Loan Originator

LaundryLux•West Nyack, NY

About The Position

The Loan Originator is responsible for assessing the risks associated with lending activities. This typically involves analyzing financial statements, credit reports, and other relevant data to determine the likelihood of repayment. The analyst aims to support decision-making processes by providing detailed assessments that help the funding institution make informed choices about extending credit. Additionally, they provide superior service and support to our customers. Before we continue to dive into the requirements for the role let’s talk about Why you should join LaundryLux? Career Advancement: We offer a career, not just a job. We invest in the personal and professional growth of every employee because we believe growth leads to both business impact and personal fulfillment. Learning and Development: We foster a culture that encourages and promotes professional growth and development, with continuous learning Diversity Initiatives: We are proud to have launched the Women’s Initiative focused on building a better workplace for women, providing support, and recognizing the talented women within our company.

Requirements

Strong understanding of loan documentation principles and the perfection of security interests.
Ability to effectively manage time to meet deadlines and prioritize tasks.
Proficient in negotiating terms and conditions to achieve favorable outcomes.
Familiarity with leasing software for efficient management of leases.
Skilled in analyzing financial statements to assess financial health.
Experienced in using Microsoft Word and Excel for documentation and analysis.
Competent in reading and interpreting complex legal documents.
Highly analytical with strong critical thinking abilities to solve problems.
Detail-oriented, ensuring accuracy and thoroughness in all tasks.
Exceptional written and oral communication skills for effective interactions.
Confident in making and handling phone calls in a professional manner.
Brings energy and enthusiasm to the workplace and team environment.
Must be able to work on complex loans.
Must be able to read loan documents
Bachelors in finance or related field is required.
1 - 3 years of experience in credit analysis, financial analysis, or a related field is expected.

Responsibilities

Compile and generate comprehensive reports on finance and credit data.
Review, analyze, and interpret financial information to support decision-making.
Complete and submit loan applications, including detailed credit analyses and summaries of loan requests, to loan committees for approval.
Enhance the quality of credit applications through thorough review and feedback.
Research, identify, and recommend process improvement opportunities to management.
Reconcile customer statements and billing discrepancies to ensure accuracy.
Ensure that collateral is perfected in accordance with approved credit decisions.
Review loan packages for accuracy and completeness, including business entity documents, prior to preparing loan documents.
Prepare documentation for loan modifications, renewals, and extensions.
Read and interpret loan documents to ensure understanding and compliance.
Create and prepare ad hoc documents as required by specific projects or needs.
Enter loan applications into proprietary software systems accurately.
Request and review insurance certificates to verify that collateral coverage is adequate.
Responsible for the origination of simple loans.
Manage and oversee a smaller territory, ensuring the effective administration and servicing of funded loans within that region.