Job Description

JOB SUMMARY

Responsible for the closing of HUD/FHA multifamily loans. Leads with the decision making process and determines whether due diligence items satisfy lender requirements and the eventual buyer of the loan or security backed by the loan. Responsible for determining and ensuring that all requirements of loan funding, loan closing and delivery have been met prior to authorizing loan closing. Packages and delivers post loan funding purchase of the Company’s Ginnie Mae securities.

ESSENTIAL DUTIES AND RESPONSIBILITIES

Coordinates, establishes and distributes the Company's and HUD/FHA requirements for closing, funding and securitizing HUD/FHA loans to internal and external parties as appropriate. Ensures loans meet established requirements prior to loan funding.

Interfaces with internal and external parties, including loan originator, underwriter, mortgage broker, borrower, attorney, title company, security broker dealer, government employees, servicing and asset management personnel to review and approve due diligence items presented by the borrower and other parties.

Reviews and analyzes support documentation and due diligence items; has final approval authority for loan settlement statements and loan closing documents.

Coordinates loan closing document preparation with counsel; approves all documentation and due diligence items presented by the borrower and other parties for compliance with the requirements of the Company, HUD/FHA, and investor.

Approves and coordinates loan funding with the company’s warehouse lender and investor.

Prepares and/or approves pool and loan delivery packages and information to warehouse lender and investor and to internal departments including servicing, asset management, accounting, investor reporting departments.

Tracks progress of each loan in the closing phase and keeps Management Team and others informed of any delays or significant issues. May act as the Company's representative in the execution of loan documents.

Other duties as assigned.

SUPERVISORY RESPONSIBILITIES

Provides formal supervision to individual employees within single functional or operational area. Recommends staff recruitment, selection, promotion, advancement, corrective action and termination. Plans and monitors appropriate staffing levels and utilization of labor, including overtime. Prepares and delivers performance appraisal for staff. Mentors and coaches team members to further develop competencies. Leads by example and models behaviors that are consistent with the company's values.

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and EXPERIENCE

Bachelor’s degree from a four-year college or university and a minimum six years experience in loan underwriting, loan closing, asset management and/or loan servicing.

Working knowledge of the mortgage banking industry, with an emphasis on the loan closing and funding areas.

CERTIFICATES and/or LICENSES

Salesperson or Real Estate Brokers license preferred, but not required.

COMMUNICATION SKILLS

Excellent written and verbal communication skills. Strong organizational and analytical skills. Ability to provide efficient, timely, reliable and courteous service to customers.

FINANCIAL KNOWLEDGE

Requires advanced knowledge of financial terms and principles. Ability to calculate intermediate figures such as percentages, discounts, and commissions. Conducts advanced financial analysis.

REASONING ABILITY

Ability to comprehend, analyze, and interpret complex documents. Ability to solve problems involving several options in situations. Requires advanced analytical and quantitative skills.

OTHER SKILLS and ABILITIES

Proficient in common Microsoft Office Suite Products applications including: Word, PowerPoint and Excel.

Understanding of the mortgage banking industry, with an emphasis on the loan closing, loan funding, loan delivery, and asset management areas. Understanding and knowledge of basic negotiation skills.

Ability to work in a deadline driven and ever changing priorities environment while simultaneously managing and effectively prioritizing the workload.

SCOPE OF RESPONSIBILITY

Decisions made with thorough understanding of procedures, company policies, and business practices to achieve general results and deadlines. Responsible for setting work unit and/or project deadlines. Errors in judgment may cause short-term impact to department.

Equal Opportunity and Affirmative Action Employer Women/Minorities/Persons with Disabilities/US Veterans

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Loan Closing Manager

CBRE