Summary
The Loan Closer manages the loan closing and funding process for a wide range of commercial real estate loan types, including predevelopment, property acquisition, construction, permanent, bridge, and enterprise loans. Working closely and collaboratively with borrowers, attorneys, title companies, public agencies, vendors, and NeighborWorks Capital staff, the Loan Closer ensures that loan documents are correctly prepared; reviews and approves due diligence documentation; leads regular update calls; maintains an authoritative checklist of materials and activities; and marshals all parties through the process to a successful closing.
Reports to: Director of Loan Closings
Status: Full-time (FLSA Non- Exempt)
Location: This position can be remote, and requires willingness to travel to Silver Spring, MD on occasion for staff meetings and events.
Duties and Responsibilities
- Proactively manage the closing of commercial real estate and other commercial loans by coordinating closing activities for internal and external parties, including Borrowers, title and escrow companies, attorneys, and the Loan Officer.
- Draft commitment letters for approved loan transactions and engage Lender’s counsel.
- Prepare and update closing checklists, coordinate and manage follow-up for document requests, collection, review, and approval, including scheduling and leading check-in calls to ensure positive customer engagement.
- Analyze and evaluate due diligence materials: property, title insurance, and survey information; Borrower and Guarantor entity documents and authorizations; construction documentation; and other Lender’s loan documents to identify potential problems and recommend solutions to Director of Loan Closings, NeighborWorks Capital counsel, and others as needed.
- Review and approve Borrower and Project insurance documents.
- Draft loan documents for unsecured commercial loans and review draft loan documents prepared by Lender’s attorneys.
- Create, collect and organize electronic files of all loan document
- Update Salesforce customer relationship management database throughout closing process.
- Prepare funding instructions to ensure loans are funded properly and fees are collected.
- Adjust working schedule to business needs, including accommodation for Borrowers located throughout the US (multiple time zones).
- Support project management activities for NeighborWorks Capital leadership and other teams as needed. Perform additional duties as assigned.
Qualifications
- Minimum of 5-7 years of demonstrated professional experience in commercial real estate loan closing, servicing, or administration, or experience gained in a paralegal role supporting real estate or commercial finance transactions.
- Knowledge of real estate finance and market fundamentals; experience with affordable housing financing programs (LIHTC, HOME, AHP, etc.) and structures a major plus; a willingness to learn is more essential.
- Demonstrated experience in reviewing and interpreting all types of real estate and non-real estate loan documentation, including, but not limited to, corporate documents, title reports, environmental reports, etc.
- Experience evaluating insurance documents, including corporate general liability, construction (builder’s risk, completion), property/hazard, etc.
- Analytical and problem-solving skills with the ability to effectively resolve moderately complex situations and issues.
- Detail-oriented with strong organizational skills and the ability to manage multiple simultaneous loan closings efficiently and effectively.
- Strong interpersonal, verbal, and written communication skills with the ability to effectively interact with internal and external parties.
- Willingness to be part of a team in a mission-based organization, dedicated to improving neighborhoods and strengthening organizations through affordable housing and community development.
- Proven history as a self-starter who can add value by driving process-related decisions while working independently.
- Experience working in a remote environment (home or office), requiring frequent online collaboration with teammates.
- Proficient in Microsoft Office Suite, especially Excel and Word. Experience with Salesforce and Dropbox a plus.
- Fluent in English.
Compensation range
Annual salary range $75,000 to $85,000 depending on experience plus excellent employer-paid benefits package that includes medical, dental, vision, 12 paid holidays, generous PTO & sick leave, life insurance, disability, 6% contribution of eligible salary to 401(k), transportation subsidy, matching contribution plan to eligible nonprofits, and bonus potential.
About NeighborWorks Capital
NeighborWorks Capital is a national non-profit, certified Community Development Financial Institution (CDFI) serving NeighborWorks America network organizations, nearly 250 strong, capable non-profit housing and community development organizations in every state, the District of Columbia, and Puerto Rico. These organizations provide communities with affordable housing, financial counseling, training, and resident engagement in the areas of housing, health, employment, and education.
NeighborWorks Capital’s current capitalization is nearly $200 million, with nearly $100 million in loans outstanding nationwide. Since its inception, the organization has deployed over $600 million in loan capital to support the NeighborWorks network. S&P Global Ratings has assigned NeighborWorks Capital an issuer credit rating of “AA-/Stable,” citing strong capital adequacy, profitability, liquidity, and financial management. NeighborWorks Capital has been Aeris-rated since 2011 and currently holds a four-star Impact Management rating as well as an AA Financial Strength and Performance Rating, indicating robust financial capability and risk management.
NeighborWorks Capital is an Equal Opportunity Employer. It is NeighborWorks Capital’s commitment to treat all its employees and candidates for employment with dignity and respect and to provide a workplace that is free from discrimination, whether that discrimination is based on race, color, religion, sex, national origin, disability, political affiliation, marital status, membership in an employee organization, age, sexual orientation, gender identity, pregnancy, or other non-merit factors.
How to Apply:
Please submit your resume and cover letter to jobs@neighborworkscapital.org using the following file naming format:
- [Your Name] – Resume
- [Your Name] – Cover Letter
Using this format helps ensure your application is processed efficiently. Please submit your documents as Word or PDF files; Google Drive, Dropbox, or other shared links will not be accepted.
