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Toronto | 5 + Years
Our client, a commercial mortgage lender, loan servicer and investment fund manager, focusing on the Canadian real estate debt and equity markets. They offer a full range of financial products to real estate owners and investors, including commercial mortgages, CMHC-insured financing, mezzanine financing, investment funds and commercial mortgage-backed securities (CMBS).
Since its inception, they have pioneered the rebirth of the Canadian CMBS industry and remains a leading player in the marketplace. Our client has quickly become one of the largest independent commercial mortgage lenders in Canada, with over $3.6 billion of new commercial mortgage loans closed across all asset classes since 2011.
They are seeking a Legal Clerk to join the Toronto office. In this role, the candidate will perform a variety of tasks in connection with funding loans on commercial properties located nationally and across all asset classes.
Who are you?
A self-starter who can roll up their sleeves to get the job done. You know that administration is also a part of the job. You are client-focused and eager to learn new things. You know what it means to work as a team and can communicate clearly.
What you will be doing?
- Preparing and negotiating letters of intent/commitment letters in compliance with credit requirements
- Understanding, negotiating, and assisting with drafting of loan documents including intercreditor and syndication documents, postponement and priority agreements, and other related legal documents.
- Engaging service providers to complete property and legal due diligence
- Preparing introductory letters to borrowers with checklists and due diligence documents
- Reviewing tenant estoppel and related documents
- Providing support to borrowers and originators/underwriters by initiating requests for information and documentation concerning the closing of each loan file
- Working closely with borrowers on closing their mortgage loan
- Working with all third-party service providers to facilitate each loan closing file
- Reviewing loan documents and legal due diligence packages
- Receiving and forwarding insurance policies for review by insurance consultant
- Completing anti-money laundering due diligence and documentation
- Working with the underwriting and origination teams to ensure that loan due diligence has been completed in preparation for closing, including ensuring all escrow and reserve requirements are included in the final mortgage loan closing statement
- Reviewing and/or preparing closing documents and providing instructions to legal counsel in negotiation of loan documents
- Reviewing documentation to ensure that conditions are cleared to close
- Preparing and balancing closing numbers, requisitioning funds and arranging funding wires
- Checking that disclosure tolerances are within guidelines and assure that all procedures meet internal and investor requirements as well as compliance to all regulatory and governmental agencies
- Reconciliation of mortgage loan files
What do You Bring?
- Minimum of 5+ years of experience working closely with commercial mortgages with a lender or a law firm
- Ability to work independently and handle multiple priorities
- Ability to handle a heavy workload at times
- Extremely organized
- A client-service mindset
- Strong individual contributor and always open to support and work within the team
- Must have computer skills in Microsoft suite
- Basic accounting knowledge
- Knowledge of syndicated loans and FSRA disclosure requirements is considered an asset
- Knowledge of intercreditor agreements and understanding priority clauses is considered an asset
For more information or to submit your CV to kgauthier@zsa.ca reference #33122