Commercial Loan Closer

The Network for Oregon Affordable Housing (NOAH) is a nonprofit community development financial institution (CDFI) that provides financing for the development and preservation of affordable housing throughout Oregon. Formed in 1990 to increase the supply of safe, healthy, and stable housing, NOAH now administers over $400 million of loan capital through a growing array of loan programs to support the preservation and development of new affordable housing.

Since its founding, NOAH has steadily served as one of the leading affordable housing lenders in Oregon. NOAH plays a unique role in the industry and our lending blends strong fundamental lending practices with the opportunity to apply creative solutions to customer challenges. In addition to lending, NOAH actively engages in advocacy and policy work in Oregon and nationally. We bring passion to our work because we understand that access to safe, healthy and affordable housing is the path to stability and opportunity. NOAH is further committed to using our platform to address racial justice and social equity.

NOAH serves diverse populations and seeks candidates who reflect our communities including people of color, veterans, and people with disabilities.

Applicants with a range of work history and lived experience are invited to apply.

Position Summary:

The Loan Closer is responsible for managing the loan process from commitment to loan funding, in collaboration with the Relationship Manager. This position requires working knowledge of real estate documentation and the ability manage multiple transactions at one time.

Essential Responsibilities:

Coordinate loan closing with Borrower, Relationship Manager, legal counsel, Construction Lender and Title Company.

Review commitment letter and loan documentation encompassing the terms in the Loan Request and negotiated changes, in collaboration with the Relationship Manager and legal counsel.

Maintain electronic files and document checklists in collaboration with Relationship Manager.

Respond to Borrower's request to modify NOAH's loan documents, consulting the Relationship Manager and legal counsel as warranted.

Review subsidy documents in collaboration with the Relationship Manager and legal counsel for compliance with NOAH requirements.

Support counsel and the Relationship Manager in review of title reports and surveys.

Calculate property tax and insurance reserves, and coordinate set up of bank accounts for replacements reserves and operating reserves with Agent Bank.

Prepare internal documents for funding and database entry.

Prepare funding notice and coordinate funding with Agent Bank.

Prepare or assist in the preparation of escrow instructions to ensure all funding requirements are satisfied prior to release of NOAH's loan funds.

Prepare packages for distribution to Member Banks.

Review final title policies to ensure consistency with underwriting, if necessary. Follow-up on post-closing items to ensure completion of electronic file.

Participate in new product development.

Prepare NOAH Agent Bank documents and coordinate funding as Agent Bank on certain acquisition loans.

Review monthly reports submitted by Agent Bank to confirm funding amounts and interest rates.

Provide support to legal counsel and staff for documentation of restructures, assumptions, paydowns, general partner and limited partner transfers, and other such loan modifications.

Assist in the sale of loans from time to time. Participate in file review for credit exams. Performs other tasks as assigned.

Qualifications and Skills:

Approximately 2-5 years loan closing, paralegal and/or real estate experience preferred.

Bachelor's degree or equivalent lived experience, preferably in finance, commercial real estate, or a related field.

Organizational skills and ability to coordinate complex activities, prioritize conflicting demands, and meet deadlines.

Working knowledge of Outlook, Word, Excel, and Access.

Value-Add Qualities and Skills:

Strong desire and ability to learn complex financial structures. Construction lending experience

Passionate about working to end houselessness and the housing affordability crisis in our State.

Able to work both independently and in a team.

Ability to solve problems and communicate effectively in writing and orally. Strong customer service orientation.

Compensation and Benefits:

100% of the employee's coverage of all insurance benefits. Coverage for dependents is available at the cost of the employee.

401(k) with a 4% match and the potential for additional matching.

Paid family leave.

Potential for annual bonus compensation.

Generous vacation and sick leave.