Loan Closing Specialist
Company: Community Vision Capital & Consulting
Location: San Francisco, CA
Job Function: Lending/Loan Operations
Background
Communities on the margins of opportunity deserve a trusted partner on their journey toward financial growth and stability. As a locally invested, collaborative partner in social justice and financial equity, Community Vision provides nonprofits, small businesses, and social enterprises with strategic investment and guidance, to deepen work, scale impact, and strengthen our communities. We know that supporting community-owned and community-governed projects creates shared prosperity and builds collective, and self-directed, economic and political power. This position will put you at the forefront of exciting organizational growth and the re-envisioning of how we carry out our work; creating greater efficiency internally and deeper impact externally. Community Vision is dedicated to anti-racist practices and to building an anti-racist organization. This includes treating colleagues with respect, supporting the vision of the organization, and acting as ambassadors of our values.
Summary
The Loan Closing Specialist is responsible for ensuring all loans are closed and documented
in accordance with Community Vision’s credit policies and guidelines. This staff member is
responsible for working with outside counsel to prepare legal documents, performing appropriate due diligence tasks, and ensuring conditions precedent are met prior to closing or funding a loan. This individual will work entirely with commercial loan transactions including real estate construction, redevelopment, and term loans, as well as lines of credit and other commercial loans. The Loan Closing Specialist must possess strong verbal and written communication skills in order to interact efficiently and effectively with internal staff, legal counsel, and clients. They will have knowledge of federal and state regulations, loan documentation terms and conditions including credit agreements, notes, guarantees, and collateral. You must act as a gatekeeper for certain compliance and reporting requirements.
Responsibilities
● Interface with internal and external parties, including staff, borrower, closing
attorney, and title company proactively to ensure loans are closed timely.
● Manage and communicate transaction timelines to internal and external partners to
verify all appropriate deadlines are being met.
● Perform pre-and post-closing functions including managing closing checklists to ensure
that closing counsel has received all required documents to review and close the loan.
● Review draft loan documentation, legal descriptions, preliminary title reports, and
insurance documentation to verify the accuracy of terms and collateral information.
● Transmit loan information and documentation to appropriate internal parties.
● Review loan settlement statements prepared by the escrow agent for accuracy.
● Inform staff borrower, and other parties informed of potential problems or delays.
● Work on projects and team initiatives as requested.
● Ensure proper internal handoff and transition of responsibilities in a timely
manner.
● Communicate with Borrowers and serve as one of the primary points of contact for
loan closing and disbursements.
● Review title reports, escrow instructions, surveys, appraisals, environmental reports,
property condition reports, insurance, and other documents, ensuring compliance with
loan closing requirements and loan policies
● Ensure accurate, well-organized electronic loan files through loan closing and
disbursement, maintaining an audit trail of all closing and monitoring documents and
materials.
● Maintain a working knowledge of loan policies and protocols as implemented and/or
updated.
● Maintains the internal loan tracking system in a Salesforce database.
● Collaborate with department colleagues to support monitoring and compliance
assignments as required.
● Assist or lead ad-hoc projects as assigned that may include industry research, product
development, operational efficiency, compliance and reporting systems protocol, social
impact tracking development, funding applications, or policy analysis
● Work collaboratively with other departments to manage information, reporting, and
document preparation for various internal and external needs, funding requests, and
compliance with investor covenants
Requirements
● 4+ years of experience documenting commercial loans preferably in the fields of
community development or affordable housing.
● Experience with New Markets Tax Credits, Low-Income Housing Tax Credits, or other state
or federal loan programs a plus.
● Understanding of and experience with one of our key areas of affordable housing
or nonprofit community facilities lending desired
● Database skills (e.g. Salesforce) with a demonstrated proficiency in MS Office and
Google Suites
● Ability to build relationships internally and externally and elicit confidence by
demonstrating reliability and commitment to Community Vision’s mission and values.
● Knowledge of and experience working with nonprofit community-based organizations is
desired.
● Demonstrated ability to consistently multi-task and manage a varied and occasionally
intense workload while maintaining a high degree of accuracy
● A high level of attention to detail and excellent judgment and decision-making abilities
● Excellent written and verbal communication and organizational skills
Compensation and Benefits
The Loan Closing Specialist is a full-time exempt position. This position reports to the Director of Lending. The salary for this position is between $91,500 – $116,500 annually, depending on experience. Benefits include 100% health insurance premium coverage for employees and a contribution towards dependent coverage, dental insurance, long-term disability, and life insurance, transportation, and cell phone subsidies, employer contributions towards retirement savings, three weeks’ vacation, and a commitment to work/life balance.
Occasional evenings and out-of-area travel may be necessary. The position involves regular
computer and telephone use plus some minimal lifting. The position can be based at either of
Community Vision’s offices in San Francisco or Oakland. All staff are working on a hybrid basis until further notice.
How to Apply
Please apply via the Community Vision Career Center at ADP HERE. Please include a resume
and cover letter. Incomplete applications without a cover letter will not be considered. Cover letters should discuss your interest in the position and in working at Community Vision. The position will remain open until filled. For more information on our programs and services, please visit our website at: communityvisionca.org.