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Commercial Mortgage Loan Closer

2 months ago


Lakeville, Minnesota, United States Securian Financial Group Full time
Job Summary

We are seeking a highly skilled Commercial Mortgage Loan Closer to join our team at Securian Financial Group. As a key member of our business operations team, you will be responsible for planning and executing the organization's business operations on a regular basis.

Key Responsibilities
  • Transition commercial mortgage loan closing process from investment officer upon investment committee approval
  • Originate checklist from Securian Asset Management, track deal progress, and interface with in-house counsel, investment officer, outside counsel, and business and closing counterparts in mortgage banking companies
  • Work with internal legal and business staff to ensure post-closing documentation is complete and accurate closing files are assembled for future use
  • Coordinate with portfolio managers, investment officers, attorneys, internal and external auditors, and other departmental staff to recommend solutions for problems that arise in connection with the investment transactions
  • Approve due diligence received pursuant to the requirements specified in the origination documents, including loan approval and final commitment letter to the borrower
  • Ensure that information contained in each item of credit, borrower, and collateral property due diligence is consistent with the loan envisioned by the investment officer
  • Approve property insurance, ensuring that coverage meets lender requirements and sufficiently covers all risks to the loan collateral
  • Coordinate title insurance, surveys, organizational documents, third-party reports, and other information to maintain consistency in the closing process
  • Monitor and direct cash deposits for each transaction; authorize Lender's funding wires
  • Monitor progress of and compliance with loan escrow agreements and approve disbursement of escrowed funds
  • Manage transaction settlements to participating investors
Requirements
  • Knowledge of real estate, preferably in commercial loan closing
  • Ability to read and comprehend third-party reports (Environmental, Appraisal, and Engineering) for accuracy and relevancy
  • Experience reviewing real estate leases for both business and legal issues
  • Understanding of legal and financial concepts and practices with the ability to extract and analyze critical information from business and legal documents
  • Strong math, analytical, and critical thinking skills with strong attention to detail
  • Strong communication skills to establish and maintain effective interaction with outside counsel, brokers, mortgage bankers, and counterparts
  • Excellent organizational skill and the ability to manage multiple, time-sensitive tasks and make independent decisions
  • Knowledge of PC software, proficient at Microsoft Word and Excel
Preferred Qualifications
  • 3+ years of experience as a Commercial Loan Closer or equivalent paralegal, loan officer, or underwriting experience in a real estate lending area
  • Bachelor's Degree in a related field and/or equivalent combination of training and experience in the real estate lending environment
  • Project management experience
Work Environment

Securian Financial Group believes in hybrid work as an integral part of our culture. Associates get the benefit of working both virtually and in our offices. This position requires you to live within a commutable distance (90 minutes) of our Home Office in downtown St. Paul. You will join us 2-3 days each week in our offices to collaborate and build relationships.

Physical Job Requirements
  • Ability to utilize the keyboard, computer, and/or mouse for up to 8 hours per day
  • Ability to work at least 40 hours per week
  • Ability to utilize the phone and/or virtual meeting platform for 1-4 hours per day
  • Ability to perform grasping tasks throughout the entire workday (examples: handwriting, grasping of equipment/machines, paper manipulation, sorting, folding, handling stacks of paper)