Description:
Title: Commercial Loan Closer – Affordable Housing
Employee Status: Full Time Exempt
Salary: Grade 2
Starting Range of $52,000 - $67,000 |Indiana
Starting Range of $55,000 - $69,000 |Chicago
Reports to: Manager of Escrow
Matrix Reporting: Manager of Closing
Department: Capital Solutions
Location: Indianapolis, IN; Chicago, IL
Hybrid Remote: In office: T/W | Remote: M/Th/F
Department Function: Capital is a critical resource that’s often beyond the reach of nonprofits serving communities with limited resources. IFF works hard to change that. For more than 30 years, IFF has specialized in flexible lending products that help nonprofits achieve their growth goals and best serve their communities. IFF’s clients include human services agencies, supportive housing providers, schools, health clinics, arts organizations, community centers and a full spectrum of other nonprofit organizations. Racial inequality in property values still exists today. IFF takes a different approach to underwriting that isn’t limited by appraisals, but instead is informed by a deep understanding of nonprofit operations and the importance of nonprofit facilities to communities. IFF provides lending to our clients uniquely designed to serve nonprofits with no appraisals on commercial projects, as low as five percent up front, and long-term loans with no prepayment penalties. Loans can be used for acquisition, facility improvement, equipment and vehicles, and affordable housing. Capital Solutions is part of IFF’s Core Business Solutions which is a cross-cutting team that sits at the nexus of nonprofits, communities, and IFF technical knowledge. The group provides thought leadership and expertise to drive corporate strategy across markets. The primary business units in Core Business Solutions are Capital Solutions, Real Estate Solutions, Community Development Solutions, Home First, Legal and Compliance.
The Organization
IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and healthy food grocery operators. Staff contribute extensive business experience and an unrivaled connection to the mission of IFF to the clients we serve.
Equity, Diversity, and Inclusion
Partnering to create thriving communities is at the heart of everything we do. We leverage knowledge, capital, and resources to advance equitable and transformational outcomes in under-resourced communities, guided by our commitment to be an inclusive, anti-racist and anti-oppressive institution that honors communities as asset-rich and as experts in their own stories.
Basic Job Function
The Commercial Loan Closer (Affordable Housing) is responsible for coordinating and facilitating the loan closing process for affordable housing and related loan programs. This role ensures accurate documentation, compliance with loan approvals, and efficient closing execution while maintaining organized and complete loan files. This position serves as a key liaison among internal teams, borrowers, legal counsel, and third-party partners, ensuring timely communication and high-quality customer experience throughout the closing process.
IFF is looking for candidates with a commitment to the work we do who can demonstrate their creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful changes in the areas of economic and racial justice.
Requirements:
Core Responsibilities:
1. The Commercial Loan Closer (Affordable Housing) coordinates and facilitates Affordable Housing loan closings for Capital Solutions. May also assist with other loan closings for Facilities, NMTC or other special loan programs as appropriate. Careful documentation and file retention is a critical function.
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Interacts directly with customers on loan closing requirements and closings.
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Develop closing checklists and collect required due diligence documentation.
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Maintains and reviews loan-closing documents and relevant files.
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Works with IFF attorneys and/or outside legal counsel in all aspects of loan document preparation and review of other items for closings.
2. Works with IFF attorneys and/or outside counsel to collect post-closing documents from title companies to ensure timely filings.
3. Makes available progress and status of loan closings for IFF staff through regular updates on IFF systems and through communications.
4. Uses IFF systems including Microsoft Dynamics CRM, Smartsheet, Microsoft Office, Microsoft Outlook, Loan Ware in performing job duties and responsibilities.
5. Maintains required job knowledge and skills and core professional competencies. Attends and participates in required educational programs and staff meetings.
6. Demonstrates a commitment to equity. diversity, and inclusion. Promotes an environment of empathy and respect, ensures the inclusion of all team members, and will actively engage in EDI events and learning opportunities.
Note: No job description can be entirely comprehensive, and the jobholder will be expected to carry out such other duties as may be required from time to time and are broadly consistent with the job description and status of the position within the organization.
Performance Measures:
1. Timely completion of loan closings production to meet department goals.
2. Accurate and complete loan documentation in organized files during and after-loan closings and for multiple loan advances.
3. Efficient use of time and ability to manage multiple tasks.
4. High level of customer satisfaction with respect to loan closings and loan disbursement.
5. Cultivates a culture of openness in information sharing. Encourages open communication, cooperation, and the sharing of knowledge.
6. Models personal accountability that promotes ownership and engagement.
7. Builds and maintains effective working relationships with colleagues, peers and team members.
8. Values and supports differences in others, contributing to an inclusive work environment. Demonstrates the ability and willingness to communicate effectively with people of diverse backgrounds and experiences to create a collaborative, collegial, and caring community.
9. High level of satisfaction with both internal colleagues and external contacts.
Position Qualifications:
Education: Bachelor’s or associate Degree required in business administration, finance, or paralegal certification preferred. Minimum of 1- 3 years of experience in loan closings, loan operations, banking, title/escrow, or real estate transactions. Exposure to affordable housing, multifamily lending, or community development finance preferred, including familiarity with programs such as LIHTC and other publicly supported housing initiatives.
Previous Experience: Direct experience with commercial lending; excellent customer service and communication skills for one-on-one interaction with borrowers; ability to manage multiple projects; ability to learn and use a wide variety of computer software including word processing, database programs, spreadsheets, customer management, email and bank systems; detailed oriented with good communication (written and oral) and interpersonal skills.
Additional Requirements: Minimal regional travel may be required.
Standard Benefits
Medical, dental, and vision insurance
Paid time off
401(k) retirement plan with employer contribution
Life Insurance
Short- and long-term disability
Work-Life Balance Benefits:
Hybrid workplace
Summer Fridays
Employee Development Benefits:
Professional development stipend
Mentorship program
Miscellaneous:
Wellness programs
Employee assistance
Referral Bonuses
IFF does not offer the following:
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relocation package
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100% remote
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provide sponsorship to applicants who require or will require a work permit.
Check off only some boxes in the requirements listed above. Studies have shown that marginalized communities- such as women, LGBTQ+ and people of color - are less likely to apply to jobs unless they meet every qualification. So, if you're excited about this role, we encourage you to apply.
Application Instructions: Please visit the Careers section of our website to apply online.
IFF values equity, diversity, and inclusion as part of its mission to strengthen nonprofits and the communities they serve. IFF is an equal opportunity employer and is committed to building and maintaining a culturally diverse workplace that is free of discrimination and harassment of any kind. We encourage women, minorities, individuals with disabilities and veterans to apply. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate.
