Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues in excess of $2.9 billion for the year ended December 31, 2021. Newmark's company-owned offices, together with its business partners, operate from approximately 160 offices with over 6,200 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
Newmark's Multifamily Capital Markets team offers a fully integrated global investment sales and lending platform. From marketing the sale of single assets and portfolios to structuring complex debt solutions to providing life-of-loan servicing and asset management, we offer comprehensive services tailored to our clients' unique needs. With over $37 billion in multifamily transaction volume annually, our Multifamily team collaborates with clients to craft and execute targeted strategies, effectively optimizing the capital structure, increasing efficiency, and maximizing value. The Investment Sales team is recognized nationwide for its expertise, providing asset-specific customization that yields highly effective transaction strategies. Tapping into our proprietary database, each advisor has real-time access to unique market intelligence, driving demand and matching each client's assets to a diverse group of investors, from private and institutional owners to global investors. Investment Sales advisors work closely with the Debt & Structured Finance team on loan origination, underwriting, closing, life-of-loan servicing, and asset management. This experienced team provides clients with innovative and comprehensive solutions by accessing a full suite of debt products, including Fannie Mae, Freddie Mac, FHA, Bridge, Life Company, Bank and CMBS products.
We are seeking a Senior Insurance Associate who is motivated, detail-oriented, and experienced in multifamily loan closing. The Senior Insurance Associate manages the analytical review function for our Government Sponsored portfolios in accordance with departmental policy, procedures, and agency guidelines.
Essential Duties and Responsibilities:
Facilitate borrower compliance with lender/investor insurance requirements on a rotating portfolio of approximately 15-20 pre-close loans, resolving issues or coverage discrepancies prior to loan closing.
Work with insurance agents, brokers, borrowers, as well as internal closing team to gather required insurance documents necessary for full compliance review.
Routinely Interpret various third-party reports relating to the property condition, property characteristics, property exposures such as Appraisals, Zoning reports, Seismic Studies, Phase I/II, Physical Needs Assessments, Flood determinations, Catastrophic Event Modeling, insurance certificates and full insurance policies.
Prepare thorough an accurate insurance compliance assessment, documenting and uploading complete review in accordance with investor/lender requirements.
Write Up and submission of insurance waivers / exceptions with supporting documentation for non-compliant insurance issues.
Verify and enter insurance data into the Freddie Mac or Fannie Mae insurance compliance tool.
Create and present detailed written analysis for exceptions/waivers to management when compliance is not able to be met, this also includes blanket exposure concentration analysis.
Deliver high level of personal attention to each transaction, responding timely to internal and external customer communications.
Meet annual training obligations to remain educated on insurance provisions, industry, regulations, and pertinent legislation.
Initiates and participates in system enhancement design and testing, as well as providing feedback on policy and procedure updates.
Assist with special projects, audits, and additional duties within the Insurance Servicing Department as assigned by management.
Core Competencies:
Postsecondary degree in related field, preferred.
5+ years of Commercial Property and Casualty Insurance required; State issued, valid insurance license, preferred, but not required.
Clear and demonstrated knowledge of Commercial Insurance Coverage including, but not limited to Property-including all perils, General Liability, Professional Liability, Excess/Umbrella Liability, Auto, Fidelity/Crime.
Strong Multi-Tasking, Time Management, and organizational skills
Knowledge of Fannie Mae and Freddie Mac servicing and insurance guidelines.
Must have exceptional research and analytical skills, attention to detail, judgement, and ability to resolve and negotiate complex issues.
Ability to thoroughly review and interpret legal contracts such as loan documents and insurance policies.
Ability to work independently and self-prioritize workflow in a high volume/deadline driven environment.
Must have excellent written and verbal communication skills and effectively be able to navigate communications via virtual settings, phone calls, and emails.
Advanced computer skills, including MS Excel, Word, Adobe, Outlook, and Teams.