Real Estate Construction Loan Closer
|Reference # :||21-00892||Title :||Real Estate Construction Loan Closer|
|Location :||Tampa, FL|
|Position Type :||Contract|
|Experience Level :||Start Date / End Date :||07/12/2021 / 01/11/2022|
The Client Business within Major Global Bank's Global Spread Products ("GSP”) Municipal Finance Division, is seeking to hire a new Real Estate Closing professional. As a member of the CCC Transaction Management team, the Real Estate Closer will play an integral part in ensuring the complete and timely closing of new construction loans from end to end. Once a loan is under application, the Real Estate Closer will work with the Production and Underwriting teams, interface directly with the project Sponsor, third party vendors, and outside counsel to ensure the loan is properly approved and all items on the closing checklist are completed. You will be the primary person to ensure the loan will be ready to close on the assigned date, and will organize deal team meetings to discuss timelines, flow of funds and equity partners on the deal.
Client provides a suite of financial products to help affordable housing developers construct, rehabilitate, refinance, and acquire affordable multifamily housing across the country. Committed to the communities we serve, Client finances both straightforward and highly structured transactions for non-profit and for-profit affordable housing developers, Community Development Financial Institutions, and state and local government agencies.
It is the mission of Client to be the preferred financial partner for affordable housing developers, non-profits and governmental entities that focus on community development. We provide our clients with a distinctive, remarkable experience based on world class responsiveness, customer service, creativity and superior execution. This mission will be accomplished while delivering superior financial performance for Major Global Bank, consistent and impactful CRA results, and an inclusive and rewarding experience for our employees.
Work closely with the project sponsor/borrower and deal team members from Underwriting, Construction Risk, and other teams throughout the closing and approval process.
Work closely with outside counsel to prepare and review all loan closing documents
Must have the ability to comprehend and interpret the credit memo and underwriting analysis to appropriately communicate issues to all pertinent parties and ensure all closing conditions are satisfied prior to closing
Requires knowledge and understanding of Client's various lending programs to make judgment calls and decisions throughout the closing process to ensure a successful closing.
Review deal summary and legal documents to ensure the risk profile and deal structure are captured across all systems to allow for accurate financial and business reporting.
Review title and survey comments prepared by counsel and follow up if required
Prepare closing settlement statement, review closing costs, coordinate with Operations to set up funding, and complete delivery package for post-closing servicing.
Address borrower inquiries and have proper judgment experience to know when issues should be elevated
Candidate is required to have a BA/BS. A minimum of 2-3 years' experience in real estate industry/loan administration or equivalent role is preferred. Previous closing experience with affordable multifamily deals preferred.
Individual must have excellent communication, organizational and interpersonal skills, and an ability to work effectively under tight deadlines.
The candidate must be detailed and quality assurance oriented; capable of working multiple initiatives simultaneously; and work collaboratively across teams within the Bank
Energetic individual who shows initiatives, is a team player, and has a positive attitude to change.
Ease with learning new systems/applications required. Demonstrates good excel skills, Quick learner and ability to work with minimal direct supervision.
Highly-effective influencing skills; the ability to be coordinate internal meetings with several parties (Underwriting, Legal, Compliance, Risk, etc.) to gather information and meet conversion conditions
Knowledge of commercial real estate legal documentation is a plus