Commercial Mortgage Loan Closer and Administrator

  • Company:
    Michael Page CA
  • Location:
  • Salary:
    negotiable / month
  • Job type:
    Full-Time
  • Posted:
    16 mins ago
  • Category:
    Financial Services - Banking & Financial Services

* Receipt of deposits and signed letters of intents/commitments and circulating to assigned legal counsel

* Engaging title insurance company and other service providers as necessary for completion of due diligence

* Preparing introductory letters to borrowers with checklists and due diligence documents

* Reviewing and monitoring tenant estoppel certificates as required

* Providing support to borrowers and originators/underwriters by initiating requests for appropriate information and documentation concerning the closing of each loan file

* Working with the borrowers to answer and resolve any questions concerning the closing of their mortgage loan

* Work with all third-party vendors to facilitate each loan closing file

* Reviewing loan documents and legal due diligence packages, including anti-money laundering requirements for completeness and accuracy

* Receiving and forwarding insurance policies for review by insurance consultant

* Working with the underwriting and origination teams to ensure that loan due diligence has been completed in preparation for closing, including ensuring all escrow and reserve requirements are included in the final mortgage loan closing statement

* Providing instructions to legal counsel in negotiation of loan documents

* Coordination with underwriting and accounting teams

* Reviewing loan files to ensure all conditions are cleared and file is ready to close

* Preparing and balancing closing numbers, requisitioning funds and arranging funding wires

* Checking that disclosure tolerances are within guidelines and ensure that all procedures meet internal and investor requirements as well as compliance to all regulatory and governmental agencies

* Post-closing assisting with routine servicing administration for Canadian commercial mortgage portfolios

* Accurate entry of loans in servicing software in accordance with parameters outlined in loan documents

* Analyzing realty tax obligations and processing tax payments for applicable loans

* Monitoring insurance policies for properties to ensuring adequate coverage is in place

* Analyzing financials, rent rolls and operating statements and entering into servicing system

* Reviewing documents for loan covenants, reporting requirements, etc. for all loans in portfolio and entering into servicing system

MPI does not discriminate on the basis of race, religion, sex, sexual orientation, gender identity or expression, age, disability, marital status, or based on an individual’s status in any group or class otherwise protected under applicable human rights legislation. MPI encourages applications from minorities, women, the disabled and all other qualified applicants

* Experience

Minimum 3 years related experience (residential and/or commercial)

* Other Skills/Knowledge

Ability to work independently and handle multiple priorities
Ability to handle a heavy workload at times
Excellent organizational abilities
Excellent customer service skills
Excellent verbal and written communication skills
Computer skills – Windows, Microsoft Office (Word, Excel, Outlook)
Basic accounting knowledge

Our Toronto-based client is a commercial mortgage lender, loan servicer and investment fund manager. They offer a full range of investment and capital provision products for real estate owners and investors including commercial mortgages, mezzanine financing, investment funds, and commercial mortgage-backed securities.

Competitive base salary

Benefits & performance-based bonus included