Work with Originators and Underwriters to understand each transaction and make sure all relevant documentation is obtained for a timely closing
Coordinate any pre-closing requirements with internal and external clients (Originators, Underwriters, Borrowers, Counsel)
Review complex loan documents, initiate and drive deal closing calls that include internal and external deal team members and counsel
Ensure documentation accurately reflects the terms outlined in the Investment Committee credit approval
Ensure transactions are closed in compliance with loan policy and any additional credit committee requirements
Manage the ongoing review of loan covenants for each transaction by registering due dates in the system/collecting evidence from customers of compliance when needed
Coordinate with Servicer the maintenance of accurate records with respect to each mortgaged property reflecting the status of taxes, assessments, lien releases and other similar items that may become a lien as well as the status of insurance premiums, ground lease payments where applicable etc.
Coordinate with Servicer the establishment and maintaining of escrow accounts subject to terms of the loan documents which will include but not be limited to RE taxes, insurance premiums, interest reserves, tenant improvements etc. Manage disbursements from the escrow account and ensure eligibility for each disbursement pursuant to loan documents
Process loan payments, advances, prepare payoff demand statements and other requests for payoff information
Communicate to team and coordinate any borrower requests for modifications, waivers and amendments to the original terms of the loan agreement.
Establish and maintain lock box arrangements. Ensure that lock box accounts are established in a timely fashion in coordination with any loan closing requiring such as a condition to closing
Coordinate with Servicer the preparation and processing of all customer billing and statements
Be in contact with each borrower on at least a monthly basis to remind them of upcoming interest payments; understand any issues; receive updates on leasing activity etc.
Review and process for approval construction draw schedules and coordinate the funding of same
Coordinate uploading of information to internal systems for use by other VCREF affiliates
Coordinate with appropriate VCREF affiliates and Custodian, the delivery of applicable documentation and review custodial reports
Coordinate with appropriate VCREF affiliates any documentation required by financing counterparties
Other related duties which may be assigned by Co-Presidents
Minimum of three-years of experience with knowledge of real estate finance
Proficient computer skills including Microsoft Word and Excel
Knowledge of real estate loan documentation
Effective oral, written and interpersonal communication skills