ReadyCap Commercial, LLC

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Associate, Loan Funding Specialist

at ReadyCap Commercial, LLC

Posted: 8/9/2019
Job Status: Full Time
Job Reference #: I6SgnHsSDA

Job Description

Ready Capital offers a positive and diverse work culture incorporated with people who are passionate about their careers. We pride ourselves in being viewed as a premier place to work and encourage you to view our Associate, Loan Funding Specialist opportunity.


Job Summary:

  • Review Draft Commitment Letter vs Letter of Interest
  • Review File to ensure warehouse items are present
  • Will be introduced to title at time of engagement / Engage Title and Escrow Services
  • Will work with title and counsel to ensure they are ready for closing / Engage Legal Services
  • Send Draft and Final Commitment Letters from Freddie to Counsel as received for review.
  • Send RCC Commitment Letter to Counsel
  • Make sure borrower signature pages and lender signature pages are in process and then received by Counsel in advance of closing
  • Obtain approval from Counsel for rate lock
  • Request rate lock from credit/underwriting
  • Audit loan files/ familiarize self with loan file when Draft Commitment Letter is received (or after submission to FM – depending on volume and time management) to familiarize themselves with the fil
  • Review LOI to confirm fee structure (flat fee, borrower pay, etc.)
  • Prepare the funding package for review and approval.  Provide Lender figures to Escrow and submit final package to accounting
  • Work directly with Warehouse Lender and Counsel to prepare for loan funding
  • Manage Warehouse Funding Schedule for each loan
  • Audit CLOSER system and update as needed prior to loan funding
  • Review settlement statement from escrow/title for accuracy against our statement of fees
  • Ensure all taxes/insurance/invoices are paid at closing
  • Review closing documents to confirm terms match the Final Commitment Letter
  • Finalize Loan File Checklist with funding items received prior to the post closing audit (Closer should still input all other items on the checklist and finalize remaining file folders before the funder completes their portion)
  • Other projects and tasks as may be assigned by management

Education and/or Experience:

  • Bachelor’s Degree preferred.
  • Minimum of 1-2 years commercial mortgage lending experience and/or relevant work experience in a functional role required, or equivalent combination of education and experience.


Ready Capital (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans. We specialize in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York City, Ready Capital employs over 400 lending professionals nationwide.

Ready Capital offers a full range of benefits, including competitive salary, comprehensive health plans to choose from including dental, vision coverage, company-paid life & disability insurance policies, business casual dress and a great culture!

Ready Capital is an equal opportunity employer (EOE)!