Commercial Loan Closer – Los Angeles

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  • Create Date March 8, 2022
  • Last Updated March 8, 2022

Commercial Loan Closer - Los Angeles

We are seeking someone with interest and/or experience closing loans for life insurance companies, CMBS or Bank lenders. This person may have experience in title/escrow, as a real estate paralegal or as an underwriter. In this role you will be responsible for managing the 3rd party reports (Appraisal, Phase I, PCA, PML, Survey and Zoning), title, legal searches, estoppels, SNDA’s, and entity documents. The position will be working with an experienced Loan Closer and a close-knit team of Senior Loan Officers.

At PSRS, the Commercial Loan Closer will provide support to a high performing origination team by coordinating all activities from loan approval through loan closing. They will be working on 5-6 transactions per month and must work under minimal supervision.  The ideal candidate will have strong organizational and analytical skills and be an effective problem-solver.

 Responsibilities:

  • Develop and maintain detailed checklists and timeline for each transaction file
  • Review loan applications
  • Coordinate loan requirements with third party vendors, attorneys, and escrow companies
  • Order credit reports
  • Obtain zoning letters and certificates of occupancy
  • Gather and submit to lender all closing items/documentation
  • Compile invoices and wiring instructions for payment by escrow
  • Complete estoppels and subordination agreements
  • Coordinate loan documents and signing
  • Day to day communications with borrower, lender, attorneys, title and escrow officers, and report writers on any closing items, changes, and due dates throughout the closing process
  • Gather loan documentation post-closing and submit closing file to Servicing Department and to the borrower
  • Maintain and update loan data spreadsheets
  • Perform other reasonably related business duties assigned by a supervisor

 Qualifications:

  •  3+ years, senior-level administrative support
  • Junior college or equivalent work experience
  • Able to work independently or as part of a team
  • Able to communicate in a professional and courteous manner in person, over the phone and via written correspondence
  • Detail oriented
  • Maintain a high level of confidentiality and exercise independent judgement and analysis
  • Escrow or title experience is a plus
  • Commercial real estate experience is a plus
  • Notary Public is a plus

Skills/Software:

  • Advanced computer skills (typing, scanning, printing)
  • Internet research
  • Microsoft Word and Excel
  • Adobe Acrobat
  • Must be a quick learner!
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