Loan Processor

Background

Olea is the leading provider of fractional underwriting services to Community Development Financial Institutions (CDFIs) in the United States. Since inception, we have underwritten over $420MM of financing with an average loan amount of $55,614 and an average turnaround of 1.6 business days. 

CDFIs outsource their underwriting to us because we provide trustworthy, straightforward, on-demand financial analysis that aligns with their specific loan policies and occurs in their unique software and systems. Our work increases the capacity of mission-based lenders and safeguards their portfolios while also saving them money. 

We currently operate as a team of three working remotely from across the United States. In addition to providing reliable, consistent underwriting services to CDFIs, we also provide flexible, interesting, and meaningful work for experienced CDFI professionals and motivated individuals looking to enter the space.

Summary

Olea is seeking a part-time Loan Processor for a 10 to 20 hour-per-week role immediately. This is a fully remote hourly part-time position whose primary responsibility is to support our Underwriting team with processing incoming loan files; secondarily, the position will provide general operational support.

We would like to fill this opening as soon as possible. Loan volume varies day to day and week to week, so the right person for this role will be willing and able to adjust their working hours to meet the needs of our business. This position is expected to process an average of 4-5 loans a day, and sometimes up to 15 applications on the busiest days.

This is a 100% remote position with flexible hours Monday through Friday. Employees may set their own schedule, provided it meets the needs of our staff and clients, includes availability for occasional live meetings, and allows for reasonable availability during regular business hours.

Responsibilities

The Loan Processor will be responsible for reviewing each loan application we receive for underwriting within 24 hours of the client’s submission of it to us. The Loan Processor will: 

• Confirm each loan package is complete according to the specific lender’s standards. 
• Process each loan through our Olea Intelligence platform: confirm the data pulled correctly, clean up any extraction issues, and get the file into the client’s format ready for an Olea Underwriter’s full analysis.
• Follow up with the client to let them know the status of the application and any missing documents, ideally within the same business day of submission or first thing next-day for files received late afternoon and evening. 
• Participate (virtually) in internal and client meetings. 
• Support the success and operational efficiency of the rest of Olea’s staff, taking on other work as assigned. 

This individual will have the opportunity to advance quickly with our growing company. Depending on skillset and interest, the person we hire may have an opportunity to grow into a part- or full-time Underwriting role.

Requirements

Required Skills & Qualifications

• Fluency in English
• Familiarity with standard loan packaging documents including business and personal tax returns, credit reports, bank statements, pay stubs, Profit & Loss/Income Statements, Balance Sheets, Personal Financial Statements, etc. 
• Proficiency in Excel 
• Excellent written and verbal communication skills
• Meticulous attention to detail
• High organization and reliability
• Ability to conduct oneself in a professional and polished manner among diverse groups of people 
• Aptitude for working independently
• Knowledge of basic accounting, either by having completed some post-secondary college-level accounting, finance, or economics courses, or equivalent work experience 

Desired Skills & Qualifications

• Proficiency in Spanish
• Experience with SPARK, LoanWell, Presta, Ventures, Lenderfit, or similar loan origination software
• Interest in mission-based small business lending

Compensation and Benefits

This is an hourly, part-time position of 10 to 20 hours per week, with an expected rate of $19 – 32 per hour. Olea offers a 3% SIMPLE IRA retirement match to all employees regardless of part- or full-time status. In addition to offering paid sick and vacation time off, The Olea Group closes for all federal holidays, the day after Thanksgiving, and between Christmas and New Year’s Day each year.

How to Apply

To apply for this position, please email a PDF version of your resume to Amy Collins at [email protected]. In the body of your email, please describe your professional experience and qualifications, let us know what interests and excites you about the position, and tell us something about yourself (a story, quirk, habit, etc.) that demonstrates your meticulous attentiveness to detail. Please do not call us to express your interest in working for Olea. 

Candidates selected to proceed in our interview process will begin by taking a standardized attentiveness to detail test. Please check your junk or spam folder for an email from us after applying to make sure you don’t miss it. 

The Olea Group LLC is an equal opportunity employer and we encourage people with diverse backgrounds and experiences to apply. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.