Loan Closer - ACORE Capital Mortgage

February 28, 2018
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ACORE Capital Mortgage

Dallas, Texas 75225

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/Transaction Manager for its Dallas office to close bridge and construction loans secured by commercial real estate.  Qualified applicants will have a min. 3 years’ experience in commercial real estate finance either as a loan closer or in a related capacity such as a paralegal or asset management, and have working knowledge of commercial real estate finance terminology, loan documentation and loan settlement processes.  We seek a candidate with great attention to detail, excel modeling competency, and ability to manage multiple transactions simultaneously with accuracy and with limited supervision.  Salary and bonus are determined by experience and performance. 

Key Responsibilities:

  • Create and maintain the Deal Contact List
  • Participate in all pertinent conference calls related to the loan transaction
  • Review the Greenlight Memo and Investment Committee Memo for comprehension of the deal and structure
  • Verify that KYC forms and background checks were obtained on appropriate parties
  • Verify insurance is in place at closing (review of the insurance consultant’s report and insurance certificates)
  • Establish Clearing and Cash Management Accounts
  • Prepare and distribute Investor Capital Call Notices and Funding Instructions to Investor Clients, ACORE Operations and Accounting
  • Confirm Loan Approvals
  • Calculate loan escrows and reserves
  • Confirm that loan satisfies approved leverage (LTC / LTV) and funding conditions
  • Prepare the Loan Settlement Statement; coordinate with Title/Escrow to ensure their settlement statement accounts for all note amounts and charges
  • Work with the Banking Team to finalize the Development/Rehab Budget Exhibit to the Loan Agreement to account for disbursements made at Closing and verified equity
  • Verify Escrow’s receipt of Borrower funds necessary to close
  • Review key loan documents for accuracy of loan terms, note splits, loan escrows, reserves, future loan advance conditions and guarantor financial covenants
  • Review Interest Rate Cap Bid package for compliance to Company policy, accuracy of notional amount or advance schedule, strike rate and term
  • Manage timely loan document delivery to the Custodian, Loan Servicer, Investor Clients, and Outsourced Loan Boarding Consultants
  • Manage the Deal Set Up in Backshop for transition of the deal to Loan Servicing and Asset Management. This involves review of data entry performed by third party consultants for accuracy
  • As the Department is re-organized, duties may be expanded to include: (i) ordering of third party reports, follow up of reports delivery and invoices; (ii) preparation and collection of KYC Credit Forms and ordering of background check reports; (iii)  coordination of insurance consultant’s review of the insurance provision in the Loan Agreement
  • 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 OR paralegal experience working with commercial real estate finance
  • Working knowledge of commercial real estate finance 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 procedures, have an entrepreneurial spirit and work independently with limited supervision