Uncubed

Commercial Loan Operations Closer

RealtyShares, San Francisco

Real estate investing made easy. Over $500 million invested across 1,000+ deals


Commercial Loan Operations Closer

at RealtyShares (View all jobs)

San Francisco

RealtyShares is a leading online real estate investment marketplace where individual and institutional investors can participate in private deals across the country. By infusing technology into the archaic real estate industry, we’re able to connect accredited and institutional investors with pre-vetted real estate companies and operators looking to raise debt and equity capital. We’re giving people the chance to invest in both residential and commercial real estate properties and tap into the multi-trillion dollar real estate industry. To date, we’ve funded more than $500 million across nearly 1,000 deals in 39 states.

 

We are a venture backed startup and have received funding from 500 Startups, Union Square Ventures, General Catalyst and Menlo Ventures.

Role and Responsibilities

  • Manages the processing and closing functions for real estate investments (Commercial Debt and Equity) listed and funded through the RealtyShares platform, maintaining communication with the sponsor/borrower, title company, outside attorneys and vendors, and other parties as necessary, ensuring timeliness and accuracy
  • Assists Origination/Deal teams with gathering, reviewing, and assembling due diligence information and other loan documentation from pre-loan phase to loan closing
  • Effectively communicates with borrower (sponsor), real estate broker, and title company to request applicable documents, such as operating agreement, revisions to hazard insurance binders, documents to clear any items that may impact clear title etc.
  • Assists with the preparation and review of all securities filings (SEC Form D Filings and State Blue Sky Filings); creates and uploads Investor Packages, and procures execution of listing agreements prior to deal launch
  • Orders title reports, flood determinations, environmental reviews etc.
  • Verifies accuracy on documents such as title commitment, insurance forms, Operating Agreement, Deed of Trust, Settlement Statement, names of sponsors, entities and guarantors
  • Compiles and prepares closing documents. Reviews approved terms and closing conditions that must be met prior to closing
  • Answers questions regarding closing requirements to sales partners, team members and other applicable stakeholders in the transaction. Communicates any delays or revisions to closing dates effectively and promptly to all stakeholders
  • Enters data and calculates loan interest and principal payment, and closing costs, using computer or factor table and calculator
  • Prepares closing documents including but not limited to, closing instructions, Note, Deed, Guarantor, review of HUD-1 etc. Updates RealtyShares system
  • Confirms escrow closing statements and bank settlement statements are in balance, ensuring fees and expenses are accounted for and outstanding items are identified
  • Reviews all loan documents that are received back from title company to ensure all documents are signed, dated, and initialed where applicable. Assembles documents for delivery to investor, RealtyShares platform or other parties as determined
  • May compile closed loan documents for delivery to marketing department for sale to investors
  • Own the maintenance and analysis of key investment metrics including transactional flow, key dates, balance sheet positions and other marketplace dynamics
  • Other duties as assigned

Qualifications and Education Requirements

  • 3+ years of commercial processing/closing experience; commercial equity (Preferred and/or Joint Venture equity) knowledge a plus
  • Bachelor’s degree from a four (4) year College or University
  • Experience and extensive knowledge of  commercial/small-balance/multi-family regulatory laws and guidelines
  • Clear focus on detail and ability to recognize inconsistencies in data/documents
  • Detailed knowledge of Closing and Legal Documents (i.e. HUD-1, Note, Deed of Trust, Assignment, Title Binder, Hazard and Flood Insurance), Disclosure Documents (TIL, GFE, Right of Rescission, State-specific disclosures helpful but not required)
  • Understanding of rehab loans and home improvement budgets is helpful (Fix and Flips)
  • Understanding of business entities (i.e., limited partnerships, LLCs and corporations) is helpful
  • Experience with SalesForce is helpful but not required
  • Excellent written and verbal communication skills required
  • Understanding of origination, processing and underwriting roles and process required
  • Proficient computer skills, including Microsoft Office/Google applications
  • Basic ability to navigate financial statements and financial data

Required Attributes

  • Ability to work in a “High Volume" environment with sense of urgency
  • Great work ethic; takes ownership and accountability for actions
  • Is flexible and adaptable to changing organizational objectives
  • Ability to maintain effective performance and a positive outlook under pressure
  • Ability to differentiate between important and urgent activities, plans for meeting current and future goals
  • Excellent written and verbal communication skills required

At RealtyShares, we value diversity and always treat all employees and job applicants based on merit, qualifications, competence, and talent. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will consider for employment qualified applicants with criminal histories in a manner consistent with the requirements of the San Francisco Fair Chance Ordinance.

About RealtyShares

About us RealtyShares is a real estate crowdfunding platform. We've created the leading marketplace for real estate investing through which individual and institutional investors can purchase shares in vetted residential and commercial real estate properties for as little as $5,000 from the convenience of a laptop or tablet. These investments are offered through real estate borrowers/sponsors looking for access to more efficient capital than what banks and other private capital sources are able to provide.

Want to learn more about RealtyShares? Visit RealtyShares's website.