Senior Loan Processor

Senior Loan Processor

Location: CT, MA, RI

Salary up to $80,000 per year

New Silver is a fintech company with a mission - helping to improve local communities by providing fast, convenient and flexible capital to real estate investors. We use data and technology to provide our clients with fast approvals and certainty of execution while maintaining high-touch customer service to wow them across the entirety of their journey. 

We are proud to be a 2-time Inc. Magazine Regionals Award Winner, a testament to our rapid growth and impact in the fintech and real estate lending space. Our growing company is headquartered in CT, with a global presence. We are driven by our goal to be the fastest lender in the US, so we move quickly, but carefully. Innovation is the name of the game and no idea is too out of the box for us because our motto is: Financing Outside The Box. Join our dynamic team from across the globe and help us lead the charge for real estate investors into the future!

Your Role:

You will have a key role in our fast-paced organization. You will focus on documenting and underwriting short term “fix and flip” and “ground up construction” loans as well as long term DSCR loans for residential investment  properties across about 40 states. You'll collect, review and clear any required supporting docs for the underwriting file. You will use our proprietary technology to assess borrower and collateral credit risk, order and review appraisals, review credit reports and run background checks to help structure loans and clear the underwriting requirements for the closings. You will also work with senior team members to conduct portfolio and underwriting guidelines reviews and recommend  improvements. You will be responsible for making fast decisions, thinking “outside the box” and working within a fast-paced, evolving and exciting startup culture.

Benefits:

• Be a key member of a small team
• Fast paced startup environment, global team
• Help real people succeed in business
• 100% health, dental and life insurance covered by employer
• 401K match
• Unlimited vacation and sick days
• Opportunities for fast promotions and growth

Responsibilities:

• Review and clear borrower entity docs, credit & background reports, liquidity, experience, and additional supporting docs as needed
• Obtain any additional supporting documentation from prospective borrowers 
• Order and review real estate appraisals and manage the appraisal pipeline
• Review and clear exceptions with the loan advisers and investment committee team
• Request and help draft letters of explanation and other documents for borrowers to sign as needed
• Update preliminary loan structure after appraisal review for the final loan terms approval 
• Perform portfolio reviews and reporting to identify potential weaknesses and work to improve credit policies
• Draft and maintain underwriting and credit policies
• Stay on top of the real estate and general market news cycle in order to forecast potential market changes before they occur
• Use various technology tools in order to be efficient and compliant 
• Communicate with borrowers, partners and 3rd party providers as needed

Requirements:

• Bachelor's degree 
• 5+ years as loan processor 
• Experience working with business purpose loans secured by real estate
• Strong attention to detail
• Ability to communicate well on the phone and via email
• Knowledge or passion for real estate 
• Ability to work independently with minimal direction, highly motivated
• Knowledge of Excel or other similar tools
• Ability to be flexible and work well under pressure in a high pace environment

Environment and Culture:

• Our days can be long, but we get rewarded for it
• We are driving for growth
• We are available and responsive
• We are a global team of self-starters
• We move fast but try not to break things
• We are proud to help communities rebuild