State of Washington

<h2>Description</h2>
Real Estate Securitization Specialist (COM 4) At the Department of Commerce, we’re reimagining what’s possible in government. We’re builders, thinkers, and change-makers, working at the intersection of innovation, community, and impact. From unlocking critical funding to fueling inclusive economic growth, we’re turning big ideas into real-world solutions that uplift people and places.
Our agency’s strength lies in the diversity of our workforce and the breadth of the lived experiences and perspectives employees bring to the work. We believe equity is not just a value but a practice, which is reflected in how we design programs, engage communities, and deliver outcomes. We foster a workplace culture where curiosity is encouraged, bold thinking is welcomed, and collaboration drives our impact.
Let’s build what’s next, together. 
The Local Government Division (LGD) partners with local governments, nonprofits, and others to strengthen the ability of all forms of local government and community-based organizations to fund and develop critical services to their citizens. The division provides leadership in local government finance and statewide infrastructure initiatives that help create and retain jobs. We also provide grants, loans, and planning and technical assistance to local governments for community development needs, infrastructure improvements, and economic development opportunities.
The Real Estate Securitization Specialist (COM 4) provides property securitization services to the Local Government Division. This position functions as an expert level technical specialist responsible for evaluating real estate property and project feasibility of awarded projects. These evaluations require expert level knowledge of investment and financing structures, public and private lending, land law and lien priorities, acquisition, appraisals and industry standards to ensure compliance with policies and regulations for the Community Programs section in order to protect the state’s interest in investments. This position provides expert technical assistance to grantees and responds to inter-division and agency inquiries regarding the requirements for real estate securitization. The position performs expert level specialized analysis of real estate valuations, and financial and investment structures, and directs the process to completion. Positions performs a variety of specialized activities in real or personal property that include, but not limited to, the following: real or personal property appraisals and/or audits, property management, negotiations, relocation, title examination, acquisition, leasing, valuation, and/or project management. Some positions administer a statewide program such as a senior tax deferral or public utility district privilege tax or serve as a technical expert in the securitization, development, and implementation of various state and/or federal programs.
<h2>Duties</h2>
Real Estate Securitization Services Tasks Include:
<ul>
<li>Provide expert level consultation to agency, division, grantee, and extended parties reviewing real estate instruments, site control, real estate project feasibility review, tax credit structures, financing structures, state statutes and program implications, and utilize legal expertise and distribute comprehensive determinations from AAG review as applicable.</li>
<li>Determine and draft appropriate forms of securitization for each grant, instruments such as promissory notes, deeds of trust, Priority Agreements, Subordination Agreements, Partial/Full Reconveyance, Assignments, Tax Credit instruments, site control, Memorandum of Understanding, Easements/Rights of Way, Air Rights Conveyances, and any other related real estate instrument.</li>
<li>Determine which projects may move forward to contracting and receive the award.</li>
<li>Direct grantees and stakeholders through the drafting and completion of security instruments for all Capital and Community Programs as applicable to behavioral health, early learning, local community projects as well as other programs.</li>
<li>Develop and implement new program requirements to be reflected in security instruments, document varying requirements as applicable to securitization of grant.</li>
<li>Evaluate each grant project for appropriate security documents to protect the lien position of Commerce.</li>
<li>Review and analyze title reports and information to determine if liens, exceptions, etc. are acceptable or if removal is required.</li>
<li>Establish and negotiate clear title for the agency by ensuring lien impediments or disputes are satisfied as required, prior to approval.</li>
<li>Negotiate subordination requests from banks and other institutions to ensure Commerce’s security is adequately protected in a junior lien position.</li>
<li>Review property valuations/appraisals to determine loan to value ratio to ensure adequate project value to protect Commerce lien position.</li>
<li>Analyze financial transactions, real estate acquisitions, tax credit partnership structures, lease documents, and direct the drafting of priority and subordination agreements, deeds of trust, covenants and other legal documents to ensure project feasibility and mitigate risk.</li>
<li>Analyze and review the title of real estate assets for financial soundness in relation to the project scope and grant award.</li>
<li>Manage and mitigate risk for Commerce by analyzing and identifying transactional and organization risks of the contractor, investment structure, and loan terms on project.</li>
<li>Negotiate with contractors/grantees, their legal counsel, and other project funders and orchestrate agreements to resolve conflicts between the state and other public and private investors regarding legal and financial interests.</li>
<li>Provide highest level of technical expertise for negotiating, developing, and finalizing sufficient property securitization agreements and practices while updating the Property Securitization Supervisor of critical conversations.</li>
<li>Consult with the AAG on all document decision point requests submitted for review and coordinate communication with impacted parties (Property Securitization Supervisor, staff, and external stakeholders).</li>
