The GSE Senior Closer (Multifamily) must be knowledgeable of the various investor programs and loan products offered by Merchants Capital (MCC), which include Fannie Mae DUS program, Freddie Mac Program Plus, and Freddie Mac TAH. The incumbent proactively coordinates, integrates, and supports all aspects of GSE multifamily loan process with a special focus on MCC loan commitment, the rate/spread lock, funding/closing, and purchase/settlement by the respective GSE for each Freddie Mac or Fannie Mae loan closed by MCC. The GSE Senior Closer is responsible for coordinating pre-closing, closing, and post-closing issues among Underwriting, Merchants Capital’s Outside Legal Counsel, Origination, Servicing, Borrower, Borrower’s Counsel, and Freddie Mac or Fannie Mae (as applicable).
Essential Duties and Responsibilities:
- Support timely, accurate processing of mortgage loans from engagement to delivery while ensuring that mortgage loans meet applicable loan policies and procedures both internally and required by Agency Guide’s
- Engage Merchants Capital Legal Counsel for a given transaction and act as primarily Legal Counsel contact
- Work closely with all members of the deal team (Origination, Underwriting, Legal, Borrower and Borrower’s Counsel) and other departments (i.e. Servicing and Asset Management, Accounting, Title Company, Fannie Mae/Freddie Mac, etc.) as appropriate to identify and resolve issues as early as possible
- Assist Origination & Underwriting in clearing stipulations required by loan committee or Agency program (as/if applicable).
- Maintain ‘Pipeline” report(s)
- Prepare Commitments, coordinate lock and for Fannie loans, and prepare and submit the C&D Commitment
- Prepare Closing Workbook for each transaction to generate accounting and servicing information, produce notices and other internal Merchants Capital Documents
- Review and approve Title Company Settlements for accuracy to ensure Merchants Capital fees, expenses and escrows are correct
- Coordinate all aspects of loan closings which includes providing outside counsel with timely receipt of required closing documents, working closely with counsel to prepare and review all necessary loan documents, and obtaining all necessary documentation for the completion of a closing statement
- Arrange loan fundings
- Coordinate all loan delivery packages with both the Underwriting team and outside counsel, as applicable, to the respective agency
- Work directly with the various Agencies to securitize and provide necessary closing documentation post-closing to finalize the mortgage-backed security to the investor, as applicable
- Deliver the permanent loan files to servicing and asset management departments
- Ability to travel to closings, as required (limited)
- 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 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.
- Two-Year College Degree or 2 years real estate lending or closing specific experience preferred
- Educational or work experience in relation to loan closing in finance, real estate, Title, or associated fields preferred.
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.