Multifamily Closer

Minnesota Housing; Saint Paul (MN); Hybrid; USD 60,000 - 88,000; Full time

Benefits offered by this job

Health insurance

Paid vacation & sick leave

Public Service Loan Forgiveness

Pension plan

Job summary

Minnesota Housing is hiring a Multifamily Closer to join the closing team and make an immediate impact with developers funded for acquisition, rehab, or new construction of multifamily properties.

You will work on loan servicing activities and coordinate transactions with borrowers, attorneys, and title companies, ensuring accurate and timely closings while maintaining high service levels.

Qualifications

• Two years of experience closing multifamily loans or as a real estate paralegal.
• Bachelor’s degree may substitute for 12 months of experience or an Associate’s for 6 months.
• Experience with funding involving multiple sources and complex deals.
• Knowledge of multifamily financing structures and funding sources.
• Strong attention to detail and problem-solving skills.

Responsibilities

• Determine appropriate legal documents for each transaction.
• Address inquiries from borrowers, attorneys, lenders, and title insurers.
• Effectively resolve complex financial and program concerns.
• Draft legal documents and modify terms reflecting project transactions.
• Coordinate closing events with external customers and internal staff.
• Review closing due diligence documentation (surveys, title insurance, org docs, zoning).
• Perform other duties as assigned.

Skills

Closing multifamily loans

Real estate paralegal

Strong communication

Attention to detail

Client coordination

Education

Bachelor’s degree in Business/Paralegal/Finance

Paralegal certificate

Job description

• Salary Range:$28.75 - $42.16 / Hourly - $60,030 - $88,030 / Yearly

Telework is available per the State of Minnesota policy.

• Candidates residing in Minnesota within 50 miles of our St Paul office may be eligible to telework up to 50%.
• Candidates residing in Minnesota and more than 50 miles from our office may be eligible to telework more than 50%.
• Candidates residing in Wisconsin within50 miles of our office may be eligible to telework up to 50%.
• Candidates who do not reside in Minnesota or within 50 miles of the office in Wisconsin are not eligible to be hired, unless planning to relocate within 50 miles of the office.

The work you’ll do is more than just a job.

At the State of Minnesota, employees play a critical role in developing policies, providing essential services, and working to improve the well—being and quality of life for all Minnesotans. The State of Minnesota is committed to equity and inclusion, and invests in employees by providing benefits, support resources, and training and development opportunities.

Minnesota Housing is hiring! We’re a mission-focused financial institution looking for a Multifamily Closer who will have the opportunity to be a part of the closing team and make a difference immediately by working with developers who have received an award of funds from Minnesota Housing for purposes of acquiring, rehabbing or constructing multifamily rental properties, and working on loan servicing activities.

• Determines appropriate legal documents for each individual transaction.
• Address inquiries from borrowers, attorneys, lenders, and title insurance companies regarding legal policies and concerns of the Agency.
• Effectively resolve complex financial and program concerns to satisfaction.
• Draft legal documents and modify to reflect terms and conditions of project transaction; determine legal deficiencies in loan documents.
• Coordinate closing events with external customers and internal staff for successful and efficient completion of transactions.
• Review and provide comment and resolution on Agency-required closing due diligence documentation (i.e. surveys, title insurance, organizational documents and zoning requirements).
• Perform other duties as assigned.

Minimum Qualifications

To be qualified for and considered for this position, applicants must meet all of the minimum qualifications listed below. Ensure that your resume contains descriptions of your work experiences sufficient for comparison against the requirements stated below and indicate the beginning and ending month and year for each job held. Only applicants whose resumes clearly demonstrate fulfillment of each of these minimum qualifications will be considered for this position.

• Two (2) years of demonstrated experience in closing multifamily affordable housing loans or as a real estate paralegal (including foreclosure, loan servicing or other real estate related paralegal experience)
• A Bachelor’s degree in Business Administration, Paralegal, Finance, Accounting, Real Estate, Public Policy/Urban planning or Community Development/Planning may substitute for 12 months of experience – or – an Associate’s degree in the listed fields may substitute for 6 months of experience

*For this role, single family closing experience or mortgage banking experience will not be accepted

• Experience with funding that involves multiple financing sources and complex financial deal structures
• Knowledge of multifamily financing structures and funding sources (such as governmental or bank financing, bond financing and Low-Income Housing Tax Credits)
• Experience negotiating legal agreements with developers and funding partners.
• Strong attention to detail and problem-solving skills.
• Ability to master details of multiple projects, while managing multiple projects strategically.
• Strong communication and customer service skills with a motivation to maintain customer satisfaction and to contribute to the success of Minnesota Housing Finance Agency.

Preferred Qualifications

• Three (3) years of demonstrated experience in closing multifamily affordable housing loans or as a real estate paralegal (including foreclosure, loan servicing or other real estate related paralegal experience)
• Paralegal Certificate/degree
• Our employees are dedicated to ensuring cultural responsiveness. Preferred candidates will have a variety of experiences working effectively with others from different backgrounds and cultures.

Additional Requirements

This position requires successful completion of the following:

• Reference Checks.
• Job related background checks.
• Conflict of Interest Disclosure.

Physical Requirements

Requires moving office items such as file folders and small office tools.

A certain amount of walking and standing is often necessary in carrying out job duties.

Contact

If you have questions about the position, contact us at: [e-mail].

About Housing Finance Agency

At Minnesota Housing, we know that affordable housing is an essential part of Minnesota’s infrastructure. When you work here, you’re helping to build stronger communities. We have a national reputation as one of the finest housing finance agencies in the country.

Working together to improve the state we love.

What do Minnesota’s State employees have in common?

• A sense of purpose in their work.
• Connection with their coworkers and communities.
• Opportunities for personal and professional growth.

As an employee, you’ll have access to one of the most affordable health insurance plans in Minnesota, along with other benefits to help you and your family be well.

Your benefits may include:

• Paid vacation and sick leave.
• 12 paid holidays each year.
• Low-cost medical, dental, vision, and prescription drug plans
• Fertility care, including IVF.
• Diabetes care.
• Dental and orthodontic care for adults and children.
• 6 weeks paid leave for parents of newborn or newly adopted children.
• Pension plan that provides income when you retire(after working at least three years).
• Employer paid life insurance to provide support for your family in the event of death.
• Short and long-term disability insurance that can provide income if you are unable to work due to illness or injury.
• Tax-free expense accounts for health, dental, and dependent care.
• Resources that provide support and promote physical, emotional, social, and financial well-being.

Support to help you reach your career goals:

• Training, classes, and professional development.
• Tuition Assistance Program
• Federal Public Service Loan Forgiveness Program(Some positions may qualify for the Public Service Loan Forgiveness Program. For more information, visit the Federal Student Aid website studentaid.gov).

Employee Assistance Program(EAP) for work/life support:

• A voluntary confidential program that helps employees and their families with life challenges that may impact overall health, personal well-being, or job performance.
• Common sources of stress can be addressed through the EAP: mental health, relationship challenges (personal and work),grief and loss, finances, and legal issues.
• Daily Living/Convenience Services: Chore services, home repair, trip planning, child/elder care.

Programs, resources, and benefits eligibility varies

based on type of employment, agency, funding availability, union/collective bargaining agreement, location, and length of service with the State of Minnesota.

APPLICANTS WITH DISABILITIES

Minnesota state agencies make reasonable accommodations to their employees and applicants with disabilities. If you have a disability and need assistance in searching or applying for jobs with the State of Minnesota, call the job information line at 651-259-3637 or email [e-mail], and let us know the support you need.