Senior Loan Officer

Details: Division :   Mercy Housing Location :   Denver CO US 80202 % of Travel Required :   Career Level :   Experienced (Non-Manager) Education :   Bachelor's Degree Category :   Accounting/Finance/Banking Compensation :   From 70,000 To 80,000 DOE The Senior Loan Officer, Mercy Loan Fund is responsible for independently building relationships with nonprofit borrowers, structuring loans to balance the needs of the borrower with the risk of Mercy Loan Fund, writing credit memos to capture all salient points of the underwriting process, presenting loans for approval to both the Loan Review Committee and Board, closing loans to meet annual loan volume goals, with close attention to detail in due diligence documentation.JOB FUNCTIONS/RESPONSIBILITIES                 1. Represent Mercy Loan Fund to the public, effectively building relationships with customers, partners, and investors, which are the cornerstones of MLF’s business, ranging from small local nonprofit organizations to large corporations. Discuss MLF’s loan products as they relate to the audience. Present at conferences. Work in racially and economically diverse communities. Work in conjunction with industry partners and affordable housing residents.  2. Originate loans within the context of the overall portfolio, based on knowledge of MLF’s loan products, risk tolerance, and staffing capacity, in order to determine a preliminary structure that will meet borrower’s needs while adhering to MLF policies and protecting MLF’s risk. Independently respond to requests from potential applicants, manage customer expectations, and explain lending parameters.  3. Independently underwrite loans and induce borrower’s responses to questions as needed, in order to meet Loan Review Committee meeting and borrower’s closing deadlines. Review applications, maintain detailed knowledge of approved underwriting policies, follow up with applicants, research affordable housing programs as needed, conduct site visits if needed, negotiate loan structure, complete financial analysis, prepare credit memo summarizing all relevant information from underwriting and recommending loan structure, present to supervisor for preliminary review, then to approval body (MLF President or Loan Review Committee or Board). 4. Close loans to meet annual loan volume goals and borrower deadlines, while mitigating risk during the closing process by fully considering all due diligence received. Prepare Commitment Letter for approval by supervisor. Review all due diligence and request changes as necessary. When legal counsel is retained, work with borrower, legal counsel, and title company to confirm that conditions of funding are met and to close the loan. When legal counsel is not retained, prepare loan documents, review title, and survey and file documents. 5. When necessary due to workflow and workloads of asset managers, independently assume asset management responsibilities for loans post-closing until asset managers are able to assume responsibility or indefinitely if warranted. 6. Coordinate timing of loan funding, in advance, with MLF Portfolio Manager, to ensure that MLF has sufficient liquidity for closing; prepare wire transfer document.7. Assemble and maintain complete loan files, verify that complete Closing Transcript has been received from legal counsel and approve final version compiled by Loan Fund Coordinator.   8. Post closing, communicate all deal structure, servicing, monitoring, and asset management requirements to servicing and asset management staff. Provide input when needed to asset managers to mitigate risk and maximize repayment potential during the life of the loan.9. Work with supervisor and Mercy Loan Fund President to identify unfilled borrower needs, market saturation, and market opportunities.•cb Open Date :   04/06/12 Property :   Denver Corporate Office

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