Description: Intermediate position focused on growing quality assets.
Principal Responsibilities: Primary objective is to facilitate directly and indirectly the origination of quality assets in the 1-4 family rehabilitation loan segment in the assigned one or more Metropolitan Statistical Areas (MSA). This will require, at a minimum, the following:
DIRECT DEVELOPMENT OF NEW MARKETS:
- Attendance at monthly Real Estate Investor Association and other appropriate trade groups to identify direct customers and/or referral sources. Take full advantage of vendor exhibit, speaking and presentation opportunities.
- Development of strategic relationships with realtors, mortgage and commercial brokers, title companies, banks, attorneys and accountants for referrals. Group presentations and individual meetings for education on all aspects of ReCasa’s underwriting criteria, terms and conditions, information package presentation, origination fee guidelines and marketing suggestions.
- Handle all direct and indirect inquiries for assigned MSAs.
- Insure that all required information is gathered and submitted in a complete package to underwriting for approval. Act as intermediary in obtaining answers to questions generated by underwriting. Review term sheet for all approved deals with the client.
- Physically inspect property as required by underwriter and/or credit committee.
- Work with manager and/or Senior Management in gathering and tracking all necessary data related to loan originations with objective of determining most cost effective and time efficient way of generating loans.
- Participate in sales meetings or events as necessary.
Provide marketing ideas and suggestions to supervisor and/or management team.
Experience: Bachelor’s degree or equivalent experience required; Master’s degree a plus. Typically, must have 3-5 years experience in direct and/or indirect sales and management. Formal commercial and/or consumer credit training required; prior mortgage lending and/or real estate experience a plus.
Reporting Hierarchy: Reports to Regional Manager
Other Skill Requirements: Strong leadership, oral communication, negotiation and presentation skills essential. Professionalism and responsiveness to associates, clients and referral sources a requirement. Must be self-motivated, with the ability to prioritize and meet deadlines. Basic PC skills required, including a basic working knowledge of Microsoft Windows, Microsoft Excel, Microsoft Word and a prior use or familiarity with using e-mail and the Internet.
Other Job Requirements: Must be able to work out of a home office environment, travel and work a non-standard workweek as many networking functions are held during evening hours and/or weekends.
Expense Reimbursement: All reasonable approved business related expenses.
Benefits: Health insurance; long-term disability insurance; eligible for 401 (k) Plan subsequent to one year anniversaries.
Compensation: Commission paid will be as follows for total loan volume generated in assigned territory, calculated on a monthly basis*:
Originated by Regional Manager – Includes deals originated directly with client and through referral sources.
Initial & Repeat Loans
1.00% of loan amount
*Assigned cities shall initially include Cincinnati, OH, Dayton OH, and Louisville, KY. Other similar cities may be added. Additions, deletions and modifications of territories may be made at management’s discretion.
All Commissions are payable monthly following the month that the Commission was earned.
Commissions are not payable for any loan extension or modification.
Commissions are subject to a “claw back” for any loan that is deemed to result in a “loss”.
The Commission Plan shall commence October 1, 2008 until September 30, 2009 and shall be evaluated by management and subject to change on the anniversary or at the company’s sole discretion.
Discretionary Bonus: Associates may be eligible for a Discretionary Bonus that will be paid out periodically for contribution to ReCasa team objectives and/or for participation in the cross selling of other related services and products, including, but not limited to, insurance and brokered loans. This bonus is completely discretionary and may be canceled or modified at any time without notice.
Possible Career Progression: AVP, RVP, and/or Senior Management position TBD.
Testing: All candidates will be subject to drug testing and background checks at a minimum.
The information contained within this job description indicates the general nature and level of work performed by employees within this classification. It is not designed to contain or to be interpreted as a comprehensive inventory of all duties, and responsibilities required of employees assigned to this job.
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