Loan Closer

The Loan Closer manages the loan closing and funding process for a wide range of commercial real estate loan types, including predevelopment, property acquisition, construction, permanent, bridge, and enterprise loans. Working closely and collaboratively with borrowers, attorneys, title companies, public agencies, vendors, and Neighbor Works Capital staff, the Loan Closer ensures that loan documents are correctly prepared; reviews and approves due diligence documentation;

leads regular update calls; maintains an authoritative checklist of materials and activities; and marshals all parties through the process to a successful closing.

Reports to:

Director of Loan Closings

Status:

Full-time (FLSA Non
- Exempt)

Location:

This position can be remote, and requires willingness to travel to Silver Spring, MD on occasion for staff meetings and events.

• Proactively manage the closing of commercial real estate and other commercial loans by coordinating closing activities for internal and external parties, including Borrowers, title and escrow companies, attorneys, and the Loan Officer.
• Draft commitment letters for approved loan transactions and engage Lender's counsel.
• Prepare and update closing checklists, coordinate and manage follow-up for document requests, collection, review, and approval, including scheduling and leading check-in calls to ensure positive customer engagement.
• Analyze and evaluate due diligence materials: property, title insurance, and survey information;
  Borrower and Guarantor entity documents and authorizations; construction documentation; and other Lender's loan documents to identify potential problems and recommend solutions to Director of Loan Closings, Neighbor Works Capital counsel, and others as needed.
• Review and approve Borrower and Project insurance documents.
• Draft loan documents for unsecured commercial loans and review draft loan documents prepared by Lender's attorneys.
• Create, collect and organize electronic files of all loan documents.
• Update Salesforce customer relationship management database throughout closing process.
• Prepare funding instructions to ensure loans are funded properly and fees are collected.
• Adjust working schedule to business needs, including accommodation for Borrowers located throughout the US (multiple time zones).
• Support project management activities for Neighbor Works Capital leadership and other teams as needed. Perform additional duties as assigned.

• Minimum of 5-7 years of demonstrated professional experience in commercial real estate loan closing, servicing, or administration, or experience gained in a paralegal role supporting real estate or commercial finance transactions.
• Knowledge of real estate finance and market fundamentals; experience with affordable housing financing programs (LIHTC, HOME, AHP, etc.) and structures a major plus; a willingness to learn is more essential.
• Demonstrated experience in reviewing and interpreting all types of real estate and non-real estate loan documentation, including, but not limited to, corporate documents, title reports, environmental reports, etc.
• Experience evaluating insurance documents, including corporate general liability, construction (builder's risk, completion), property/hazard, etc.
• Analytical and problem-solving skills with the ability to effectively resolve moderately complex situations and issues.
• Detail-oriented with strong organizational skills and the ability to manage multiple simultaneous loan closings efficiently and effectively.
• Strong interpersonal, verbal, and written communication skills with the ability to effectively interact with internal and external parties.
• Willingness to be part of a team in a mission-based organization, dedicated to improving…