Commercial Mortgage Loan Closing Law Clerk – In House 120K Permanent

Fabulous mortgage lending company is growing! This exciting and entrepreneurial organization is seeking a commercial mortgage loan closing clerk to join their team. Applicants must have a minimum of 3 years’ hands on experience working with commercial real estate and experience relating to funding loans on commercial properties located nationally and across all asset classes.

The Role:

• Prepare and negotiate letters of intent/commitment letters in compliance with credit requirements
• Understand, negotiate, and assist with drafting of loan documents including intercreditor and syndication documents, postponement and priority agreements, and other related legal documents
• Engage service providers to complete property and legal due diligence
• Prepare introductory letters to borrowers with checklists and due diligence documents
• Review tenant estoppel and related documents
• Provide support to borrowers and originators/underwriters by initiating requests for information and documentation concerning the closing of each loan file
• Work closely with borrowers on closing their mortgage loan
• Work with all third-party service providers to facilitate each loan closing file
• Review loan documents and legal due diligence packages
• Receive and forward insurance policies for review by insurance consultant
• Complete anti-money laundering due diligence and documentation
• Work 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
• Reviewing and/or preparing closing documents and providing instructions to legal counsel in negotiation of loan documents
• Review documentation to ensure that conditions are cleared to close
• Prepare and balance closing numbers, requisitioning funds and arranging funding wires
• Check that disclosure tolerances are within guidelines and assure that all procedures meet internal and investor requirements as well as compliance to all regulatory and governmental agencies
• Reconciliation of mortgage loan files

Skills/ Experience Required:

• 3+ years of experience working closely with commercial mortgages with a lender or a law firm
• Extremely organized
• A client-service mindset
• Excellent communication skills – written and verbal in English
• Be a graduate of a law clerk program
• Must have computer skills in Microsoft suite
• Basic accounting knowledge
• Knowledge of syndicated loans and FSRA disclosure requirements is considered an asset
• Knowledge of intercreditor agreements and understanding priority clauses is considered an asset