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Commercial Loan Administrator

Company: Radar Net Lease
Location: Phoenix
Posted on: November 22, 2021

Job Description:

Radar Net Lease (Radar) is a Scottsdale, AZ based commercial real estate lender with a focus on single tenant construction projects across the country. We have a creative approach to financing that allows us to bring together the assurances of a larger institution with the personalized service of an independent lender. When our clients succeed, they become more than just clients - they become long-term partners. We are looking to hire a Commercial Loan Administrator to join our growing team of professionals. This individual will be working in a fast pace, collaborative, and flexible work environment, and will gain invaluable exposure to all elements of our business by reporting directly to the company's founders. The loan administrator will be responsible for managing a portfolio of commercial construction loans and short-term bridge loans. They will review commercial real estate loan documents, assist in the due diligence closing process, and analyze and administer construction draw disbursements. From the time the loan is approved until project completion, the administrator will oversee the loans by reviewing the monthly construction draw packages. This includes verifying borrower equity contributions, analyzing budgets and sources/uses of funds, identifying exceptions/changes in conformity to standard monitoring requirements, in accordance with loan documents and/or approved deviations.

  • Communicate with clients, escrow/title officers, legal counsel, etc. responding promptly to inquiries and coordinating all relevant information to ensure timely loan closings.
  • Assist Radar team members during loan request/underwriting/closing process, including obtaining required credit-related information and other due diligence items.
  • Assist in ordering loan documents (through outside counsel), review loan documents for conformance to loan approval documents.
  • Process all types of transactions including loan payments, payoffs, principal and/or interest adjustments, interest reserve payments, loan advances, and construction draws timely.
  • Maintain, and track UCC continuation financing statements, insurance certificates, and property tax payments.
  • Organize and maintain file systems (including credit files) by composing routine correspondence, making copies of correspondence and other materials, and attaching/filing correspondence and other records to appropriate loan files as necessary. Skills and Competencies:
    • 3+ years of prior loan operations experience in a real estate or financial services industry preferred
    • Well organized, service-oriented individual who enjoys working in a team environment.
    • Knowledge of commercial loan documents and loan operation standards
    • Professional written, verbal communication, problem solving, and interpersonal skills, along with the ability to produce quality work within tight time frames while managing multiple assignments.
    • Working knowledge of Microsoft Excel, Word, and PowerPoint.
    • Ability to think outside the box and generate ideas for process improvements
    • Detail oriented with good time management skills and the ability to prioritize tasks.
    • Notary public preferred, but not required

Keywords: Radar Net Lease, Phoenix , Commercial Loan Administrator, Accounting, Auditing , Phoenix, Arizona

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