Job Details

Loan Closer

Company name

Organization Type

In-House

Job Type

Legal Staff

Date Last Verified

Nov 20, 2021

Valid Through

Mar 05, 2022

Posted on

Oct 12, 2021

Years of Experience

Min 3 yrs required

Location

Columbus, OH, United States

Employment Type

Full-time

Industry

Legal
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Profile

Loan Closer
Duties: Schedule, coordinate, and run closing calls; draft, update and manage closing checklists to ensure all closing requirements are timely met as a condition to funding. Track, coordinate, and handle the ordering, review, and approval of third-party reports, including appraisals, environmental reports, surveys, title commitments, searches, flood certificates, engineering reports, and /or seismic reports, involving the loan originator and analyst when necessary. Become familiar with the closing requirements of TurnCap, and constantly work to update, build out, and improve closing requirements, processes, and efficiency. Update and promptly disseminate TurnCap’s closing, third party, title, survey, and zoning requirements as necessary. Conduct OFAC, AML, and Patriot Act searches in compliance with the policies and procedures of Bellwether Enterprise, as adopted by TurnCap; update TurnCap policies and procedures as necessary in coordination with legal counsel. Calculate tax and insurance escrow analyses. Obtain, review and coordinate lender approval of insurance carried by the borrower. Review estoppels against the borrower’s rent roll. Obtain, organize and maintain a final record of all lender required due diligence from the borrower and borrower team. Timely deliver all business diligence items to leverage lender. Review due diligence for accuracy, and identify and resolve potential issues in a manner so as to avoid closing delays. Prepare and transmit a statement of TurnCap and third-party fees to the title company for closing, and review settlement statement for accuracy. Maintain organized and accurate closing and due diligence files, and upload them to the central document management system in a timely and organized fashion. Take such other actions as necessary or desirable to process the loan from application/commitment to closing, and to ensure a seamless transition to loan set-up and servicing. Ability and desire to cross-train with other functionalities (e.g., underwriting, asset management, etc.). Assist with special projects on an as-needed basis.

Qualification and Experience

Qualifications: A Bachelor’s Degree, Certificate or Associate’s Degree in Administrative Science or Paralegal Studies, or equivalent work experience. 3+ years of experience with closing and processing commercial mortgage loans across all asset classes (multi-family, self-storage, retail, industrial, and office). Familiarity with Fannie, Freddie, and FHA requirements is preferred. Strong computer literacy and working knowledge of Microsoft products. Literacy with SalesForce is a plus. Ability to operate effectively both independently and in a team environment. Ability to multi-task with a strong sense of urgency and meet deadlines in a fast-paced environment. Self-motivated, detail-oriented, and organized. Strong written and oral communication skills. Strong work ethic and ability to take on new challenges quickly and successfully.

Additional info

Req. #: 700

Company info

Hiring Coordinator
Bellwether Enterprise Real Estate Capital, LLC
750 Communications Pkwy Suite 2
Columbus, OH 43214

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