In one sentence
The person or team sourcing and structuring a loan, from first borrower contact through commitment.
The longer version
Originators own the front of the deal: finding the opportunity, structuring terms, and getting to a commitment. They hand off to closers, and a clean handoff sets up a clean close.
Where the originator's structure and the closer's checklist diverge, deals slow down, which is why the term sheet and the request list should speak the same language.
Common questions
- What does a commercial loan originator do?
- Sources lending opportunities, structures the loan with the borrower, prepares the initial credit case, and shepherds the deal to commitment.
- How does the originator hand off to closing?
- Once the loan is approved, the closer or counsel takes over to clear conditions. A clean handoff of terms, contacts and open items prevents the closing from restarting diligence.
- Is an originator the same as an underwriter?
- No. The originator brings in and structures the deal. The underwriter independently assesses its risk and recommends terms and conditions.
Keep reading
- The commercial loan closing processThe five stages from term sheet to funded.
- The commercial loan closing checklistWhat goes on the list and who owns each line.
- The due diligence checklist, built to be runChecklists as systems, not documents.
- Commercial loan softwareWhere this sits in the lending stack.