Commercial Mortgage Loan Closer

2 weeks ago

Stillwater, 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 Commercial Mortgage Loan Closer, you will be responsible for planning and execution of the organization's business operations on a regular basis. You will define, develop, improve, and ensure alignment with operational best practices, process, and policies to support strategy and goals.

Key Responsibilities
  • Transition commercial mortgage loan closing process from investment officer upon investment committee approval.
  • Originate checklist from Securian Asset Management, track deal progress, 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 and recommend solutions for problems that arise in connection with the investment transactions.
  • 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.
  • Ensure 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.
  • Approve the property insurance, ensuring that the coverage meets the 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 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 the disbursement of escrowed funds.
  • 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 experience as a Commercial Loan Closer or equivalent paralegal, loan officer, or underwriting experience in a real estate lending area.
  • Bachelor's Degree in related field and/or equivalent combination of training and experience in the real estate lending environment.
  • Project management experience

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