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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 2024. 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.Legal & Compliance Department Description
The key objectives of PPM’s Legal and Compliance Department (L&C) are to support its business partners in furtherance of their client needs and to advance PPM’s strategic objectives, in each case by providing accurate and timely advice and guidance, and managing risk through effective governance, monitoring and reporting procedures. Led by PPM’s Chief Operating Officer and General Counsel, the team fosters a collaborative and creative approach to solving legal and regulatory issues while ensuring that service for PPM’s clients reflects the highest ethical and legal standards.Commercial Real Estate Department
The Commercial Real Estate Group (CREG) at PPM invests in commercial mortgage loans and real estate debt related instruments on behalf of PPM’s various clients. Specific responsibilities within the CREG include loan origination, loan closing, insurance, loan servicing and portfolio analytics, 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
The Attorney will report to PPM’s Head of Legal, providing support to the CREG. The Attorney will be a member of the legal documentation and closing team within L&C and work closely with the origination, servicing, insurance, and portfolio analytics teams within the CREG on all legal aspects of the mortgage loan life cycle, particularly loan closings and related responsibilities for bridge loans. The Attorney will engage and collaborate with outside counsel in the review and negotiation of loan documentation, tailoring legal advice to the specific loan while conforming with PPM’s standards and practices. The Attorney will regularly coordinate engagement with third-party report providers, title officers, surveyors, and municipal zoning code professionals.Note: We are considering a broad range of candidates for this position and will fill one position at the AVP or VP level depending on the candidate’s specific experience, skills, and qualifications as outlined below.Role Responsibilities
- Lead and facilitate closing conference calls with correspondent closers, originators, borrowers, and outside counsel
- Negotiate loan applications and loan documents with the assistance of outside counsel in a timely and efficient manner, while collaborating with and addressing the needs of the origination, servicing, insurance, and portfolio analytics teams
- Effectively and prudently manage outside counsel
- Organize the collection and review of all due diligence items
- Identify and discuss any closing nuances and post-closing issues for each loan with the relevant teams within the CREG
- Enter funding information into PPM’s Order Management System and work with the client’s funding department to ensure timely and accurate fundings at closing
- Ensure all loan documentation is complete and correct in order to perfect liens on the collateral
- Work with the servicing, asset management, and origination teams (as well as correspondents and outside counsel, if necessary) on any servicing issues or problem loans that develop over time, advising on and escalating risks as appropriate
- Review various legal documents, including comfort letters, subordination, non-disturbance and attornment agreements (SNDAs), third-party reports, and other legal documents
- Train junior loan closers as necessary
- Refresh loan and related legal documentation templates
- Assist in the review of investment management agreements, participation agreements and other client specific CREG legal work
- Present at various meetings, including CREG meetings devoted to the review of the CREG’s closing process, distressed loans, third-party report requirements, major tenants, and other topics as applicable.
- Advise and research single family residential and residential whole loan investments as needed
- Manage ad-hoc legal related projects as they arise
Required Skills & Experience
- Demonstrated proficiency in closing commercial real estate loans, particularly bridge loans
- Ability to identify issues and perform negotiations in the best interest of PPM’s clients, while appropriately managing and escalating risks
- Ability to navigate difficult conversations with loan borrowers and their outside counsel while establishing relationships to facilitate repeat business
- Creative thinker with the ability and desire to take on new processes and procedures
- Strong analytical thinking, problem-solving, research, and time management skills
- Team player with excellent written and verbal communication skills
- Ability to interact effectively and in a professional manner with colleagues and leaders across PPM, as well as external parties such as clients, outside counsel and service providers
- Attention to detail and strong organizational skills, ability to simultaneously and efficiently manage multiple projects
- Strong personal computer skills and efficient utilization of technology (Microsoft Office, Adobe Acrobat)
- Exceptional proficiency and significant experience in closing commercial real estate loans, particularly bridge loans
- Demonstrated significant experience in identifying and negotiating positions in the best interest of clients
- Exceptional ability to navigate difficult conversations with loan borrowers and their outside counsel while establishing relationships to facilitate repeat business
- Creative thinker with the ability and desire to develop and implement new processes and procedures
- Exceptional analytical thinking, problem-solving, research, and time management skills
- Demonstrated strong leadership and collaboration skills
- Excellent written and verbal communication skills with ability to present and articulate complex legal principles and provide alternative approaches and solutions
- Models effective and appropriate interactions with colleagues and leaders, as well as external parties such as clients, outside counsel and service providers
- Strong attention to detail and organizational skills, ability to simultaneously and efficiently manage multiple projects
- Strong personal computer skills and efficient utilization of technology (Microsoft Office, Adobe Acrobat)
Qualifications
- Bachelor’s Degree required
- Juris Doctor from American Bar Association accredited law school required
- 5+ years of experience as an attorney in the commercial real estate lending field required, including direct experience closing new commercial real estate debt transactions
- 8+ years of experience as an attorney in the commercial real estate lending field required, including direct experience closing new commercial real estate debt transactions
- $135,000 - $160,000 annually
- $160,000 - $190,000 annually
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
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.
Base Pay:
$135,000.00 - $190,000.00. The base salary for this position may vary depending on experience, job-related knowledge, skills, and abilities. In addition to the base salary, this role will be eligible to participate in our annual bonus program. This role will also be eligible for compensated personal time off and holidays, health benefits, 401(k) plan with generous matching and profit sharing contributions, and other benefit programs according to the Company's employment policies and subject to the formal terms of such plans and programs.- $160,000 - $190,000/year
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