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Loan Packaging Specialist III

Company: Lendistry
Location: Tustin
Posted on: June 5, 2024

Job Description:


Lendistry is the country's largest minority-led and technology-enabled small business and commercial real estate lender with Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certification. We are a national employer whose mission is to provide economic opportunities and progressive growth for small business owners and their underserved communities as a source of financing and financial education.


  • Reviews initial submitted package of all minimum required documents (MRD's) to determine initial qualifications are sufficiently met for identified loan structure (product).
  • Discusses details of the customer questionnaire to fully understand and be able to communicate around what the business does, the loan purpose (how the need arose), the use of funds (specifically what will the borrower do with the money), the current debt obligations (validate) and all net income sources that would be relied upon for loan repayment (debt service coverage
  • Confirm any licenses and/or other authorizations of the company to operate the business to ensure we have a viable business to submit to credit.
  • Confirm all collateral (to the extent) able to ensure collateral is eligible and all parties in agreement to the pledge of the collateral.
  • Collect all necessary documentation (e.g. leases, list of tenant improvements, landlord waivers, bankruptcy discharge, IRS repayment plan agreements, contractor bids, purchase invoices, etc.) to support the loan request.
  • Ability to structure package to fit within minimum requirements of products available.
  • Knowledge of business fundamentals and the business acumen to perform basic analysis of Business and Personal Tax Returns, Interim Financials, Bank Statements and Debt Schedules, etc.
  • Review file prior to submission to underwriting to ensure that quality of submissions is consistently kept at highest quality (e.g. sound initial decisioning/complete packaging - without missing items) for maximum efficiency.
  • Prepare package for submission to Underwriting in appropriate format.
  • Quick scrub of QCF to ensure loan request meets minimum qualifying criteria.
  • Deep scrub including all third-party reports and client interview/expansion of questionnaire, work up of baseline conditions, and generation of in-depth interview questions.
  • Confirmed in depth qualification of client for loan request.
  • Will assist guidance, processes and or changes needed in the financial documents they are responsible for reviewing and overseeing
  • Requests necessary exceptions from Credit Manager or Chief Credit Officer
  • Submits fully qualified file to Credit for Underwriting assignment within Key Performance Indicators (KPI's) and/or Service Level Agreements ("SLA") timeline.
  • Suspend file where requirements for the loan to move forward in the process are outside the control of Lendistry.
  • Elevate and discuss special situations for handling loans with appropriate team members including the Credit Manager.
  • The Loan Packaging Specialist III is the Lead and manages the work of the Loan Packaging Specialist I and II. PROFICIENCIES
    • Ability to understand and manage complex and urgent transactions
    • Excellent verbal and written communication skills. Excellent organizational capacity.
    • Ability to think creatively and innovatively.
    • Good interpersonal skills with the ability to work effectively with individuals and groups at all organizational levels, ability to work independently and as part of a team.
    • Strong analytical ability with active listening skills.
    • Willingness to adapt to changing business needs and deadlines, including extended work hours. Exhibit a professional, business-like appearance and demeanor. Education and Experience
      • BA/BS from accredited four-year college and 2 years validated experience in commercial loan processing.
      • Five years of validated experience in commercial loan processing in lieu of college degree. Salary
        • $25.00 - $32.00/hourly, depending on experience and location

          Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

          The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Keywords: Lendistry, Tustin , Loan Packaging Specialist III, Other , Tustin, California

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