What are the responsibilities and job description for the Paralegal- Affordable Housing position at Newmark?
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. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of March 31, 2024, Newmark’s company-owned offices, together with its business partners, operated from approximately 170 offices with 7,600 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
Job Description:
Under minimal supervision, responsible for abstraction of all regulatory agreements relating to S42/tax platform in support of our multi-family affordable housing team.
Essential Job Duties:
- Abstract key portions of all regulatory agreements -
- identifying compliance periods using 8609s in tandem with LURAs.
- identify if there is a qualified contract option or if it has been waived.
- identify any material provisions related to limited distributions, ownership entity types, materially participating nonprofits, special services that need to be provided, etc.
- Abstract all loan documents and any regulatory agreements thereto -
- identify principal balance, estimate current balance, interest rate, I/O period, amortization schedule, total annual debt service payments, any loan modifications that change the original payment terms.
- identify provisions related to assumptions, lockout, prepayment types.
- identify if regulatory agreements end with loan payoff or remain through affordability periods.
- Conduct research of applicable state regulatory requirements relative to brokerage activities.
- Conduct due diligence research in connection with transactions.
- Track agreements and execution of contracts; prepare quarterly report.
- Conduct legal research as required.
- Provide other Team and transactional support.
Skills, Education and Experience:
- Bachelor’s degree in business administration or equivalent experience.
- 3 years of paralegal experience
- Proficiency in Microsoft Office and Excel
- Ability to handle confidential Company information.
- Self-directed, well organized, detail-oriented, highly accurate, excellent communication and customer service skills.
- May perform other duties as assigned.
Benefits and Perks:
- Industry leading Parental Leave Policy (up to 16 weeks).
- Generous healthcare.
- Bright Horizons back-up care program.
- Generous paid time off.
- Education reimbursement.
- Referral Program.
- Opportunities to network and connect.
Benefits/perks listed may vary depending on the nature of your employment with Newmark and the job location.
Working Conditions: Normal working conditions with the absence of disagreeable elements
Note: The statements herein are intended to describe the general nature and level of work being performed by employees and are not to be construed as an exhaustive list of responsibilities, duties, and skills required of personnel so classified.
Newmark is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex including sexual orientation and gender identity, national origin, disability, protected Veteran Status, or any other characteristic protected by applicable federal, state, or local law.
