What are the responsibilities and job description for the Draw Coordinator position at Dominion Financial Services?
Job Description:
Dominion Financial Services (DFS) is a mortgage originator for single family real estate. DFS originates two main loan products – a short term bridge loan for fix & flip investors, and a long-term rental loan for landlords growing their rental portfolios. DFS is thriving in the current competitive environment and shows aggressive quarterly growth. Our current origination volume is $70MM per month. DFS is looking for a detail-oriented Draw Coordinator to join our growing team.
Our Company's Core Values:
Dominion Financial Services (DFS) is a mortgage originator for single family real estate. DFS originates two main loan products – a short term bridge loan for fix & flip investors, and a long-term rental loan for landlords growing their rental portfolios. DFS is thriving in the current competitive environment and shows aggressive quarterly growth. Our current origination volume is $70MM per month. DFS is looking for a detail-oriented Draw Coordinator to join our growing team.
Our Company's Core Values:
- Integrity
- Accountable & Dependable
- Team Centric
- System & Process Oriented
- Service Ethic
- Organized Efficiency - risk management & compliance
- Work together with the Draw Administrator to handle all aspects of the draw process, from initial borrower requests and organizing inspections to submitting for fun disbursements.
- Review draw requests submitted by borrowers, contractors, and other stakeholders for completeness and accuracy.
- Collaborate with internal departments to verify project progress, invoices, and other documentation.
- Ensure compliance with loan terms and conditions in the disbursement of funds.
- Maintain accurate records of all draw requests, approvals, and disbursements.
- Organize and file project-related documents, including invoices, contracts, and inspection reports.
- Track and monitor draw balances, ensuring that funds are appropriately allocated.
- Act as a liaison between borrowers, inspection companies, and internal teams to facilitate communication and resolve any draw-related issues.
- Coordinate initial underwriting and draw-related inspections with third-party vendors as necessary.
- Provide timely updates to borrowers and stakeholders regarding the status of their draw requests.
- Conduct thorough reviews of invoices and documentation to ensure accuracy and compliance.
- Provide inspection company/vendor oversight and report back issues to management.
- Identify and report any discrepancies, concerns, or potential issues related to the drawing process.
- Continuously assess and improve draw workflows to enhance efficiency and effectiveness.
- Collaborate with cross-functional teams to implement best practices and streamline procedures.
- High School diploma or GED required. Two-year degree in business, finance, or related field preferred.
- Minimum 3 years of mortgage lending, loan documentation or related job experience in the financial industry.
- Proficient in MS Office particularly MS Excel and MS Word.
- Must possess excellent analytical and problem-solving skills, be detailed oriented with a commitment to a high level of data integrity and accuracy.
- Knowledge of General Ledger balancing and common banking transactions.
- Health insurance
- Dental insurance
- Vision insurance
- 401(k)
- 401(k) matching
- Paid time off
- Company outings & social events
- Virtual events
- Companywide competitions and raffles
- Personal financial workshops
- Orioles season tickets
Salary : $65,000
