Loan Workout Manager directs and manages a team of professionals in restructuring commercial loans. Works with lending personnel and borrowers to better secure collateral and/or assets of the borrower. Being a Loan Workout Manager is responsible for collecting potential loans that are viable. Develops programs and manages strategies to reach performance goals. Additionally, Loan Workout Manager provides guidance and oversight on high complexity or challenging loans. Requires a bachelor's degree. Typically reports to a head of a unit/department. The Loan Workout Manager typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. To be a Loan Workout Manager typically requires 3+ years of managerial experience. (Copyright 2024 Salary.com)
Summit Funding, Inc is one of the oldest still privately owned top 50 national mortgage lenders. When Todd Scrima, our owner and CEO founded our company in 1995 his dream was not to be the biggest, but to strive to be the best. In 2022 we were proud to play a part in making the dream of homeownership a reality for over 10,000 people. Our growth mindset, positive culture, and history of stability are just a few things that position our company as a leader in the mortgage industry.
Benefits and Perks:
At the core of Summit Funding’s values is a partnership. We partner with communities, our home buyers, our referral partners, and our employees, and we’d love to explore partnering with you as a celebrated addition to our team of successful Mortgage Loan officers.
The strength and success of our partnerships are evidenced in our ranking year after year as a top 50 national mortgage lender. It is our job to make sure you succeed. You will have direct access to Leadership, highly skilled trainers, coaching, a cutting-edge marketing team, top-of-the-line technology and recruiting support, in-house processing, superior underwriting, and closing teams along with additional knowledgeable support staff to help you grow your business.
What our Loan Officers are responsible for:
Summit Funding's compensation structure provides you the opportunity to earn based on your performance.
Depending on experience and location Summit Funding Loan Officers may be classified as outside sales exempt employees and are paid 100% commissions on the loans originated and closed, or non-exempt employees and are paid minimum wage as a factor of commissions on the loans originated and closed. The commission rate ranges between 50 to 150 basis points per loan depending on position, experience, and location.
All your information will be kept confidential according to EEO guidelines.
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