Location: New York State (Hybrid Work Model)
Salary: $85,000 - $110,000 per year
About Us:
New York Life Real Estate Investors (NYL REI) is the real estate debt and equity investment division of NYL Investors LLC, a wholly owned subsidiary of New York Life Insurance Company. With over 100 years in business, we manage over $305 billion in assets, including $68 billion in real estate. Recognized as a top-tier commercial mortgage lender, our team consists of highly experienced real estate professionals focused on originating and managing various commercial real estate debt products.
Position Overview:
We are seeking a Real Estate Loan Closing Associate to join our Commercial Real Estate Loan Closing team. This hybrid position requires in-office attendance just one day per quarter in New York. In this role, you will collaborate with loan underwriters, borrowers, brokers, legal counsel, and third-party partners to ensure efficient transaction closures while adhering to all underwriting and closing requirements.
Key Responsibilities:
- Coordinate with loan originators to prepare and negotiate real estate loan application commitments, including mortgage, mezzanine, co-lending, portfolio, construction, and bridge structures.
- Manage the loan closing process, including:
- Reviewing and negotiating loan documents with legal counsel and business counterparts.
- Ensuring timely receipt and review of all due diligence items, such as property reports, title surveys, tenant leases, and insurance documentation.
- Oversee the disbursement of loan proceeds, including:
- Reviewing settlement statements and allocating funds.
- Processing payments for expenses related to the transaction.
- Utilize our transaction management system to ensure:
- Data quality management for each transaction.
- Obtaining necessary approvals prior to closing.
- Timely transfer of closed loans to the loan management division.
- Participate in special projects within the department and division.
Qualifications:
- Bachelor’s Degree in Finance, Real Estate, or a related field.
- Experience in commercial real estate financing, with a solid understanding of the loan closing process and relevant legal issues.
- Strong organizational and communication skills.
- Self-motivated with the ability to prioritize multiple assignments effectively.
- Proficient in Microsoft Office.
- Paralegal experience is highly preferred.
Compensation & Benefits:
- Salary Range: $85,000 - $110,000
- Overtime Eligible: Exempt
- Discretionary Bonus Eligible: Yes
Your actual base salary will depend on various factors, including your experience and qualifications. In addition to a competitive salary, employees may be eligible for annual discretionary bonuses and participation in incentive programs.
Benefits Package:
We offer a comprehensive benefits package tailored for a modern workforce, including:
- Leave programs
- Adoption assistance
- Student loan repayment programs
Diversity Commitment:
At New York Life, we believe in the power of a diverse workforce to foster financial security and success across communities. Diversity, equity, and inclusion are core principles guiding our culture.
Recognized as one of Fortune’s World’s Most Admired Companies, we are dedicated to improving local communities through employee giving and volunteerism. Explore career opportunities with us at New York Life Careers.
Job Requisition ID: 90769
To apply, please create an Indeed account and visit our company website.
