Loan Officer – Real Estate
The Loan Officer-Real Estate is responsible for identifying potential new customers and originating loans to those prospective borrowers on behalf of Baltimore Community Lending (BCL). The Loan Officer reports directly to the Director of Lending or the President/CEO and performs other duties and responsibilities as assigned by the Director of Lending, the President/CEO, or the BCL Loan Committee.
Duties and Responsibilities
- Provide basic technical assistance and information to the public, potential loan program applicants, and others with a need for information and assistance regarding the general guidelines, requirements, regulations, and procedures governing BCL loan products for which the loan officer has or may have responsibility.
- Intake Commercial/Multifamily Loan Applications and review completed applications to determine basic program eligibility within the current regulations and guidelines for all programs administered by BCL.
- Presents each loan application to the internal BCL Pre-Loan Review Committee for initial review of project viability, financial feasibility, and overall fit within BCL mission, underwriting guidelines and financing capacity. This review is required prior to undertaking detailed/in-depth project analysis, including engagement of appraisers and other consultants.
- Review and analyze applications found to be program eligible for financial feasibility consistent with BCL underwriting standards and approved loan policies and procedures, which shall include, but is not limited to, the following tests:
- Accuracy and completeness,
- Development costs,
- Availability of proposed funding, including other funding sources,
- Accuracy, rationality, and completeness of projected operating expenses and debt service,
- Eligibility, and market feasibility of proposed rents or carrying
- Field surveys,
- Personal and phone interviews –
- Review of public records, etc. as needed,
- Review of market feasibility, neighborhood condition,
- Any other information relevant to loan feasibility analysis.
- Develop, maintain, and continuously update his/her knowledge of directly applicable laws, regulations, guidelines, and procedures affecting BCL products or programs for which the loan officer has responsibility. This includes knowledge of basic eligibility, financial, market, and physical feasibility requirements, and all other factors affecting approval or disapproval of loan applications.
- Negotiate terms of a loan within loan policy and in consultation with Director of Lending/CLO or President/CEO. All proposed variances from approved lending policies must be approved in writing by the President/CEO.
- Prepare BCL Loan Request Summary and recommendation form (with attachments) and submit same for review and approval of President/CEO.
- Review “BCL” Loan Packages prior to submission for completeness content and project support documentation.
- Within the parameters of established BCL timeframes and policies, make verbal presentation and defense of loan submissions to the President/CEO or BCL Loan Committee.
- Interact with legal counsel regarding loan documentation and any legal issues regarding a particular loan.
- Meet with private, public, or other lenders regarding any potential deals and finding programs available to assist with “BCL” projects.
- Make site visits for existing and potential deals to observe current construction status and existing neighborhood conditions.
- Regarding each application in the workload, the Officer is expected to keep his supervisor informed of significant progress or problems as they arise and seek assistance to resolve problems as appropriate.
- Disseminate information through a series of regularly required reports.
- Assists the Finance Dept/Portfolio team in performing annual loan reviews.
- Demonstrate proficiency in effectively communicating technical concepts, writing letters, memoranda, loan summaries, position papers.
- Assist with maintenance of official files, organized in the standard BCL prescribed manner, properly secured and available in the prescribed location.
- Work as a team member, ever conscious of deadline needs, workflow and assignment schedules.
Minimum undergraduate or college degree with five (5) or more years’ experience, including 1) commercial real estate lending experience, preferably in development finance and/or construction lending; 2) work experience or familiarity with community development or affordable housing and 3) strong communication, writing and 4) proficient computer skills including Microsoft Excel, Outlook, Word, and PowerPoint.
Salary commensurate with experience.