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Transaction Loan Closer - Affordable Housing Lending

Salary
$75,000-$99,999
Employment
Full Time
Real Estate Field
Location
Los Angeles
 CA
Postal Code
90071
Country
United States

This job is no longer active.

Description



The professionals at Greenwich Street Community Capital (“GSCC”), a dedicated subsidiary of Situs Group, underwrite and close construction and permanent loans that are used to finance the new construction and preservation of affordable and workforce rental housing for Citi Community Capital (“CCC”), the community lending and investing arm of Citigroup.  Employees of GSCC are fully integrated with Citi employees at Citi locations.

 

 

CCC works with for-profit and non-profit developers, as well as state and local government agencies on both straightforward and highly structured transactions.  The projects we finance serve the homeless, seniors, those with disabilities, as well as low income families and individuals.  They may also include workforce housing or market rate units and other commercial uses.  We are among the largest Fannie Mae and Freddie Mac mortgage bankers in this sector in addition to being a balance sheet lender.

 

 

We work throughout the country from 13 offices and, according to Affordable Housing Finance Magazine, have been the #1 affordable housing lender in the United States in each of the past ten years.  That success is due in large part to having the strongest, most innovative team of professionals in the country.

 

 

CCC is looking to add a new professional to the Transaction Management team.  As a member of the Transaction Management team, you will play an integral part in ensuring the complete and timely closing of new construction loans from end to end.   Once a loan is under application, you will work alongside the Production and Underwriting teams and interface directly with the project sponsor / borrower, other lenders in the deal, and third party vendors / outside counsels to ensure the loan is properly approved and all items on the closing checklist are completed.  You will be the primary person to ensure the loan will be ready to close on the assigned date, and will organize deal team meetings to discuss timelines, flow of funds and equity partners on the deal.  You will also coordinate with Asset Management and Servicing in transitioning the loan over to those teams and making sure it is properly recorded across all systems. 

 

This role is well-suited to candidates who thrive in a fast-paced environment with several moving parts, who are interested to have exposure to the full lifeline of a loan, and who enjoy coordinating across various deal team members, clients/borrowers and other third parties. 

 

Job responsibilities:

  • Work closely with the project sponsor/borrower and deal team members from Underwriting, Construction Risk, Legal Counsel and other teams throughout the closing and approval process.
  • Organize and host deal team meetings to discuss timeline, funds flow, and equity partners on the deal.
  • Coordinate Due Diligence calls with Client to discuss progress of the due diligence process and ensure underwriting requirements have been met, and other conditions are satisfied prior to closing. 
  • Review deal summary and legal documents to ensure the risk profile and deal structure are captured across all systems to allow for accurate financial and business reporting.
  • Prepare closing settlement statement, review closing costs, coordinate with Operations to set up funding, and complete delivery package for post-closing servicing.

  

Required Skills:

 

  • Candidate is required to have a BA/BS.  A minimum of 3 years’ experience in real estate industry/loan administration or equivalent role is preferred.  Previous closing experience with affordable multifamily deals preferred.
  • Individual must have excellent communication, organizational and interpersonal skills, and ability to multi-task and work effectively under tight deadlines.
  • Energetic individual who shows initiatives, is a team player, and has a positive attitude to change.   
  • Ease with learning new systems/applications required.   Demonstrates good excel skills, Quick learner and ability to work with minimal direct supervision.
  • Highly-effective influencing skills; the ability to be coordinate internal meetings with several parties (Underwriting, Legal, Compliance, Risk, etc.) to gather information and meet conversion conditions
  • Knowledge of commercial real estate legal documentation is a plus.

 

 

 

 

 

 

About SitusAMC

SitusAMC is the leading provider of consulting, outsourcing, talent and technology solutions, supporting institutional lenders and investors, across the life cycle of commercial and residential real estate debt and equity. The firm employs more than 3,300 employees with offices in 27 markets across the U.S., Europe and APAC.

 

SitusAMC brings together the industry’s top talent, unparalleled platform and innovative technologies to help clients optimize returns, identify risk, transform processes and infrastructure, and ultimately, realize opportunities in their businesses.

 

This Employer Participates in E- Verify.

 

EOE/M/F/D/V

 

 

 

Job Sector


Not specified

 

Experience


2+ to 5 years


This job is no longer active.

Finance / Investment Los Angeles Full Time CA Construction, Investment Banking, Transaction Analyst or Associate other