Commercial Mortgage Loan Operations Specialist

2 months ago

Saint Louis Park, Minnesota, United States Securian Financial Group Full time
About the Role

This position is responsible for planning and executing the organization's business operations on a regular basis. The Commercial Mortgage Loan Operations Specialist will define, develop, improve, and ensure alignment with operational best practices, processes, and policies to support strategy and goals. This role will increase the effectiveness and efficiency of support services through Operational Excellence and Continuous Improvement. Clients in this job family can be internal/external clients, channel partners, and vendors.

Key Responsibilities
  • Upon investment committee approval, the Commercial Mortgage Loan Operations Specialist will transition the commercial mortgage loan closing process from the investment officer. This includes originating a checklist from Securian Asset Management, tracking deal progress, interfacing with in-house counsel, investment officer, outside counsel, and business and closing counterparts in mortgage banking companies.
  • The Commercial Mortgage Loan Operations Specialist will work with internal legal and business staff to ensure post-closing documentation is complete and accurate, and that closing files are assembled for future use.
  • This role will 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.
  • The Commercial Mortgage Loan Operations Specialist will approve the due diligence received pursuant to the requirements specified in the origination documents, including the loan approval and final commitment letter to the borrower. This ensures that the information contained in each item of credit, borrower, and collateral property due diligence is consistent with the loan envisioned by the investment officer.
  • The Commercial Mortgage Loan Operations Specialist will approve the property insurance, ensuring that the coverage meets the lender requirements and sufficiently covers all risks to the loan collateral.
  • This role will coordinate title insurance, surveys, organizational documents, third-party reports, and other information to maintain consistency in the closing process.
  • The Commercial Mortgage Loan Operations Specialist will monitor and direct cash deposits for each transaction; authorize Lender's funding wires.
  • This role will monitor the progress of and compliance with loan escrow agreements and approve the disbursement of escrowed funds.
  • The Commercial Mortgage Loan Operations Specialist will manage the 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.

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