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Senior Closing Officer - Fannie & Freddie

KeyBank Dallas Full-Time
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About the Job
Responsible for closing an assigned commercial real estate portfolio of deals consisting of mainly Fannie Mae and Freddie Mac, conventional multifamily. May have exposure to the CMBS and Life lines of business. Learn to manage independently all pre-closing, funding and delivery due diligence, including adhering to internal compliance procedures (OFAC, Patriot Act, etc.). Learn to review and adhere independently to each respective investor’s requirements, final credit approval terms, risk management aspects through closing and loan documentation standards according to internal closing procedures and controls; and adhering to all investor forms, documentation, closing and post-closing processes on assigned deals. Responsible for providing superior client service in proactively driving the closing process, engaging legal counsel, participating and communicating consistently with the deal team, following progress on the closing checklist, identifying items/conditions to be satisfied and the party responsible; through funding and all post-closing functions, meeting all required deadlines during the process.

Essential Job Functions
Responsible for providing superior client service while working to independently maintain risk management, compliance with bank policies and regulatory requirements, and adhering to internal procedures and controls. Provide assistance, and in learning the process provide closing expertise, to ensure ongoing communication in working closely with multiple parties (underwriting team, legal counsel, PPS, underwriter, asset manager, investor, borrower, borrower’s counsel, title and insurance agents and other lenders etc.) to achieve a well-coordinated and timely closing and sale to investor meeting all deadlines. Clearly and immediately communicates problems/issues with a closing or deal, and elevate appropriately; assist in resolving issues affecting client service and risk management
Responsible for working towards independently coordinating and conducting a review of all loan documentation, insurance, flood, title, survey, and other information for conformity to credit approval, credit policy, closing procedures, investor processes and commitment letter/term sheet; brings to management and Senior Closer attention any client-requested legal documentation changes with counsel and deal team for approval
Utilize CLOSER system for timely updates on deal status, and timely uploading and maintaining of closing file and all appropriate documents
Ensures all pre-closing conditions of approval are met and submits to Manager for approval
Recommends authorization of closings and funding of assigned portfolio to or Manager for approval, coordinates funding with Accounting and Servicing teams; verifies all fees and payments were appropriately funded
Proactively manages post-closing items and package to investor, and any uploading requirements of documents and exhibits meeting all deadlines
Assists with special projects to improve the quality of the closing and due diligence services provided to internal and external clients, including periodic update of procedures and guidelines
Some travel may be required on a periodic basis to closings and meetings

Required Qualifications
4-year College Degree or equivalent real estate business experience
Minimum 5 years’ experience closing a variety of commercial real estate loan products, including primarily Fannie Mae and Freddie Mac (Agency)
Demonstrated experience with closing process and real estate loan financing including commitment/loan structures, title/liens, insurance, loan documents, contracts, leases, AIA document, project budgets and other legal documentation and compliance with state/market legal requirements
Strong knowledge of multi-bank loan participations/syndications and secondary market standards
Demonstrated ability to negotiate and make decisions on non-standard loan structures, documentation, industry specific contracts, and title policy issues achieving balance between client service and risk mitigation
Strong solution-oriented and problem solving skills; detail-oriented
Strong aptitude for analysis, systems and mathematics
Strong written and verbal communication skills
Ability to drive multiple parties and processes in a high closing volume environment



FLSA STATUS:Exempt

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
 

Recommended skills

Underwriting
Real Estates
Leasing (Contract Law)
Loans
Liens
Insurance
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Job ID: 32749BR

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Headquartered in Cleveland, Ohio, KeyCorp (Key) is one of the nation’s largest financial services companies. Key provides investment management, retail and commercial banking, consumer finance and investment banking products to individuals and companies throughout the United States and, for certain businesses, internationally.

Our goal is to be the best regional bank in the U.S. What that means is we put our clients’ needs first and take a customized approach to meeting those needs. At Key we’ve made a promise to our clients that they will always have a champion in us. To deliver on that promise, we’re committed to building a team of engaged employees who do the right thing for our clients and help them achieve their financial goals each and every day.

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