Description
The Senior Agency Closing Officer will have a keen understanding of Agency requirements as it relates to closing loans, and a good understanding of crossover relationships between Originations, Underwriting, Closing, Servicing and Asset Management.
Responsibilities:
- Maintain close communication with customers, originators, third party vendors and underwriters to ensure proper and timely settlement.
- Guide deal team (Analyst and Coordinator) through transaction specific matters for timely and accurate completion.
- Advanced communication skills to express thoughts on complex matters to ensure an accurate understanding is received resulting in positive collaboration.
- Send clearly stated written requests or clear and concise verbal communications with customers, attorneys and other third parties to obtain additional information as needed.
- Independently comprehend and assess new information received regarding investor and underwriting guidelines, and able to offer input as to handling of such information, company policies, processing procedures, etc.
- Independently troubleshoot inconsistent information to ensure accurate information is utilized.
- Ability to independently analyze complex information in order to perform real estate tax and insurance escrow analysis for closing.
- Review title requirements for state specific mortgage attachments and /or state mortgage tax requirements.
- Collaborate closely with Underwriting and Legal to work through transaction specific issues and be able to independently think through and offer solutions when problems arise.
- Work with insurance analyst to ensure borrower obtains required insurance coverage (casualty,liability, flood, wind, etc.)
- Meticulous with work product review to spot incorrect information in work products.
- Gather and prepare information for completion of closing documents including 3rd party fees, payoffs and subordinations
- Verify underwriting and funding conditions are signed off prior to settlement.
- Confirm loan information in all Enterprise and GSE delivery systems/portals are accurate.
- Review and work with closing counsel in the preparation and delivery of closing documents.
- Review final settlement statement and Disbursement Ledger for accuracy and compliance, including the verification of seller and lender credits, funds on deposit, and payoff of debt (if applicable).
- Follow up with a closing/escrow agent to verify settlement of loan, disbursement of funds and advise of any problems or concerns.
- Meet established productivity levels and turnaround times as set by the Manager and be able to effectively communicate reasoning when expectations need to be revised.
- Sharp understanding of Agency requirements and Closing process to ensure a high level of Quality Control.
Basic Qualifications:
- At least 4 years Agency Commercial Mortgage loan closing experience
Preferred Qualifications:
- Bachelor’s degree or Military experience
- At least 5+ years of Agency Commercial Mortgage loan closing experience
- At least 5+ years of Affordable Multifamily Products closing experience
The minimum and maximum full-time annual salaries for this role are listed below, by location. Jericho, NY: $178,800 - $204,100 for Agency Loan Admin Supervisor II McLean, VA: $163,900 - $187,100 for Agency Loan Admin Supervisor II New York, NY: $178,800 - $204,100 for Agency Loan Admin Supervisor II