Loan Compliance and Due Diligence Coordinator
The Salem Group
The Salem Group is looking for a Loan Compliance and Due Diligence Coordinator for a Direct Hire opportunity with our client in Oakbrook, IL.
The Loan Compliance and Due Diligence Coor dinator works closely with the Risk Lease Analyst to assist Finance close loans and provides due diligence services by reviewing the insurance sections of leases applicable to new acquisitions and current properties. This role reports to the VP of Risk Management.
We are an Equal Opportunity Employer. We consider applicants for all positions without regard to race, color, religion, sex, national origin, age, sexual orientation, familial, marital, or veteran status, disability, or any other legally protected classes
· Demonstrates highest standards of personal and professional integrity, adheres to company’s policies and procedures, and complies with applicable laws, government rules and regulations.
· Reviews loan documents and suggests edits, if needed when determining the compatibility of triple net tenant’s insurance or Company’s insurance, whichever is applicable.
· Negotiate with lenders to accept triple net tenant’s insurance or Company’s insurance, whichever is applicable.
· Obtain Mortgagee Insurance Requests for Triple Nets and Ground Leases, and other assets being financed.
· Due Diligence for Property Acquisitions:
· Interpret Tenant Lease Insurance Section.
· Lease Compliance verification:
o Ground Lease:
§ Certificates of Insurance for General Liability.
o Triple Net:
§ Evidence of Property Insurance and Certificates of Insurance for General Liability.
o Reading leases and all other documentation with insurance requirements that pertain to the associated acquisition.
o Prepares written analysis of gaps in coverage for file documentation and up-date Risk Management Information System (RMIS – Origami).
§ Work with Risk Lease Analyst to provide insurance premium estimates of Company’s insurance program if seller/tenant will not provide required coverage.
Education and Experience:
· This position requires an Associate Degree in Business Administration or equivalent professional knowledge and/or work experience.
· This position requires at least 2+ years of prior professional experience in real estate financing or insurance.
· Microsoft Word, Excel, Outlook are required for this position.
· Excellent verbal and written communication skills
· Basic knowledge of Real Estate financing and Insurance terminology