Commercial Loan Closer

Summary: The Commercial Loan Closer must be knowledgeable of the various investor programs and loan products offered by Merchants Capital, which include FHA HUD/RHS. The Commercial Loan Closer will be held accountable and responsible for the compliance of the respective program guide requirements. The position's primary focus will be on HUD and RD loans originated by Merchants Capital.

Essential Duties and Responsibilities: The responsibilities of the Commercial Loan Closer include, but are not limited to, those outlined below.

• Participate in Kick-off call with both Internal team members and Borrower to gain understanding of transaction at onset of process;
• Expert for all applicable loan policies and procedures both internally and required by Agency Guide's;
• Assist origination & underwriting in clearing stipulations required by loan committee or Agency program (as/if applicable);
• Maintain 'Pipeline report(s);
• Coordinate with the MCC's legal representatives to schedule loan closings, while collecting required items needed for closing from the Borrower, Bank, or Legal Team;
• Organize closing calls with borrower and counsel, as needed;
• Create Settlement Statements for closing and oversee the contribution of equity, loan disbursements, and third-party payments;
• Coordinate all aspects of loan closings including provide outside counsel with timely receipt of required closing documents, work closely with counsel to prepare and review all necessary loan documents, review title and survey comments prepared by counsel and follow up if required, and obtain all necessary documentation for the completion of a closing statement as well as obtain backup documentation for the processing of an initial draw for construction transactions.
• Arrange loan fundings;
• Review and track all Lender and Investor commitments, as applicable;
• Issue loan commitments and confirmations, as applicable;
• Coordinate all loan delivery packages, as applicable;
• Deliver permanent loan files to servicing, construction servicing and asset management departments.
• Ability to travel to closings, as required;
• Along with other duties as assigned.

• Strong organizational skills with attention to detail.
• Possess the initiative to work in an independent and reliable manner, and ability to work closely with other internal departments to process a loan in a timely manner.
• Strong customer service skills in person, via electronic communication and phone.
• Proficient in Microsoft Work, Excel, Outlook and database management
• Requires critical thinking skills and multitasking.
• Two-year college degree with two-years' experience or 5 years real estate lending specific experience preferred.
• Educational or work experience in relation to loan processing in finance, real estate or associated fields preferred.
• Preference to previous FHA/HUD or title experience.

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