Loan Closer - ACORE Capital Mortgage

October 18, 2017
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ACORE Capital Mortgage

Dallas, Texas 75225
http://www.acorecapital.com

ACORE Capital

ACORE Capital is an independent commercial real estate finance company. We originate, acquire and manage first mortgage loans, B-notes, mezzanine debt and preferred equity throughout the U.S.

Our management team brings deep industry relationships, unparalleled real estate debt investment experience and access to broad-based deal flow. The team is led by commercial real estate finance veterans Boyd Fellows, Stew Ward, Chris Tokarski and Warren de Haan, who built and ran the commercial real estate lending activities at Starwood Property Trust, Countrywide Financial Corporation and Nomura Securities International Inc. During their 20-year partnership, this team has closed more than 4,000 commercial real estate loans totaling more than $40 billion.

Loan Closer

ACORE Capital seeks a Loan Closer for its Dallas office to close complex bridge and construction loans secured by commercial real estate, which may include mezzanine debt and preferred equity.   Qualified applicants will have a minimum of 3 years’ experience, meticulous attention to detail, excel modeling competency, and ability to manage multiple transactions simultaneously with accuracy and limited supervision.

Key Responsibilities:

  • Create and maintain the Deal Contact List
  • Participate in all pertinent conference calls related to the loan transaction
  • Order third party reports and follow up for delivery of reports and invoices
  • Review Borrower Organization Chart for completeness; prepare, distribute and collect all KYC Credit Forms and order OFAC/background searches and credit reports in accordance with Company policy
  • Order and review the insurance consultant’s report and insurance certificates; follow up for the consultant’s review and mark-up of the insurance provision in the Loan Agreement
  • Track loan expenses against the application deposit; coordinate for collection of required additional borrower funds with the Banking Team
  • Establish Clearing and Cash Management Accounts
  • Prepare and distribute Investor Capital Call Notices and Funding Instructions to Investors, ACORE Operations and Accounting
  • Confirm Loan Approvals
  • Calculate loan escrows and reserves
  • Prepare the Loan Settlement Statement; coordinate with Title/Escrow to ensure their settlement statement accounts for all note amounts and charges
  • Review key loan documents for accuracy of loan terms, note splits, loan escrows and reserves
  • Review Interest Rate Cap Bid package for compliance to Company policy, accuracy of notional amount or advance schedule, strike rate and term
  • Verify Escrow’s receipt of funds necessary to close
  • Follow up on Loan Documents delivery from Outside Closing Counsel to the Custodian, with copies to Asset Management, Loan Servicing, and the Investor.  Upload due diligence and applicable internal documents to documentation war rooms used to transition documents to Investors and Loan Servicer.
  • Manage the Deal Set Up in Backshop for transition of the deal to Asset Management. This involves reviewing accuracy of data entry by third party contractors
  • Review the Greenlight Memo and Investment Committee Memo for comprehension of the deal and structure
  • Perform other job-related duties as assigned

 

Job Qualifications:

  • Minimum 3 years’ experience closing complex bridge, construction and/or mezzanine loans on commercial real estate
  • Working knowledge of complex commercial real estate financing terminology, concepts, and structure
  • Strong organizational skills to handle multiple transactions simultaneously with accuracy 
  • Strong oral and written communication skills to act as liaison between escrow, closing counsels, borrower, banking teams, investors, and accounting to coordinate closing and funding
  • Meticulous attention to detail
  • Excel and Word proficiency
  • Ability to adapt to changes in policy and procedure, have an entrepreneurial spirit and work independently with limited supervision