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Commercial Transaction Manager
First American
Bloomington, MN, United States
Job Details - this job has expired, please see similar jobs below
Acts as the primary interface between the company and the agent, monitoring commercial transactions from beginning to end to ensure a positive title and escrow experience. Focused on building and maintaining strong relationships with the client and company representative.
Essentials Functions
• Commercial Transaction Manager will be accountable for the following items:
◦ Pricing premium and endorsement pricing for policy quote
◦ Pricing search and exam with TAT
◦ Coordinate the work share components and revenue share between the agent, underwriting, and the P/L owner
◦ Coordinate the survey reading process with the agent
◦ Develop, coordinate, and monitor a transactional checklist that monitors the following items:
# Review of the PSA and loan agreements – ensures transactional specific requirements/exceptions are addressed (e.g. ROFR, Options, Non-Imp/Mezz, post close escrows, etc.)
# Review of the underlying exception documents for site specific requirements (e.g. lease/REA estopples, SNDA’s, restrictions, etc.)
# Identify ancillary forms (e.g. transfer affidavits, intake sheets, broker lien waivers, font and type face requirements, margin requirements for recording, etc.)
# Ensure proper parties are reviewing the comment letter, negotiate coverages, endorsements, deletions of exceptions, affirmative language, underlying exception documents, survey review, and drafting survey exceptions
# Coordinate the closing between the agent, escrow team, buyer, seller, and lender.
# Monitor to ensure HILI approval is obtain, where appropriate
# Ensure recordability of the recordable documents
# Coordinate the review and negotiation of owner’s affidavits and gap indemnities
# Monitor the appropriate parties who assist the agent with obtaining and filling out all necessary ancillary forms, affidavits, and documents (jurisdiction specific cover sheets, tax forms, broker lien waiver’s, etc)
# Ensure the appropriate parties are assisting the agent with calculating deed stamps, recording taxes, per page recording fees, withholding taxes, water/sewer charges, local premium taxes, etc.
# Ensure the appropriate parties are assisting the agent with calculating proration for current year ad valorem property taxes.
# Ensure parties are recording documents timely.
# Monitor the escrow process including review of closing instructions and payoff statements
# Coordinate with underwriting, agent, escrow, buyer, seller, and lender for final approvals and confirm that all requirements/conditions have been satisfied
# Notifies all parties when the transaction is expected to close.
# Ensure all post-closing functions are completed timely and in proper compliance including the following items:
# Document all underwriting and pricing approvals are uploaded into the UWB
# Upload all executed copies of relevant documents into UWB
# Coordination of post-closing title update to confirm no gap recordings and proper indexing of the transaction documents
# Monitor the policy issuance
• Coordinate with appropriate parties when all funds have been disbursed appropriately and in accordance with all governing documents.
Knowledge and Skills/Technology Used
• Examination and escrow experience, required
• Excellent written and verbal communication skills
• Excellent interpersonal, relationship-building and teamwork skills
• Self-motivated; self-starter
• Ability to manage multiple tasks, respond quickly to emergent problems, and focus both on long-range projects and immediate tasks
• Proficient in Microsoft Word, Excel and PowerPoint
• Strong attention to detail
• Strong Client service skills
Typical Education
• Bachelor’s degree or equivalent combination of education and experience
Typical Range of Experience
• 10+ years of extensive title insurance commercial transactional experience.
First American invests in its employee’s development and well-being, empowers them to provide superior customer service and encourages them to serve the communities where they live and work. First American is committed to diversity and inclusion. We are an equal opportunity employer.