Attorney, Loan Closings, PPM
PPM America - chicago, IL
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If you are an internal associate, please login to Workday and apply through Jobs Hub. Working at PPM America, Inc. PPM America, Inc. (PPM) is a client-focused investment manager, and our mission is to deliver client-specific solutions and world class service to investors in the pursuit of their unique investment objectives. PPM prides itself on being a nimble, investment-led organization that is responsive to the opportunities that our teams discover together. Click here for a description of our assets under management and our investment strategies. PPM was named one of the Best Places to Work in Money Management by Pensions & Investments in 2022. We attract professionals who exhibit humbleness, directness, and dedication. Our communication style is informal, and we encourage collaboration by giving our teams the freedom to speak openly and share new ideas. PPM's values guide our internal conduct and help define the type of relationships we share with our investors, affiliates, and other valued partners. Above all, PPM is passionate about giving back to our clients, to each other, and to our community. We understand that community and purpose are just as important as the job description when finding your next career, and at PPM you would join a community of employees with a long track record of dedicating their time and support to local nonprofits with the effort of strengthening local families and increasing economic opportunities. At PPM, we believe that diversity and inclusion are integral to the success of our growth and longevity. PPM is committed to a culture of respect and believe that inclusion is the key to this culture, enabling our ability to innovate, execute, and grow for the benefit of our associates, clients, shareholders, and the communities where we live. Commercial Real Estate Department Description The Commercial Real Estate Group (CREG) at PPM invests in commercial mortgage loans, commercial mortgage-backed securities (CMBS), and debt issued by real estate investment trusts (REITs) on behalf of PPM's various clients. Specific responsibilities within the CREG include loan origination, loan closing, loan servicing, portfolio analytics, CMBS portfolio management, and REIT credit analysis, virtually all of which offer both quantitative/financial and qualitative components. Like the rest of PPM, the CREG prides itself on its collegial and collaborative culture where team members are encouraged to develop and explore solutions in a supportive environment, as well as its positive work-life balance. Senior leadership within the CREG averages nearly 20 years of tenure at PPM, which speaks to the quality of the work environment and the commitment of employees to each other. Summary of Role As a part of the CREG's Legal and Closing team, the Attorney, Loan Closings works closely with the Managing Directors (MDs) as well as the Servicing, Insurance, and Portfolio Analytics teams on all aspects of the loan closing process, both internally at PPMA and with the relevant correspondent offices. In addition, the Attorney, Loan Closings works closely with outside counsel to review, negotiate, and approve the standard PPMA set of loan documents, tailored for the specific loan, but still conforming with the Lender's needs and standards. Third-party report providers, title officers, surveyors, and municipal zoning code professionals are also amongst the parties with whom an Attorney, Loan Closings might work. Role Responsibilities Lead and facilitate closing conference calls with correspondent closers and/or analysts and loan producers, borrowers, PPM's outside counsel, and borrower's counsel. Organize the collection of all due diligence items Negotiate loan documents with the help of outside counsel to close loans in a timely and efficient fashion while responding to the needs of the MDs, Servicing, Insurance, and Portfolio Analytics teams Ensure all loan documentation is complete and correct to perfect client's lien on the collateral Work with Servicing, Asset Management, and the MDs (as well as correspondents and outside counsel, if necessary) on any problem loans that develop over time within client portfolios Work with the MDs on application or documentation matters (as well as outside counsel, if necessary). Discuss funding and any closing nuances or issues with the Servicing group and others in the CREG with each deal Input third-party contact information in PPMA's loan servicing system, Precision Collect, review, and maintain a file of various documents related to closing work, including but not limited to, hotel comfort letters, subordination, non-disturbance and attornment agreements (SNDAs), third-party report requirements, and vendor lists Present and invite outside counsel to present at various CREG "Lunch and Learn" sessions devoted to the review of the CREG's closing process, bankruptcy matters, third-party report requirements, major tenants, etc. Proactively manage any issues between the Closing team and other CREG teams (Servicing, Insurance, Portfolio Analytics, Production/MDs) Required Skills & Experience Bachelor's Degree, preferably in Real Estate or Finance Juris Doctor from American Bar Association accredited law school 3+ years of experience as an Attorney in the Commercial Real Estate Lending field, including direct experience in closing new Commercial Real Estate Debt Transactions Desired Skills & Experience Personable, agreeable, and possesses an ability to smooth over difficult interactions with loan borrowers to promote repeat business Strong organizational and time management skills Creative thinker with the ability and desire to take on new processes and procedures Notary Public preferred Benefits At PPM, we offer volunteer opportunities to get involved with a diverse network of peers and support the causes that are important to you. Your passion and talents can make a lasting impact on our organization and our community. Additionally, our employees go the extra mile every day and the benefits of working at PPM reflect our commitment to supporting and enhancing their personal and professional lives. The plans and programs listed below are offered in collaboration with our parent company. Competitive salary and bonus Medical, dental and vision coverage 401k retirement plan with dollar-for-dollar matching contributions (up to 6% of salary) Tuition and professional certification reimbursement Paid parental leave Adoption assistance Holidays and paid time off Paid time off to volunteer Life insurance Gift matching #LI-KL1 Equal Employment Opportunity PPM America, Inc. is an equal opportunity employer and we base our employment decisions without unlawful regard or consideration of an individual's race, color, religion, national origin, sex, gender, sexual orientation, ancestry, citizenship, age, marital status, veteran status, medical condition, non-job related disability, pregnancy or any other basis protected by federal, state, or local law.
Created: 2024-10-22