Loan Servicing Associate I

Position Purpose

The Loan Servicing Associate is responsible for managing a variety of duties necessary for the effective servicing of Government Guaranteed Commercial Loans, with the opportunity to manage critical lender relationships. Responsible for providing quality customer service after loans have closed and funded through payoff, coordinating collection of payments, and reconciling accounts.  The Loan Servicing Associate will respond to inquiries and/or initiate communication with clients and third parties (e.g. Windsor clients (banks), insurance agents, attorneys, CPA’s etc.), exercising discretion and judgement for the necessary decisions associated with the essential functions below.

Position Responsibilities

• Exhibit a detailed understanding, application and adherence to Loan Servicing policies and procedures. Oversee and ensure policies and procedures are being followed in compliance with regulatory and bank guidelines.
• Manage the complete, accurate and auditable electronic supporting documentation packages for all functions that are performed.
• Manage the servicing lifecycle of a loan from funding through payoff. This includes managing effective relationships with borrowers and lenders, reviewing requests for loan modifications to transition to the Portfolio Management group; providing borrowers with billing notices, amortization schedules, rate change notices, and year end interest statements upon request and reviewing payment activity with the borrower to ensure questions are addressed.
• Create and provide Portfolio Loan Reports to lenders monthly, reviewing the data and accuracy of these reports with a high attention to detail. Scheduling meetings or phone calls with lenders to review the Portfolio Loan Reports as needed.
• Manage the Loan Servicing inbox for all requests from borrowers, lenders, or the SBA relevant to the servicer’s assigned portfolio.
• Prepare loan payoff letters as requested by borrowers, lenders, or third parties as needed.
• Enter appropriate notice into the SBA’s FTA portal for loans that intend to pay off, mitigating risk to the company by ensuring that the notice remains active through payoff.
• Exhibit a familiarity and understanding of all SBA Loan Servicing polices (SOP 5057).
• Proficiently use the PCFS2000 Loan Manager system (Loan Manager) for proper servicing of each loan within the servicer’s portfolio.
• Review all DDA sheets, autopay, and lender correspondences monthly to ensure all borrower loan payments are entered into the system of record, as well as monitor the lender servicing account for returned payments.
• Prepare and review lender 1502 reports to ensure accuracy and submission to the SBA’s FTA monthly.
• Prepare lender monthly reporting and provide (via email) to banks.
• Prepare “Billing Notices” and provide them to borrower (via email or USPS).
• Review applicable loan closing documents to obtain data points needed for accurately onboarding new loans into the system of record. Review final onboarding details for accuracy and deliver onboarding notification to lender.
• Review loan participations for accuracy and address issues with lender as needed.
• Ability to calculate simple interest in order to explain payment splits and interest rate changes to borrowers and lenders.
• Manage loan servicing phone line daily to answer incoming phone calls and answer borrower, lender, or third party questions with a high level of customer service.
• Lender GL reconciliation and payment reconciliations.
• Accurate processing of all payment types including checks processing, ACH, and wire transfers.
• Adhere specifically to all Company policies and procedures, Federal and State regulations, and laws.
• Perform other duties as required.

Minimum Education & Experience

• Bachelor’s degree or equivalent related work experience.
• Minimum of 1 year of experience in a fast-paced work environment with increased responsibilities.
• Experience working effectively with off-site team members to complete projects.
• Experience with all forms of closing documentation and closing requirements preferred.
• Experience with all SBA product offerings preferred.
• Experience with USDA product offerings preferred.

Technical Knowledge and Skills

• Knowledge of commercial loan products and basic accounting.
• Knowledge of legal and closing documents, insurance documents, construction documents, appraisal documents, and environmental documents preferred.
• Extensive knowledge of SBA/USDA, government guaranteed lending preferred.

Compensation

• Base Salary Range: $18.00- $27.00 hourly. Final determination of where you are at in the salary range is based on numerous factors such as geographical location, relevant experience, skill set, education, and ability to meet qualifications within the job description.
• Additional Compensation: This role will include a yearly annual target bonus based on individual performance.
  
  

Working Arrangements

• This is a hybrid role expected to work in office Monday, Wednesday, and Thursday. You will be able to work remotely on Tuesday and Friday. In our Indianapolis or Charleston offices .
  
  

Why Join Us?

• Join a growing company with a culture that fosters an entrepreneurial spirit
• Comprehensive benefits package including Medical, Dental, Vision, Company Paid Life Insurance, Disability Insurance, and more?
• Company Contributions to your 401k - Regardless of your contribution
• Employee Perks: Paid Parental Leave, Employee Recognition Program, Leadership Program, Tuition Reimbursement Program, Employee Bank Checking Account, and much more!
• Generous Paid Time Off and Paid Holidays - Including Paid Charity Hours to support volunteer opportunities