Multifamily Loan Processor/Closer
Saint Paul, MN Merchants Capital
Job Type

Please note this position can report to our regional offices in either New York, NY or St. Paul, MN or at our HQ in Carmel, IN.

Summary: The primary role of the Multifamily Loan Processor/Closer is to coordinate due diligence collection, processing, and closing of multifamily projects through the bank platform. The qualified candidate must be able to effectively communicate with third party vendors, borrowers, counsel, title companies and internal personnel. The candidate must also be able to multitask, prioritize and keep projects on strict timelines to meet appropriate benchmarks and approvals to close the loans on time.

Essential Duties and Responsibilities:

  • Participate in kick-off call with both internal team members and borrower to gain understanding of transaction at onset of process
  • Order, track and maintain third party reports
  • Create signature documents, both internal and external (i.e.; forms, application, invoices, engagement letters, etc.)
  • Request, retrieve, and track due diligence documents from the client via Outlook and/or file-sharing system
  • Expert for all applicable loan policies and procedures both internally and required by federal banking requirements
  • Answer client questions that may arise during processing and closing of the bank loan
  • Submit and track insurance review with internal and external staff to ensure compliance with bank requirements
  • Coordinate with title companies to prepare settlement statements for closing
  • Keep all internal reporting systems up to date for pipeline tracking and reports
  • Complete other duties as deemed necessary

  • 3 to 5 years of experience in a real estate related field – multifamily/commercial/single-family, development, Title, and/or paralegal background is preferred
  • Strong preference to previous real estate experience in LIHTC, Bank, FHA HUD, and Agency fields
  • Strong organizational skills with attention to detail
  • Possess the initiative to work in an independent and reliable manner, and ability to work closely with other internal departments to process and close a loan in a timely manner
  • Strong customer service skills in person, via electronic communication and phone
  • Proficient in Microsoft Word, Excel, Outlook and database management
  • Requires critical thinking skills and multitasking
  • Preference to candidates with educational or work experience in relation to finance, real estate or associated fields, but candidates with strong organizational skills who are detail-oriented and eager to learn are encouraged to apply
  • Strong preference to previous real estate experience (single-family or multifamily) and/or LIHTC, Bank, FHA HUD, and Agency experience

All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee’s primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.

Additionally, all employees are expected to demonstrate the following Core Competencies:

Professionalism – acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.

Communication – understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.

Work Quality – demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.

Analytical Ability – navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.

Leadership – displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.

Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job’s relevant industries.