Loan Workout Officer jobs in Detroit, MI

Do you have a proven track record of creating lending solutions for your clients and a desire to assist buyers in obtaining the property of their dreams? If so, we’d love to talk with you about joining our team! Lend-A-Loan is growing and we're on the lookout for a talented individual to help lead our sales team to new heights.

Responsibilities:

• Manage a team of 4-6 LO's and LOA's
• Warm lead transfers
• Originate and process loan applications for clients seeking financing for various purposes
• Gather necessary financial information and documentation from clients to complete loan applications
• Evaluate loan applications and determine eligibility based on established criteria
• Conduct thorough analysis of clients' financial status, credit history, and collateral to assess risk and make informed lending decisions
• Collaborate with processors and underwriters to ensure compliance with lending guidelines and regulations
• Provide exceptional customer service by addressing client inquiries, explaining loan options, and guiding them through the loan process
• Negotiate loan terms and conditions with clients to reach mutually beneficial agreements
• Coordinate with loan processors to ensure timely and accurate completion of loan documentation
• Stay updated on industry trends, regulations, and best practices related to loan origination and processing

Qualifications:

• Minimum of 18 months of experience in loan origination
• Strong knowledge of loan processing procedures, including documentation requirements, underwriting guidelines, and regulatory compliance
• Proficient in using loan origination software/systems to manage client information and track loan progress
• Familiarity with basic math principles for calculating interest rates, payments, and other financial metrics
• Excellent communication skills to effectively interact with clients, colleagues, and other stakeholders involved in the loan process
• Detail-oriented mindset with the ability to analyze complex financial information accurately
• Proven ability to work independently while adhering to established policies and procedures

Job Type: Full-time

Pay: $85,000.00 - $200,000.00 per year

Benefits:

• Dental insurance
• Health insurance
• Opportunities for advancement
• Paid time off
• Referral program
• Vision insurance

Compensation package:

• Bonus opportunities
• Commission pay

Payment frequency:

• Paid monthly

Schedule:

• 8 hour shift
• Monday to Friday
• No weekends

Work setting:

• In-person
• Office

Work Location: In person