Summary: The Commercial Loan Processor/Closer must be knowledgeable of the various investor programs and loan products offered by Merchants Capital, which include traditional Bank financing, Fannie Mae DUS program, Freddie Mac Program Plus and Freddie Mac TAH, and FHA HUD/RHS.  The Commercial Loan Processor/Closer will be held accountable and responsible for the compliance of the respective program guide requirements. The position’s primary focus will be on bank loans originated by Merchants Capital, but the responsibilities could also include working with Fannie Mae, Freddie Mac or HUD products.

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, & maintain 3rd party reports;
• Create signature documents, both internal & 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 Agency Guide’s, as applicable;
• Assist origination & underwriting in clearing stipulations required by loan committee or Agency program (as/if applicable);
• Answer client questions that may arise during the loan process;
• Coordinate and prepare loan application packages with Underwriting team for submission for approval;
• Submit and track insurance review with internal and external staff to ensure compliance with Bank and/or Agency requirements;
• Maintain accurate QC/HMDA folders;
• Maintain ‘Pipeline” report(s);
• Coordinate with the Bank’s legal representatives to schedule loan closings, while collecting required items needed for closing from the Borrower, Bank, or Legal Team;
• Organize weekly closing calls with borrower and counsel, as needed;
• Create Settlement Statements for closing and oversee the contribution of equity, loan disbursements, and third-party payments;
• Coordinate all aspects of loan closings including but not limited to the following:
  • Provide outside counsel with timely receipt of required closing documents
  • Work closely with counsel to prepare and review all necessary loan documents;
  • Review title and survey comments prepared by counsel and follow up if required; and
  • Obtain all necessary documentation for the completion of a closing statement as well as obtain backup documentation for the processing of an initial draw for construction transactions.
• Arrange loan funding which includes ordering of warehouse funds from appropriate warehouse lender;
• Review and track all Lender and Investor commitments, as applicable;
• Issue loan commitments and confirmations, as applicable;
• Coordinate all loan delivery packages with both Underwriting team and outside counsel, as applicable;
• 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 permanent loan files to servicing, construction servicing and asset management departments. Complete other duties as deemed necessary;
• Ability to travel to closings, as required;
• Complete other duties as deemed necessary.

Expected Experience, Skills and Education:

• 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 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.
• Teamwork and collaborative focused with a positive attitude focused on responsibility and integrity.
• Committed to conducting business in a manner that reflects favorably at all times on the good name, goodwill and reputation of Merchants Capital.

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.  

The Commercial Loan Processor/Closer position is a full-time, exempt position.  Qualified applicants may submit their resume online.  

Apply Online

Summary: The Multifamily Credit Analyst position is focused in the commercial finance industry through a fast-paced deal driven environment. The position will be assigned analysis tasks geared toward underwriting and presenting the best financing options for commercial borrowers. The analyst will work closely with sales staff, borrowers, and senior management to meet the financial needs of customers while diligently protecting the bank’s capital.

The ideal candidate will have brief but relevant experience combined with relevant formal education. Successful incumbents will find multiple internal career paths as a result of this position.

This position is physically located at our Chicago, Illinois office and will report directly to the Senior Underwriter position.

Essential Duties and Responsibilities:

• Analyze credit data, tax returns and financial statements to determine the degree of risk involved in extending credit or lending money.
• Generate financial ratios and trend analyses using computer programs to evaluate customers’ financial status and payback ability.
• Prepare reports including credit analyses and summaries of loan requests, and timely submit to loan committees for approval.
• Assist the management of the loan portfolio in regard to loan covenants, reporting requirements and delinquencies.
• Work with sales staff to manage renewal and modification requests as needed.
• Visit with prospective and current bank clients in conjunction with sales staff both inside and outside the bank.

Knowledge, Skills, Abilities and Experience:

• Requires a bachelor’s degree in finance or related field of study from an accredited institution.
• Must have professional work experience in a closely-related role for a minimum of one year.
• Candidates must demonstrate organizational and successful critical thinking skills as well as acute attention to detail.
• Requires the ability to successfully multitask and perform accurate, timely work with multiple priorities and deadlines.
• Must demonstrate strong customer service skills and/or interpersonal and communication skills.
• Requires a demonstrated working knowledge of Microsoft Excel, Word and Outlook at an advanced level.
• 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.

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.

The Multifamily Credit Analyst position is a full-time, exempt position.  Qualified applicants may submit their resume online.  

Apply Online

Summary: This is an intermediate, client facing position designed to work closely within the Origination group in vetting opportunities by completing preliminary underwriting and determining the best use of company lending platforms. The Transaction Manager will be responsible for efficiently moving loan transactions from preliminary underwriting through closing as well as streamlining the client interaction process by minimizing client touch points and providing excellent customer service through accurate and timely communication. The Transaction Manager is an individual contributor role with no people development responsibilities. The Transaction Manager will have limited, generally supervised, customer contact.

Expected Outcomes: A successful Transaction Manager will perform accurate initial underwriting and loan sizing analyses that properly capitalize on a project’s financial strengths and mitigate weaknesses. Success will be marked by timely work and deadline adherence. Transaction Managers who can work independently as well as part of the Origination and Underwriting teams and are able to learn from each experience will recognize excellent growth paths toward other positions in the organization. A successful Transaction Manager will possess technical understanding of the multifamily loan process and an experienced understanding of multifamily loan underwriting.

Essential Duties and Responsibilities:

• Perform preliminary underwriting to accurately size lending transactions by working with HUD, GSE, and MBI credit teams.
• Analyze financial statements and reports related to the transaction, such as historical & pro forma property operating statements, rent rolls, sources and uses, real estate owned schedules, appraisals, and project capital needs assessments.
• Streamline communication for accurate and timely client interaction.
• Oversee loan from Application through Closing.
• Support and Assist Originators throughout transaction process.
• Develop client relationships.
• Prepare term sheets for review and approval by MBI along with assisting in preparation of HUD & GSE Engagement Letters.
• Composition and analysis of HUD Concept Packages, GSE Soft Quotes, & GSE Pre-Screens.
• Review 3rd party reports and communicate any issues.
• Lead due diligence process with clients and internal company processors.
• Continuing education on MBI, HUD, RD, FHLMC & FNMA program developments, loan policies, and guidelines.
• Attend training on applicable subjects when available and appropriate for position.
• Responsible for medium- to long-term recurring tasks.
• Not required to develop others.
• Typical scope of interactions will be exchanging basic technical information with colleagues, clients, and customers.
• Responsible for meeting certain ambiguous demands and influencing less experienced colleagues.

Expected Experience, Skills and Education:

• Requires a bachelor’s degree from an accredited institution, preferably with a focus in finance or commercial real estate.
• Requires 2 years of multifamily loan underwriting experience.
• Requires proficiency with Microsoft Office, with emphasis on Excel and Word.
• Must demonstrate excellent communication, analytical, interpersonal, and organizational skills.
• Must be self-sufficient with project/timeline management skills; accuracy and attention to details; and the ability to adapt in an entrepreneurial business environment.
• Must be able to work well under pressure and have the ability to prioritize work to meet deadlines in a fast-paced environment.
• Requires occasional travel for property inspections, loan closings, training opportunities and transaction meetings. 10% travel overnight – typically 1-2 nights.
• Knowledge of multifamily real estate and affordable housing development.

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.

The Transaction Manager position is a full-time, exempt position.  Qualified applicants may submit their resume online.  

Apply Online