<li>Create and implement reconveyance process in compliance with each program commitment period.</li>
<li>Maintain expert knowledge of contracting, amendments, and compliance monitoring and its relation and impact to the securitization process.</li>
<li>Provide oversight on the qualification of an assignment or assumption.</li>
</ul>
Records Management Tasks Include:
<ul>
<li>Manage the full life cycle of security documents from inception to the re-conveyance in 10 to 15 years.</li>
<li>Track and record all finalized property security documents.</li>
<li>Ensure that records are sufficiently maintained and that all agreements are released according to the appropriate timelines for each agreement.</li>
</ul>
<h2>Qualifications</h2>
Required Position Qualifications:
<ul>
<li>Seven (7) years of combined experience and/or education as described below:</li>
</ul>
Education and Experience involves real estate finance, real estate law, title examination, title underwriting, escrow officer, real estate lending, land development, foreclosure, and state or federal housing. Qualifying education post High School or equivalent may be substituted year for year for experience.
Examples of how to qualify: 
<ul>
<li>7 years of experience</li>
<li>6 years of experience and one year of education</li>
<li>5 years of experience and two years of education</li>
<li>4 years of experience and three years of education</li>
<li>3 years of experience and four years of education</li>
<li>2 years of experience and five years of education</li>
<li>1 years of experience and six years of education</li>
</ul>
Required Competencies: 
<ul>
<li>Accountability-Meets commitments, works independently, accepts accountability, handles change, sets personal standards, stays focused under pressure, meets attendance/punctuality requirements
</li>
<li>Customer Service-Handles customer questions and complaints, communicates with customers, handles service problems politely and efficiently, always available for customers, follows procedures to solve customer problems, understands company products and services, maintains pleasant and professional image.
</li>
<li>Integrity-Deals with others in a straightforward and honest manner, is accountable for actions, maintains confidentiality, supports company values, and conveys good news and bad.
</li>
<li>Teamwork-Meets all team deadlines and responsibilities, listens to others and values opinions, helps team leader to meet goals, welcomes newcomers and promotes a team atmosphere.
</li>
<li>Results Focus-Targets and achieves results, sets challenging goals, prioritizes tasks, overcomes obstacles, sets team standards and responsibilities, provides leadership/motivation.
</li>
<li>Communication-Communicates well both verbally and in writing, creates accurate and punctual reports, delivers presentations, shares information and ideas with others, has good listening skills.
</li>
<li>Organizational Savvy-Operates within the organization's formal and informal structures, builds allies and relationships across departments, uses allies to build consensus and create results, is appropriately diplomatic, understands others' roles and perspectives, can sell projects and ideas across the organization.
</li>
<li>Computer Skills-Skilled in the use of computers, adapts to new technology, keeps abreast of changes, learns new programs quickly, use computers to improve productivity.
</li>
<li>The ability to take action to learn and grow.
</li>
<li>The ability to take action to meet the needs of others.
</li>
</ul>
To be considered for this position, the following are needed:
<ul>
<li>A complete and detailed online application.</li>
<li>A cover letter (enter online).</li>
<li>At least three professional references (enter online).</li>
</ul>
For questions about this recruitment, please contact our recruitment team via email: <a href="mailto:comrecruitment@commerce.wa.gov" rel="nofollow noopener" target="_blank">comrecruitment@commerce.wa.gov</a> - please reference the job number in your message.
<h2>Supplemental Information</h2>
Work from Anywhere in Washington State
This position may be located anywhere within Washington State though occasional travel to a Commerce office building or in-state travel may be required. If selected, you will need to travel to pick up equipment, receive instructions, and possible training. Many Commerce employees work remotely or have a hybrid schedule.
This recruitment may be used to fill future vacancies over the next 60 days.
Technical support is provided by NEOGOV, 855-524-5627 (can't log in, password or email issues, error messages). DES job seeker support may answer general questions regarding the recruiting system at <a href="mailto:careershelp@des.wa.gov" rel="nofollow noopener" target="_blank">careershelp@des.wa.gov</a>.
Our Commitment to Equal Opportunity
The Washington State Department of Commerce is an equal opportunity employer. We strive to create a working environment that includes and respects cultural, racial, ethnic, sexual orientation and gender identity diversity. Women, racial and ethnic minorities, persons of disability, persons over 40 years of age, veterans or people with military status, and people of all sexual orientations and gender identities are encouraged to apply. Persons needing accommodation in the application, testing, or interview process or this job announcement in an alternative format may email Human Resources at <a href="mailto:Human.Resources@commerce.wa.gov" rel="nofollow noopener" target="_blank">Human.Resources@commerce.wa.gov</a>. Applicants who are deaf or hard of hearing may call through the Washington Relay Service by dialing 7-1-1 or 1-800-833-6388.
Department of Commerce also offers a competitive benefits package including: medical and dental insurance benefits, retirement and deferred compensation plans, 11 paid holidays each year, 14-25 vacation days per year (depending on length of employment), 8 hours of sick leave per month (if full time employed), bereavement leave, an employee assistance program, as well as other benefits. Please see the Benefits Tab for more details.

Real Estate Securitization Specialist (COM 4)

Real Estate Securitization Specialist (COM 4)

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