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Job Description
Correspondent
"As the Executive VP of Sales and Marketing of Fairway America, I am looking for a limited number of select independent commercial real estate loan officers to enter into Correspondent and/or Affiliate agreements with our company to originate, negotiate and close commercial loans using our funds. We are building a sales channel using strategic relationships with a select group of commercial loan originators and providing them with significant marketing support, underwriting and funding, as well as potential residual income for the right people. We are committed to building a great sales team and providing support, pricing, and a component of ongoing income that is unmatched in the industry. If you are looking to add a significant resource to your portfolio of products while expanding your income, we want to hear from you!"
Matthew E. Raymond, Executive VP Sales and Marketing
The Correspondent/Affiliate Position
In building this sales channel, our goal is to outsource the main consultative selling function of originating, negotiating, and closing the loan to the Correspondents and Affiliates. Our expertise is in providing all of the support needed – branding, marketing, underwriting, funding, and servicing – for a high caliber originator to do his or her job. We want to free up the Correspondent or Affiliate to concentrate on those activities at which they are the best – business development, relationship building, influencing, negotiating and selling. We are seeking experienced independent originators to become Correspondents and Affiliates—our sales team—for whom we can provide a level of true support that is unmatched in the industry. We expect the Correspondent or Affiliate to be able to dig up the lead, negotiate pricing and terms with the client, submit a reasonable package of information for underwriting consideration, follow up throughout the loan process with the borrower and Fairway as the inevitable issues arise, and deal with those issues with the borrower through the closing as necessary.
In return for these skills, Fairway will provide wholesale pricing to the Correspondent and Affiliate. We provide a reduction in our standard fees so that the Correspondent or Affiliate can keep more of the overall points being charged to the borrower. Correspondents and Affiliates can also buy fees down by succesfully negotiating other aspects of the loan. Correspondents (not Affiliates) can also earn residual income over time as they build up a portfolio of closed loans with Fairway. Yes, you can earn ongoing income on loans that have been previously closed and are being serviced by Fairway America! You originate and negotiate loans and we underwrite, fund and service them while providing you marketing and sales support through our sophisticated online tracking systems.
For the A-player looking for something special and who can answer "yes" to all of the following questions, this is the opportunity for you.
- Are you an experienced and knowledgeable originator of commercial real estate loans?
- Do you understand how to work with hard money borrowers? How to find them, how to deal with them, how to get deals closed?
- Do you love doing deals but get tired of the administrative aspects of the process?
- Do you like open and direct communication, clear and mutually established priorities and expectations, and a culture of accountability?
- Are you professional and results driven, and committed to win?
- Do you have a passion to succeed?
- Are you looking for wholesale pricing from a reliable source of funds in the commercial hard money segment of your originations?
- Are you looking for an opportunity to earn ongoing residual income from your efforts without having to work as an employee for a company?
If you answered "yes" to these questions, we want to meet you!
Correspondent/Affiliate Responsibilities
- Originate transactions through your referral contacts and business development efforts in your community.
- Provide qualified leads and preliminary packages to Fairway for underwriting consideration.
- Interact extensively with the borrower to work the loan request and move it through the sales pipeline.
- Ask questions, analyze needs and determine critical motivations of potential borrowers.
- Customize lending structures and solutions when appropriate based on needs, objectives, and motivations of your borrowers.
- Quote and negotiate pricing and terms with borrower while working with Fairway as necessary.
- Determine in conjunction with Fairway if/when to issue a Conditional Loan Approval (CLA).
- Obtain signed CLAs and deposits from borrowers.
- Work directly with Fairway to ensure borrower conditions are being received in a timely fashion.
- Handle borrower objections, challenges and issues that arise (and they will arise) during the process.
- Participate in Fairway training programs to enhance our relationship and improve your ability to originate and sell our product to your customers.
- After closing of your deals, provide support to Fairway if needed when any loans in your portfolio have collection problems.
- Meet agreed upon minimum production requirements in order to qualify for residual compensation. (Varies based on status of Correspondent or Affiliate)
Qualifications
Successful Correspondents and Affiliates with Fairway America will have most or all of the following experience:
- Core Values that are very similar to Fairway's (see below)
- Ability to communicate effectively in person, in writing, and over the phone.
- Ability to effectively manage multiple priorities and significant loan pipelines.
- Minimum 3-5 years lending experience with some portion of that experience in commercial real estate and/or hard money lending.
- Proven track record of success as an originator.
- Strong computer skills.
- In depth knowledge and understanding of the company's underwriting and pricing guidelines (training provided).
- Some k nowledge and understanding of commercial real estate lending, including basic property valuation.
- Competitive attitude and a desire to win.
- Belief in long-term relationships and a mentality of abundance.
Support and Benefits provided by Fairway America
Fairway America is committed to creating and supporting an outstanding group of Correspondents and Affiliates who share, demonstrate, and live our core values. Take pride in working with a company that lives its core values, vision and mission/purpose and is committed to providing tangible value and benefit to its Correspondent and Affiliate channel relationships.
The level of support provided by Fairway varies based on one's status as an Affiliate or Correspondent. Affiliate benefits include:
- Wholesale pricing and reduced fees .
- Ongoing training and development both online and in person.
- Limited marketing support including flyer creation and monthly email blasts.
- No restriction on originating with other lenders
- Ability to build a franchise like relationship and corresponding benefits but without the franchise fees
Correspondent benefits include all of the above benefits, as well as:
- Enhanced level of marketing support to assist Correspondents in origination efforts. Includes:
- branding
- development/maintenance of a web page
- bi-weekly email blasts
- 800 number campaigns
- campaign tracking
- customized flyer creation .
- Ongoing residual income to high producing Correspondents based on size and performance on their closed loan portfolio serviced by Fairway.
Our Company
Fairway America is a successful Portland, OR owned and privately funded commercial real estate lending and investment firm. Through a simplified and streamlined process, Fairway America provides financing solutions for people who are unable or unwilling to get financed by more traditional lending sources. Everyday, Fairway America helps borrowers solve difficult problems, meet pressing deadlines, or take advantage of excellent opportunities. While assisting these borrowers, we also enable our investors to earn above average returns they are unable to get elsewhere. Even while many brokers and lenders have gone out of business or are struggling mightily, our conservative lending approach has enabled us to weather this storm and positioned us to take advantage of unprecedented market opportunities while helping people who are otherwise unable to locate financing.
At Fairway America, we are committed to our core values:
- Focused, Driven and Committed
- Accountable & Responsible
- Interdependence & Collaboration
- Respect, Trust, & Integrity
- Winning Attitudes
- Approachable, Open Communication
- You Make Fairway Fun!
We are seeking Correspondents and Affiliates who share these values. We also believe deeply in a Win-Win mindset in all of our relationships. We will be happy to discuss these ideas in more detail with qualified Correspondent and Affiliate candidates.
These values are alive at our company and we live them every day while pursuing our purpose of "Honorably doing worthwhile deals that create value, wealth, dignity and superior returns for all parties involved." If a deal is not worthwhile for everyone (our borrowers, investors, Correspondents, Affiliates and us), we'd rather not do it at all.
Apply
If you feel you are an "A player", are up for our challenging, demanding, and rigorous recruitment process, and would like to formalize a relationship with a dynamic, growing company, please submit your cover letter and resume to start the application process. All candidates must complete the application process to be considered.
