Open Position: Loan Portfolio Coordinator

Reports to: Chief Financial Officer

Supervisory duties: No supervisory duties

Job Type: Full-time, exempt, hybrid work environment

Location: Kirkland, WA

Pay range: $70,000 - $80,000 annually

About Us

We’re Rain City Capital–a private real estate lender. We put our borrowers first, which is how we’ve built our business almost exclusively on word-of-mouth referrals. No two workdays are the same, so our team is comprised of individuals who aren’t afraid to roll up their sleeves and take care of business. Our office is energetic, fun, and committed to leading the industry by putting the relationship before the transaction.

About You

You’re experienced in real estate with loan processing, capital markets, secondary marketing, or post-closing experience with a proven track record of creative problem solving, good judgment and risk assessment, and a focus on customer relationships. You’re driven, tech-savvy, easily adaptable to industry changes, and are comfortable with ambiguity in a fast-growing workplace. You’re relentlessly proactive and organized, and pitch in to help your team members when they need it.

About the Job

This role is about managing and leveraging funded loans to the best advantage of the company.  Being pro-active in determining where the best opportunities lie for pledging, selling or holding loans.  The job requires attention to detail in managing the needed documents, system input, reconciliation, quality control and needed reporting.  Good customer service skills are also needed to work closely with Note Buyers, Banks and inter-company departments. In addition to working directly with the CFO and CEO, this position works very closely with the Director of Operations, Funding and the COO as additional primary business partners.

Roles & Responsibilities

  • Coordinate and initiate Note Sales including:

    • Creating loan sales lists

    • Loan level document exception clearing

    • Creating sales reconciliations and monitoring transfer of funds to conclude the sales

    • Accurately completing required loan sale documentation and shipping said documentation to ensure timely finalization of sales.

    • Prepare Servicing Released Data Tapes when needed

    • Informing appropriate Inter-company Depts and Servicing Company of Note Sales

  • Borrowing Base Support:

    • Maintain Borrowing Base in Dynamics by correctly and timely input of Note pledging to applicable bank. 

    • Send Bank Data Tapes and request funds as needed

    • Managing Collateral Package Shipments

    • Audit and Monitor Document Custody at third parties or in-house to ensure all documents are accounted for

    • Review and ensure accurate billing for custody services at least quarterly

  • Support external real estate loan portfolio funds, such as RC Fund II, RC Short Term Income Fund, etc.

    • Track and calculate Draw Reimbursements

    • Calculate and transact Payoffs 

    • Assist in required reporting

  • Monitoring and processing Unleveraged Loans

    • Assist in determining if loans are best to pledge, sell or process through external portfolio funds

    • Ensure all unleveraged loans are property denoted in Dynamics

SKILLS AND ATTRIBUTES

  • 5+ years experience in mortgage or lending operations.

  • Bachelor’s degree or equivalent work experience required. Education or experience should include a working knowledge of basic accounting, lending, and systems administration.

  • Possess a good understanding of mortgage lending documents.

  • Commitment to building relationships with customers, vendors, team members and investors.

  • Excellent problem-solving skills involving good judgment and risk assessment in a fast-paced environment.

  • Possess great attention to detail and high degree of accuracy.

  • Must be a dependable self-starter

  • Take initiative to bring change and process efficiency

  • Excellent grammatical, oral communication, writing, spelling, and proofreading skills, with ability to express yourself clearly and effectively in writing.

  • Strong knowledge of MS Windows, MS Teams, MS Excel spreadsheets and MS Word processing.

Other duties, responsibilities, and activities may change or be assigned at any time with or without notice. The employee in this position must be able to read, write, speak and understand English with exceptional fluency.

Rain City Capital offers a hybrid work environment, which means employees perform their duties remotely or in person and will be expected to check email, phone, and text messages throughout the day and respond in a timely fashion consistent with a normal company workday. This role must be willing to commute to our local office on a weekly basis, at a minimum of 3 days a week.

To apply, please send your resume and cover letter to careers@raincitycapital.com

Posted 4/16/2024