The Loan Closing Manager (LCM) ensures the timely closing of loans and transitions loans to Portfolio Management and Servicing. The LCM maintains productive relationships with internal and external stakeholders throughout the closing process.
Essential Duties and Responsibilities:
- Attends loan committee meetings and documents loan approvals and closing conditions.
- Prepares commitment letters consistent with loan committee approval.
- Collaborates with underwriters and follows up to ensure the appropriate due diligence is performed to satisfy closing conditions.
- Ensures loans are risk rated at closing and communicates reserve requirements to Senior Vice President, Lending Capital through preparation of final booking sheet.
- Develops naming conventions and file architecture for closed loan files and collaborates with Loan Processor, Servicing to ensure all closing documents are appropriately named and stored post-closing.
- Manages the creation of loan documents by counsel that reflect the loan approval and subsequent due diligence for closing conditions. Creates templates for standard loan documents to expedite the closing process.
- Ensures borrowers understand their responsibilities by reviewing loan documents and explaining loan covenants, reporting requirements, and draw processes as needed.
- Perfects collateral as necessary by filing appropriate liens or UCC filings.
- Manages preparation of investor-related materials for deal closings and coordinates the execution of funding requests. Demonstrates industry knowledge and expertise to instill confidence in investors.
- Transitions loans to Portfolio Management and Servicing staff, flagging any portfolio management or servicing requirements outside the norm, and ensures borrowers are aware of appropriate portfolio management and servicing contacts.
Qualifications and Skills:
- Bachelor’s degree and at least 5 years of progressively responsible work experience required.
- Extensive experience closing real estate loans.
- Expert knowledge of loan documentation, security instruments, and other closing requirements.
- Knowledge of affordable housing and community development desired.
- Strong stakeholder relations and organizational skills.
- High level of detail-orientation
- Intellectual Agility: Can flex and adapt thinking skills to meet the needs of different situations and circumstances. Doesn’t limit problem solving to one approach or methodology.
- Perseverance: Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems
- Resource Optimization: Applies knowledge of internal structures and existing talent to accomplish a goal.
- Customer Focus: Stays ahead of customer needs and uses insight to develop new and/or modify client services.
Reporting Relationship: Reports to Senior Vice President, Cinnaire Lending
Supervisory Relationship: Closing Coordinator
- Ability to work on a computer for extended periods of time.
Travel Required: OccasionalApply