Collateral Specialist

Columbus, OH
Operations
Full-time
About Lendeavor:

Lendeavor is the first and only technology-enabled lender to healthcare practices. We disrupted banks by bringing together a team of software engineers, computer scientists, financiers, lawyers, credit risk experts, and academics to build a digital financing experience that’s 10 times better than the status quo. Since making our first loan in mid-2016, we’ve rapidly become a leading lender in our space.

We’re on a mission to become the first and only digital healthcare bank. Our first step was to make streamlined business financing (for example, a $750,000 loan for a dentist to buy her first practice) available to busy healthcare practitioners at their convenience -- instead of during the typical 9-to-5 banker’s hours. Our communities depend on doctors and their valuable time, so the hours we save them from archaic bank application and closing processes have an enormous impact. On the back end, our software makes our team more efficient at processing -- without the overhead of a brick-and-mortar presence -- saving doctors even more time and money.

About the role:

We're looking for an experienced, enthusiastic, team-oriented collateral expert to join our fast-growing, Columbus-based loan operations team. Reporting to our Loan Operations Manager, you'll be our first hire dedicated solely to collateral management. From UCC filings, amendments, and terminations to commercial mortgages to purchase-money security interests to collateral assignments of life insurance policies, you'll have the opportunity to shape process, increase efficiency, and drive the direction of a function that's fundamentally critical to the strength and value of our fast-growing portfolio.

What you'll do:

    • Be responsible for ensuring that all of our loans are properly collateralized in accordance with the collateral structure outlined by the credit team
    • Create and execute process to drive 100% collateral accuracy (we can't have a single funded loan without perfected collateral)
    • Develop outstanding communication and trust with our team of closing officers and operations specialists
    • Collaborate with our product and engineering teams to build clean, lightweight collateral management functionality into our loan origination software
    • File various types of UCC liens using LienSolutions
    • Monitor all filings for our existing portfolio to make sure our lien positions are never compromised
    • Make sure that whenever we pay off a secured creditor as part of a loan closing, every known lien is tied unambiguously to a payoff statement -- and always be on the lookout for cross-collateralization
    • Execute collateral assignments of life insurance policies in a timely fashion
    • Draft lien subordination agreements from templates
    • Order Phase I environmental reports, ALTA surveys, appraisals, and other CRE-related diligence
    • Work closely with title and escrow companies to help execute flawless CRE closings

What we're looking for:

    • 3+ years of experience in commercial lending, in a loan operations, fulfillment, funding coordinator, or collateral-related role at a bank or lending company
    • Deep understanding of collateral concepts and terminology (you love talking UCC-1s, UCC-3s, PMSIs, etc.)
    • Previous experience dealing with payoff letters, lien filings, and Secretaries of State
    • Passion for prioritizing and organizing
    • Comfort learning new software systems
    • A maniacal focus on getting it right every time (you understand the gravity of funding a $1 million loan without perfected collateral)
    • The ability to develop systems that include others (everything needs to work just as well when you're on vacation)
    • An understanding of when to involve your manager or counsel if tricky questions or judgment calls arise

Not required, but nice to have:

    • Experience in healthcare practice lending
    • Experience at a title or escrow company
    • Previous experience with real estate closings, title insurance, and mortgages
    • Familiarity with LienSolutions
    • Familiarity with LaserPro loan documentation software
    • Experience reading credit memos to understand deal structure
Lendeavor is an equal opportunity employer and dedicated to diversity and inclusion in the workplace. We do not discriminate on the basis of race, religion, color, national origin, sex, gender, gender identity, sexual orientation, age, marital status, pregnancy status, veteran status, or disability status.