Senior Associate, Commercial Closing

Bayview Fund Management, LLC; New York (NY); On-site; USD 90,000 - 140,000; Full time

Job summary

Bayview Fund Management, LLC is seeking an Associate Closing to support the Head of Commercial Closing and team in managing CRE financing closings from application through disposition, including asset management and financing steps. The role also covers admin tasks in vendor management, cash management and servicing processes.

You will coordinate NDA drafting, lease reviews, due diligence delivery, securitization support, and post-closing administration with internal and external counsel,

Responsibilities

• Negotiation and drafting of NDAs for brokers and clients
• Post-closing repurchase financing: coordinate due diligence delivery and custodial receipts
• Lease review oversight with vendor, underwriting team and outside counsel
• Perform initial internal lease reviews as needed
• Close-day funding: coordinate with finance and treasury
• Post-closing securitization: manage due diligence delivery and broker payments
• Post-closing asset management with large balance team and Silver Hill Servicing
• Loan portfolio bidding and closing processes
• Track payments to outside counsel; circulate progress spreadsheets
• Manage final cloud-based legal and underwriting asset files
• Administer vendor onboarding with in-house counsel
• Update pipeline and underwriting systems for loan management
• Confirm receipt of good-faith deposits from clients
• Assist cash management onboarding with deposits
• Oversee insurance review with insurer and broker
• Oversee KYC process with underwriting and counsel
• Prepare closing statements; coordinate with borrowers and title
• Synchronize third-party reports with brokers for dead/closed transactions

Skills

Negotiation

Due diligence

Contract drafting

Lease review

Vendor management

Job description

Overview

POSITION SUMMARY:

The AssociateCloser will be responsible for assisting the Head of Commercial Closingand the Commercial Closing Teamwith(i)managing the commercial real estatefinancetransaction closingprocessfrom commencement of the application process, closingofthe transaction, asset management and financing of the transactionto the final disposition of theloan and/or collateral securing the loan,in addition to all tasks associated with or ancillary tothese processes, and (ii) facilitating administrative and operational tasks in connection with general operations of the large balance commercial real estate group, including but not limited to the vendor management process, the cash management and deposit account bank processes and processes and procedures related to the servicing of the transactions.

EssentialDUTIES AND RESPONSIBILITIES:

• Assist Head of Commercial Closingand the Commercial Closing Teamwiththe following tasks:
  • Negotiation and drafting of Non-Disclosure Agreementsforbrokers and clients
  • Post-closingrepurchasefinancing process including coordination of delivery of alldue diligence materials to the repurchaselender and theircorresponding outside counsel, as well as obtaining custodial receipts
  • Oversight of thelease review process withtheoutside vendor, underwriting team and outside counselemployingquality control procedures for review of all major leases
  • Performing of theinitialinternal review of leases as necessitated
  • Closing day funding process including coordination with internal finance and treasury teams
  • Post-closing securitization process including management of delivery of all due diligence to loan sellers' counsel and issuer team, as well as coordination of payment of third partybrokers in connection with securitization
  • Post-closing asset managementincludingharmonizationwiththe large balance commercial asset management team and the affiliated Silver HillLoan Servicing Team
  • Loan portfoliobidding and closing processes
  • Tracking of payments to outside counsel and circulation of analogoustracking spreadsheet to general counsel's office
  • Managementof final cloud-based legal and underwritingasset files for all loans
  • Administering of thevendor on-boarding process including coordination with in-house counsel and vendor management teams
  • Updating proprietarypipeline management and underwritingsystemsin connection with loan transaction management
• Coordinate confirmation of receipt of good faith deposits from clients
• Aid outside counsel and Head of Commercial Closing with completion of the cash management process on loans including on-boarding and coordination with deposit account and cash management bank
• Administer insurance reviewincluding engagement of third party insurance consultant and coordination with borrower's insurance broker
• Oversee theKYC processin conjunctionwiththeunderwriting team and outside counsel including assisting clients with properly completing credit certifications for all applicable individuals and entities in theborrowing structure
• Prepareclosing statements in coordination withtheunderwriting team, borrower, titlecompanyand outside counselincluding completing internal Excel spreadsheet, calculating reserves, and tracking of all invoices to be paid at closing
• Synchronize the lease of third party reports to brokers and clients in connection with "dead" and closed transactions

SKILLS/KNOWLEDGE/ABILITIES: