Loan Closing Administrator

Background

We believe that community ownership of community assets is one of the most powerful tools for cultivating thriving communities, promoting economic justice, and building power.

As a nonprofit Community Development Financial Institution (CDFI), we offer tailored financing solutions and expert advisory services to support community-led real estate projects in low income communities throughout California. Our approach enables community-rooted organizations to acquire, preserve, and develop social purpose real estate that provides affordable and supportive housing, meets human needs, fosters artistic cultural expression, and helps build income and wealth.

Since our founding in 1987, we have invested over $613 million in financing and distributed more than $38 million in grants, leveraging another $2.5 billion in capital. Our team has empowered hundreds of nonprofits and social enterprises in navigating the complexities of real estate development and financing, helping our clients achieve permanency, well-being, justice, power, and equity.

Summary

Community Vision’s Capital Solutions team manages our lending program, which consists of commercial loan transactions including real estate acquisition, construction, predevelopment and term loans, and lines of credit. The Loan Closing Administrator serves an important role on the Capital Solutions team and in supporting Community Vision’s mission.  To this end, the Loan Closing Administrator will work with outside counsel to prepare legal documents, perform appropriate due diligence tasks, and ensure conditions precedent are met in order to ensure loans are closed and documented in accordance with Community Vision’s credit policies and guidelines.

The Loan Closing Administrator facilitates communication with numerous stakeholders – effectively and accurately informing borrowers about their loans, efficiently working with outside legal counsel to capture loan terms and conditions, and collaboratively managing the process to ensure that loans are timely closed and funded. This role requires attention to detail, with an emphasis on complex federal and state regulations and intricate credit agreements, notes, guarantees, and collateral documentation.

Responsibilities

Loan Closing Management and Communication (85%)

• Serve as a primary point of contact during loan documentation, closing and initial disbursements, providing assistance and explanation for borrowers throughout.

• Perform pre- and post-closing functions including managing closing checklists to ensure that closing counsel has received all required documents to review and close each loan.

• Review draft loan documentation, legal descriptions, preliminary title reports, and insurance documentation to verify accuracy of terms and collateral information.

• Manage and communicate transaction timelines to internal and external partners to verify all appropriate deadlines are being met.

• Ensure proper internal hand-off and transition of responsibilities in a timely manner.

• Maintain accurate, well-organized electronic loan files through loan closing and disbursement, keeping an audit trail of all closing and monitoring documents and materials.

• Maintain a working knowledge of up-to-date loan policies and protocols.

Compliance, Reporting and Other Lending Projects (10%)

• Update internal loan tracking system in Salesforce database pursuant to Community Vision’s data policies.

• Work collaboratively with colleagues and other departments to manage information, preparing reports and documents for various internal and external needs, funding requests, and compliance with investor covenants.

• Collaborate cross-functionally to support monitoring and compliance requirements.

• Manage or assist on initiatives as requested, including industry research, product development, operational efficiency, compliance and reporting systems protocol, social impact tracking development, funding applications or policy analysis.

General (5%)

• Participate in internal work groups as needed to support organizational initiatives.

• Undertake special projects as requested by the Senior Director of Credit.

• Develop relationships with relevant community and organizational partners.

• Engage in professional development to enhance skills and knowledge.

• Other duties as assigned.

Requirements

Ideal qualifications

• 3+ years of experience documenting commercial loans in a lending environment, preferably in the fields of community development, nonprofit community facilities or affordable housing. Experience with New Markets Tax Credits, Low Income Housing Tax Credits or other state or federal loan programs a plus.

• Passion for the organization’s mission and commitment to advancing its goals in the community development sector.

• Experience working in databases (Salesforce preferred) and proficiency in Microsoft Office and Google Suites.

• Ability to build relationships with internal and external stakeholders, including ability to build trust and elicit confidence from Community Vision’s borrowers.

• Ability to manage detail-oriented closing processes following organizational policies and procedures while simultaneously adapting to the unique nature of each transaction.

• Ability to stay organized and multi-task while maintaining a high degree of accuracy.

• Excellent written and verbal communication skills with a knack for customer service, and sound judgment and decision-making abilities.

• Lived experience in, working with, or organizing in the communities and geographies Community Vision serves, including counties outside of the Bay Area; knowledge of the Central Valley is especially desirable.

Compensation and Benefits

The Loan Closing Administrator is a full-time exempt position. This position reports to the Senior Director of Credit. The salary for this position is between $94,780 – $107,705 annually, depending on experience. Benefits include: comprehensive health and wellness package with 100% employer-paid insurance premiums for employees and a generous contribution towards dependent coverage; robust long-term disability and life insurance coverage; technology subsidy; valuable employer contributions to retirement savings; more than three weeks’ vacation to start (with longevity increases); access to and financial support of professional development; and, a demonstrated commitment to work/life balance.

The position will be based at either of Community Vision’s offices in San Francisco or Oakland, with flexibility for hybrid work. Some travel during and outside of business hours within the geographies Community Vision serves or for business-related events is to be expected as part of this role. The position requires regular computer and telephone use plus some minimal lifting.

How to Apply

Apply online through Community Vision’s Career Center. Cover letters should be included and should discuss your interest in the position and in working at Community Vision. Incomplete applications without a cover letter will not be considered.  Position will remain open until filled. For more information on our programs and services, please visit our website at: communityvisionca.org.

Community Vision is an equal opportunity employer and is committed to providing applicants and employees with a diverse, equitable and inclusive environment free of discrimination and harassment. All employment decisions at Community Vision are based on business needs, job requirements and individual qualifications, without regard to age, ancestry, color, disability (mental and physical), exercising the right to family care and medical leave, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, political affiliation, race, religious creed, sex (includes pregnancy, childbirth, breastfeeding and related medical conditions), sexual orientation, or any other status protected by the laws or regulations where we operate. Community Vision will not tolerate discrimination or harassment based on any of these characteristics and encourages applicants with these characteristics to apply.

For positions based in San Francisco, pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.