Communicate with and provide detailed guidance to other departments within Newmark with regard to complicated/out of the box transactions.
- Responsible for managing closing process with internal and external parties to ensure timely closing and sale to investors.
- Demonstrates strong experience with credit facility, non-standard transactions and all affordable products, including forward commitments, seniors, TEL and M.TEB transactions.
- Clearly and immediately communicate problems/issues with a closing or deal and elevate appropriately.
- Provide backup assistance to Closing Manager and the Delivery Team
- Assist with special projects to improve the process and experience of our clients and business partners.
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
- 5-7 years of commercial GSE closing experience
- Thoroughly familiar with escrow/real estate terminology and real estate documents
- 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.
Salary: $110,000 - $130,000 annually
The expected base salary for this position ranges from $110,000 to $130,000 annually. The actual base salary will be determined on an individualized basis taking into account a wide range of factors including, but not limited to, relevant skills, experience, education, and, where applicable, licenses or certifications held. In addition to base salary and a competitive benefits package, this position may be eligible for additional types of compensation including discretionary bonuses and other short- and long-term incentives (e.g., deferred cash, equity, etc.).
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 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.
