What are the responsibilities and job description for the Processor position at LIONSCOVE?
Why you should work at LIONSCOVE:
LIONSCOVE is a direct lender headquartered in Seattle, WA with millions available for originating business purpose loans on residential real estate. We lend nationwide but do most of our loans in WA and CA. We have funded loans in as fast as 2 business days and have a fast and efficient process. We have less than 50 employees and pride ourselves on being a fast-growing entrepreneurial company in a tired industry. We love to challenge the status quo and put people before numbers.
- More career opportunities: We are growing fast and that means faster upward mobility and more opportunities to learn and grow for our employees
- Fulfilling work: We don’t just do loans; we exist for a higher purpose and that results in fulfilling work for our employees. See our core values and vision below.
- Be a part of a family: Americans spend more time at work than anywhere else. Our employees are family, and we take care of each other as such.
- Personal Responsibility: The most successful employees are self-starters who excel with limited oversight. They can prioritize the most important items and take the initiative to figure out strategic challenges in their business. They make mistakes, take ownership of those mistakes, and then adjust their strategy to generate improved results.
- Progress over Perfection: We value action over waiting for approval. We value people making the best decision with the information at hand and not waiting for all the data or information. We value asking for forgiveness instead of asking for permission.
- Money as the primary motivator: If money is the primary motivator that determines what actions you take and how you conduct business then this is not the place for you.
- Those that prefer regimented structure: If you want a clear structure of what to do each day and a manual for how to complete each task or you to prefer decision-making to be black and white guideline then we are not the place for you.
- Those who keep thoughts and feelings to themselves: If you are a person that doesn’t like to share or provide feedback in any format (e-mail, messaging app, voice, etc.) or struggles to articulate what you are feeling and why you feel that way then this isn’t the place for you.
LIONSCOVE is a direct lender headquartered in Seattle, WA with millions available for originating business purpose loans on residential real estate. We lend nationwide but do most of our loans in WA and CA. We have funded loans in as fast as 2 business days and have a fast and efficient process. We have less than 50 employees and pride ourselves on being a fast-growing entrepreneurial company in a tired industry. We love to challenge the status quo and put people before numbers.
The Responsibilities of the Role
- Servicing
- Understand boarding processes for all servicing companies in order to effectively board a loan
- Provide supporting documentation to the applicable servicing company during the boarding process
- Complete the boarding process within company designated timeline
- Ensure servicing data has been efficiently recorded in the company software system and company drive
- Monitor servicing platforms according to company cadence and record upcoming maturity dates and delinquencies and document in the company software system
- Pull reports from servicing systems
- Portfolio Management
- Administer notification to borrowers for upcoming maturities, delinquencies, NPLs, and foreclosures and follow up until resolved
- Initiate and see-through foreclosure process for loans moving to foreclosure
- Document the foreclosure process from start to finish
- Record delinquencies, foreclosures, and NPLs within the company software system for management tracking and reporting
- Provide recommendations on how to enhance and streamline existing processes
- Order appraisals to validate property value as needed
- Refer loan modification needs to the applicable department within the company
- Loan Sales
- Underwrite loans according to partner guidelines and buy boxes to facilitate accurate placement of loans
- Maintain up-to-date documentation of rate, policy, and/or underwriting changes and communicates findings with team members
- Submit preliminary data and supporting documentation to partners for approval to purchase
- Compile and ship collateral loan packages on the expected day of delivery for loans approved for purchase
- Facilitate funding process upon transfer among finance team, servicing companies, and partners
- Maintain positive relationships with third-party partners on behalf of the company
- Loan Modifications and Extensions
- Understand processes for loans sold on the secondary market that are requesting a loan modification
- Execute loan modifications with accuracy and send them to applicable parties for signatures
- Maintain daily follow-up with borrowers and management on loan modifications pending signatures
- Notify the servicer of loan modifications and extensions as applicable
- Construction Draws
- Understand draw processes for loans withdraw funds held both in-house and externally
- Order inspections for new draw requests via a third-party inspections company
- Carefully review and execute draw reports and Conditional Waivers and send them to applicable parties for signatures
- Facilitate wires with the finance team on drawing funds held in-house
- Review draw progress for loans sold and loans on the books
- Maintain follow-up with borrowers and third parties on slow draws
- Operate in compliance with laws and regulations
- Duties as otherwise assigned
The Details
QUALIFICATIONS
- Outstanding interpersonal and communication skills
- Responsive and communicative
- Excel in a start-up environment by driving action without being told what to do
- Must be detail oriented with a focus on tactical execution
- Excellent organizational skills
- Excellent verbal and written skills
- High school diploma or equivalent required; bachelor’s degree preferred
- Computer skills including MS Office, Adobe, and Google products
EXAMPLES OF KEY PERFORMANCE INDICATORS CATEGORIES
- Timely boarding of loans
- Delinquency Rate
- Number of loans in foreclosure
- Number of maturity defaults
- Average time to sell off loans
- Average time to fund draws
- Average time to complete loan modification
Job Type: Full time
Work Location: 2018 156th Ave NE Building F, Bellevue, WA 98007 (1-2 times per week) & remote
Benefits: Flexible schedule, health benefits, and paid time off available
Availability: 40 hours weekly - Mon – Fri from 8:30 to 6:00 p.m.
Compensation: $45,000 - $55,000 DOE (Hourly $21.00-$26.00)
Charities we Support: LIONSCOVE is committed to being an active part of our community. As such we are involved with the following charities through donations of time and financial resources:
- A Soldier’s Journey Home: https://www.asoldiersjourneyhome.org/
- Adventure Soccer: https://adventuresoccer.org/
Business Core Values
Vision Statement: To enrich lives, one relationship at a time.
Niche: Creating opportunities through real estate by becoming the most dependable private lender in the U.S.
Relationships drive Revenue:
- We believe relationships drive revenue. We listen to focus on your needs first and uncover ways to add value to your life. The power of building our relationship with you in this manner is that opportunities and deals naturally materialize, and we both thrive.
- We believe simplicity is the highest form of sophistication which is why we are transparent, direct, and focused on delivering value. Our approach is simple, but our intellectual capacity is not. We remain at the apex of everything we do.
- We continually develop a network of influential people and enrich their lives. In doing so, we create organic opportunities to connect them to each other for mutual benefit. That means that if you have a problem, we’ll connect you to the person who can solve it.
- We make critical decisions promptly by asking the right questions and going beyond surface-level assumptions. We replicate this process daily by conquering new circumstances as we advance our vision. We are not bogged down in seeking perfection. We drive forward.
- We empower people to make decisions that spark joy, whether you are an investor, borrower, or employee. You make a choice to be a part of our world, and we honor that by doing what we say when we say we will do it. We eliminate ambiguity by leading through choice and holding ourselves accountable.
- We challenge the way things are done in our industry to bring equitable outcomes to all involved. We are the Alpha leading the pride to a Golden Horizon, ushering in its bright future. WE. WON’T. STOP. REFORMING.
Salary : $45,000 - $55,000
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