Legal Counsel

Job Description

The Counsel Network (now a part of Caldwell) has been retained by Institutional Mortgage Capital to conduct a search for a Legal Counsel in Toronto, Canada

Our client, Institutional Mortgage Capital (IMC) is an independently owned investment fund manager and commercial mortgage lender serving institutional and private wealth clients across Canada since .

With a focused and disciplined approach and a strong set of core values, the IMC team has originated and closed more than $14B of commercial mortgages, established 15 investment funds and re-launched the Canadian CMBS market securitizing over $12B of commercial mortgage loans.

IMC, directly and through its related entities, is also a CMHC Approved Lender and a Fitch-rated Commercial Primary Servicer.

IMC has a need for a talented and business-wise lawyer to join its team.

Description

The successful candidate will be a senior member of the IMC team, taking a proactive role advising and assisting on financing transactions across all asset classes including negotiating and drafting transaction documents.

This role will also be directly responsible for leading the mortgage loan closing activities and building that team’s capabilities.

Key Accountabilities and Responsibilities

• Prepare and negotiate commitment letters in compliance with credit requirements.
• Engage service providers to complete property and legal due diligence.
• Prepare introductory letters to borrowers with checklists and due diligence documents.
• Review tenant estoppel and related documents.
• Provide support to borrowers and originators / underwriters by initiating requests for information and documentation concerning the closing of each loan file.
• Work closely with borrowers on closing their mortgage loan.
• Work with all third-party service providers to facilitate each loan closing file.
• Review loan documents and legal due diligence and documentation.
• Ensure all escrow and reserve requirements are documented by working closely with the originators / underwriters.
• Review and / or prepare closing documents and provide instructions to legal counsel in negotiation of loan documents.
• Work closely with third party syndication partners to document and fund mortgage loan transactions.
• Review documentation to ensure conditions are cleared to close.
• Prepare and balance closing numbers, requisition funds, and arrange funding wires.
• Check 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.
• Take on increased responsibility over time.

Education and Professional Skills / Knowledge

• LL.B. or J.D. degree (or equivalent).
• Good standing with a Canadian Law Society.
• 7-10+ years of experience in banking & finance law and / or real estate financing, with a focus on commercial mortgage funding.
• A self-starter with a client-focused outlook and sound business acumen.
• Excellent communication, interpersonal, and organizational skills.

Offering competitive compensation and this is an excellent opportunity for professional growth and be part of a leading team committed to excellence, teamwork, integrity, and professionalism,