Senior Closing Officer REC Servicing in Chicago, IL at Key Bank- Corporate

Date Posted: 10/12/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Chicago, IL
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:
    10/12/2018

Job Description

About the Job
Responsible for closing an assigned portfolio of deals consisting of mainly FHA loans both healthcare and multifamily. Will 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 CMBS, Life and FHA
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
Strong planning and organizational skills
Familiarity with commercial loan accounting systems
PC proficiency including familiarity with Microsoft Excel, Word, and Outlook

ABOUT KEY:
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. KeyBank is Member FDIC.

ABOUT THE BUSINESS:
Key Corporate Bank is a full-service corporate and investment bank serving the needs of mid- to large- sized businesses and focusing principally on middle market clients in six industry sectors: consumer, energy, healthcare, industrial, public sector, and real estate.

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.

JobID: 30889BR

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