What are the responsibilities and job description for the Loan Manager position at Redwood Trust Inc?
Position Summary
A Loan Manager will be responsible for obtaining all required diligence documents from the borrower team and coordinating third party vendors and the deal team in connection with each loan. A Loan Manager will work closely with senior management, clients, internal teams and various third parties.
Responsibilities & Duties
- Facilitate kick-off calls when needed, as well as prepare and update diligence checklists for deal team.
- Coordinate with originations and borrowers to collect due diligence items.
- Review and identify required documents to clear due diligence checklist such as guarantor, legal, and property level documents.
- Effectively identify issues out of loan product guidelines and matrix.
- Identify and communicate with originations when to rate lock loans.
- Coordinate and review background and credit search, engage the title company by providing initial quotes to borrower team, vet third party title companies, and initiate appraisal orders.
- Work with legal counsel when needed, title and escrow, deal team, and third-party vendors
- Coordinate vendor orders, checklist and welcome email transmission, diligence document upload, insurance review, title review, and appraisal orders.
- Manage loan life cycle in pipeline and coordinate and drive communication between deal team, including underwriting, closing, and originations to ensure that diligence documents are received in a timely manner.
- Communicate with borrowers, third parties and internal business partners during diligence to facilitate efficient underwriting and loan closing.
- Coordinate with internal deal teams and external vendors regarding pipeline forecasting.
- Assist with post-closing when needed.
- Effectively apply project coordination to help with process improvements.
- Demonstrates openness to providing constructive feedback for process improvements, contributing to a culture of continuous enhancement and operational efficiency.
- Additional duties as requested by management
Required Experience & Education
- Bachelor's degree, or equivalent work experience
- Minimum 2 years commercial real estate/mortgage loan processing experience
- Escrow and title experience are pluses
- Proficiency in Word, PowerPoint and Excel
- Strong written and verbal communication skills
- Strong attention to detail and organizational skills
- Exceptional internal and external customer service
A reasonable estimate of the total compensation range for this role is $70,000-$85,000. The actual salary offer to the successful candidate will be based on job-related education, geographic location, training, licensure and certification, and other factors. CoreVest also offers a competitive benefit package including discretionary corporate bonus program, multiple health plans, STD and LTD options, company sponsored life insurance, fitness reimbursement, paid parental leave, time to volunteer, Paid Time off, ESPP, and 401K matching.
At Redwood Trust, we are committed to fostering an inclusive workplace where diversity is valued, and everyone has the opportunity thrive. We welcome applications from individuals of all backgrounds and experiences. We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
Salary : $70,000 - $85,000
