About the Company:
Timbercreek is an active investor, owner and manager of global real estate assets. Founded in 1999, Timbercreek currently manages $10 billion in total assets, including syndicated debt under administration as of May 31, 2019, across three key investment strategies; direct investments in mortgages and other debt secured by real estate, direct investments in real estate and investment in publicly traded companies that own investment-grade real estate. As a global investment manager, property manager and lender, Timbercreek’s audiences are broad and include multi-residential tenants, commercial real estate owners, investment advisors, individual investors and institutional investors. Timbercreek has been named multiple times as one of Canada’s Fastest-growing Companies by PROFIT 500 and has been recognized as a Certified Great Place to Work.
About Timbercreek’s Debt Investment Platform:
Timbercreek Financial has a 10+ year track record of originating, underwriting, servicing and actively managing structured commercial real estate debt on behalf of retail and institutional investors alike. Timbercreek has established a reputation as a leading alternative mortgage capital source in Canada, providing flexible debt solutions not available from traditional banks and Life Co’s. As such, Timbercreek is currently expanding its commercial real estate debt platform into the US and Ireland.
About the Position:
Timbercreek is seeking a Commercial Mortgage Funding Officer who will thrive in a fast-paced, entrepreneurial environment. The Commercial Mortgage Funding Officer is responsible for closing all new mortgages. The position will be accountable for ensuring all funding conditions have been met. In addition, the candidate will be responsible for assisting with post-closing and various servicing functions.
Key Responsibilities:
General Funding Duties:
- Responsible for all funding activities / closing for direct mortgage investments made by various Timbercreek funds. This also includes collaborating with the origination and underwriting teams, and corresponding with borrowers, and mortgage brokers to obtain due diligence and closing information.
- Manage work volumes to meet short timelines with a high level of quality.
- Instruct solicitors and Insurance Consultant.
- Set up closing checklist; statement of advance and various documents for funding packages
- Ensure all funding conditions have been met as set out in the commitment letters
- Follow AML procedures with an emphasis on “Know Your Client” rules
- Maintain and develop controls to ensure the integrity of the mortgage files and funding packages and accuracy of information;
- Ensure that all documents and packages are scanned and saved to the specific mortgage.
- Assist with syndications and working with various investor requirements
- Liaise with third party service providers (i.e. solicitors, syndicate partners / investors, etc.)
- Responsible for getting documents reviewed and ready to sign with Custodian
- Manage work volumes to meet short timelines with a high level of quality
- Maintain a comprehensive knowledge of the company's funding procedures, legal guidelines and resources.
- Review Closing Binders and update PPSA information into LMS (and send to storage if applicable)
- Special Projects as assigned.
General Servicing Duties:
- Work closing with the Manager, servicing to ensure work flow continuity.
- Assist with loan set up on mortgage software.
- Provide assistance to the servicing team for timely and effective servicing of the portfolio of loans from the advance of funds to the full repayment of the mortgage loan;
- Assist with post closing items, including, but not limited to:
- Insurance follow ups (ensure collaterals are properly insured as per Lenders standards).
- Set up of all payments and/or follow-up of all property taxes, insurance premiums, as well as Reserve Accounts (including the disbursement of any escrowed funds).
- Special Projects as assigned.
Job Requirements:
Education and Experience:
- Applicants will have will have worked in a mortgage administration, funding, and / or lending role with minimum of 5 years experience, preferably in Commercial funding.
- Knowledge of mortgage lending practices
- College or post-secondary education or equivalent work experience in the financial services industry.
Qualifications:
- A professional demeanor and coupled with strong communication skills both written and verbal.
- Demonstrates a high degree of integrity, diplomacy, discretion and confidentiality.
· Ability to accurately listen, understand and respond appropriately.
· Ability to work and act independently using good judgment when assessing difficult situations.
· Ability to remain calm and focused in high pressure situations.
· Self-motivated individual who is proactive, takes initiative, goal and results oriented and work independently without a lot of direction.
· Superior organizational and time management skills in order to multi-task/prioritize and work under tight timelines and meet multiple deadlines.
- Flexible with a “can-do” attitude and a “no task is too big or too small” attitude.
- Excellent problem-solving capabilities.
- Superior attention to detail and accuracy and excellent follow-up skills.
