ReadyCap Commercial offers a positive and diverse work culture incorporated with people who are passionate about their careers. We pride ourselves in being viewed as a premier place to work and encourage you to view our Credit Officer opportunity.
- Evaluate business cash flow and its acceptability as a primary source of repayment for certain loan programs.
- Evaluate real estate collateral securing the loan and its acceptability as a primary source of repayment for certain loan programs (Multifamily, Commercial and Investor Bridge).
- Perform review and credit analysis of financial information presented by potential borrowers.
- Prepare written loan submission for Credit approval. Goal is to structure a loan that meets the requirements of the borrower and ReadyCap.
- Assist Credit Manager with training of Loan Analysts and Credit Officers. Assist cross department training of loan officers and sales employees.
Summary of Essential Job Functions:
- Promote a favorable image of ReadyCap to potential and existing clients.
- Contribute to efficient loan processing and closing by maintaining a thorough understanding of ReadyCap Commercial’s guidelines and procedures, compliance requirements, and federal and state laws and regulations.
- Perform in-depth review and complex credit analysis.
- Promptly report to the Credit Manager or Senior Management any adverse events or information that would have a material effect on the lending operation or any event or situation that could be a conflict of interest.
- Contribute to loan decision by providing independent analysis, making process and maintenance of portfolio credit quality by providing in-depth credit analysis of loan applications.
- Prepare a Credit Approval Memo to recommend a loan request that presents the following information:
- Loan is of required quality and no violation of guidelines or regulatory requirements exist. If an exception to guidelines exists, it is fully disclosed and justified.
- Borrower has been interviewed and creditworthiness has been thoroughly investigated.
- Adequate financial statements and other pertinent information have been reviewed and analyzed, along with current economic conditions that affect the transaction.
- Loan is properly priced based upon the Pricing Matrix.
- Loan will be properly documented in full compliance with the approved credit request.
- Value and existence of collateral is verified.
- Correct risk rating is assigned to the credit.
- Assist Credit Manager with training of Loan Analysts and Credit Officers.
Primary Success Measurements:
- Quality of analysis as measured by first payment defaults and defaults within 24 months.
- Number of loan applications analyzed per month.
- Velocity of completed tasks as measured by service delivery times and deadlines.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience:
- Bachelor degree in Finance, Real Estate, Accounting, or Business Administration and 5 to 10 experience in Commercial Real Estate/mortgage lending.
- Professional level experience utilizing technical expertise and/or a solid knowledge base and skills set to process significantly important work with minimal experience;
- Management experience and/or training; or equivalent combination of education and experience.
- A track record of effectively leading, developing credit strategies.
- Post-graduate degree a plus.
- Knowledge of Freddie Mac lending is a plus.
- Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents.
- Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community.
- Ability to write speeches and articles for publication that conform to prescribed style and format.
- Ability to effectively present information to top management.
- Strong written and verbal communication skills; a persuasive and passionate communicator with excellent interpersonal and multidisciplinary project skills.
- Excellent verbal and written communication skills.
- Diplomacy in dealing with associates.
- Ability to give and take direction.
ReadyCap Commercial is a non-bank, direct portfolio lender offering financing for small balance commercial investment, conventional owner user, SBA 504, multifamily and bridge loan programs nationwide. Available financing ranges from $750,000 to $10 million. With concierge-like personal attention, ReadyCap is set apart by its credit decisions, processing speeds and common-sense, solution-oriented underwriting. We see lending differently!
ReadyCap offers a full range of benefits, including competitive salary, comprehensive health plans to choose from including dental, vision coverage, company-paid life & disability insurance policies, business casual dress and a great culture!
ReadyCap is an equal opportunity employer (EOE)!