The Oneil Search Group
Job Summary: The Underwriter leads national transactions. S/he is the primary contact with the national underwriters and customers on these transactions and is responsible for facilitating discussions and negotiations between the parties to reach an agreement on title insurance coverages on commercial transactions.
Duties & Responsibilities:
· Works directly with national underwriters and SU to underwrite, direct, and oversee all aspects and phases of the title insurance process on large and complex national commercial real estate transactions, including those involving high-profile assets and/or large numbers of assets located in multiple jurisdictions.
· Independently and proactively identifies potential title insurance coverage issues on transactions and works with national underwriters and other transaction parties to negotiate solutions.
· Works with theaccounting department to facilitate, oversee, and coordinate the escrow, closing and settlement processes on commercial real estate transactions. Review, approves and complies with all escrow instructions and settlement requirements.
· Independently reviews all transaction-required documentation, such as deeds, security instruments, affidavits, organizational and authority documents, releases, etc. that are necessary to the issuance of a title policy and independently provides a high-level risk analysis for approval from SU.
· Independently facilitate all aspects of the closing, including but not limited to confirming/seeking underwriting approving for all curative proofs and closing documents required to issue a title policy.
· Independently anticipate title issues and direct team members how to proactively anticipate/solve time sensitive issues that advances the deal to closing.
· Reviews survey and zoning coverage requirements to issue title coverage; and provides final comments/review/approval to survey reading.
· Negotiates and calculates title premiums and fees on commercial real estate transactions.
· Provides additional necessary support to production and operations with orders and other customary matters to facilitate the title order, title production and closing of transactions.
· Thorough understanding of fundamental title insurance and underwriting concepts, such as title exceptions, affirmative coverage; endorsements; survey coverage; non-imputation requirements; co-insurance; mezzanine financings; zoning coverage and similar matters.
· Comprehensive understanding of industry licensed state and workshare models and regulatory limitations and ability to oversee and facilitate team compliance with related policies and procedures.
· Primary customer contact on his/her matters, for all workshare partners, coinsurers and underwriters.
· Facilitate and coordinate interaction and cooperation among multiple underwriters, workshare partners and coinsurers on transactions, where applicable.
· Mentor other support personnel involved in the transaction.
· Assist productions teams with general tasks, as requested.
· Appropriately document the file with clearance proofs and Underwriter approval for risks.
· Update deal pipeline reports; and
· Prepare required reporting and recordkeeping.
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