Loan Servicing Assistant

Job Description

Job Description

LOAN SERVICING ASSISTANT JOB DESCRIPTION:

***Please read this description thoroughly and note starting/hiring wage is NOT the same as full wage range.***

Reports To: Portfolio Manager

FLSA Status: Non-Exempt

Starting/Hiring Wage: $36,500 - $42,723.5 annually

Full Wage Range: $36,500 - $48,947 annually - Midpoint and above is reserved for existing employees who have longevity with Northwest Business Development and consistently exhibit outstanding performance over a period of time in the role.

See Full List of benefits below for our complete compensation package.

JOB SUMMARY: This position is responsible for monitoring and servicing of the VENTURES tracking/tickler and Paid Loan functions of NWBDA. This involves working with borrowers and third-party lenders to ensure timely receipt of payments, financial statements, and job creation statistics. In addition, the position is charged with providing payoff information, supporting site visitation efforts, and maintenance of proper real estate and personal property lien filings.

ESSENTIAL JOB FUNCTIONS :

The essential functions of the position include but are not limited to the following:

• General loan servicing.
• Monitor tracking/tickler systems in Ventures for annual financial statements, ensuring all financial information is obtained and sufficient for others to perform a risk rating of each portfolio loan. Ensure all requests for financial statements are promptly and properly communicated to borrowers and/or guarantors if needed. Upload financial information to our data management system (BMI) upon arrival. Work closely with the Portfolio Analyst on any loans with delinquent financial statements.
• Monitor tracking/tickler systems for UCC filings, ensuring all continuations are filed timely to avoid loss of lien priority.
• Monitor tasks/tickler system for interim lien releases, ensuring all prior third party liens are released putting NWBDA/SBA in the proper lien position.
• Monitor tracking/tickler systems for site visits, ensuring site visits are conducted at the appropriate time for various levels of loan status. Verify that all loans are accounted for on a monthly basis.
• Monitor tasks/tickler systems to ensure all jobs created or retained are certified by the borrower at the 2 year anniversary of the debenture funding as required by SBA Loan Program Requirements.
• Prepare accurate payoff statements when requested by borrowers or third parties.
• Release all collateral documents within 30 days of delivery of requested SBA documentation, ensuring proper documentation from SBA is scanned into BMI, with a hard copy in file. You will forward the original documents to the borrower. You will pull and archive the physical files for all loans paid in full;
• Ensure all duties mentioned above are entered accurately into the Loan Management System (VENTURES+) and the Document Management System, (BMI).
• Establish tracking/tickler in VENTURES+ for destruction dates of Portfolio files when boxing files up at year end, to include Paid in Full. (Approved but Cancelled, Withdrawn and Cancelled loans are handled in the Processing department.)
• Assist Portfolio Manager regarding delinquent loans.

ADDITIONAL RESPONSIBILITIES :

• Make recommendations to NWBDA Portfolio Manager for procedural changes to promote efficiencies within the company.
• Treat others with respect and the way you would like to be treated.
• Keep commitments.
• Attempt to attend all meetings where your presence is requested by management.
• Assist with other requests or duties as requested by management.
• Comply with all Northwest Business Development Association’s policies and procedures.
• Uphold organizational values.
• Inspire the trust of others.
• Work ethically and with integrity.
• Accept responsibility for your own actions.
• Attempt to attend all training classes/webinars provided by NWBDA that will benefit your current or future positions with NWBDA.

MINIMUM QUALIFICATIONS FOR CONSIDERATION :

• High School Diploma
• Knowledge of Real Estate Title Insurance and Commercial Real Estate lending and documentation
• Ability to multi-task

KNOWLEDGE, SKILLS, AND ABILITIES:

• Strong proficiency in PC applications including Windows, MS Word, MS Excel. Experience in SBA 504 VENTURES, a plus.
• Ability to maintain a high degree of confidentiality.
• Good verbal and written communication skills.
• Good team building and interpersonal skills: able to work well with a wide range of people in various positions within the company.
• Good coaching skills.
• Strong organizational and time management skills.
• Demonstrate dependability through good attendance and adherence to timelines and schedules.
• Good follow through on projects and deliverables.
• Strong analytical and problem solving skills.
• Demonstrate resourcefulness and ability to take initiative in development and completion of projects.
• Strong sense of customer service.

PHYSICAL REQUIREMENTS:

This position is sedentary and requires the following physical activities:

• Sitting for long periods of time; occasional bending, squatting, kneeling, stooping; good finger dexterity and feeling; frequent repetitive motions; talking, hearing and visual acuity.
• Frequent lifting (up to 25 pounds of paper supplies or minor office equipment).

WORKING CONDITIONS :

Office environment.

General Benefit Description:

• Full time employees are covered by medical, dental, vision and life insurance.
• Employees are immediately eligible to enroll in and contribute to the company's 403(b) retirement plan and are eligible for a discretionary employer match (100% up to $5k Annually) the month following their six-month anniversary.
• Full time employees will also accrue vacation at the rate of 3.08 hrs/pay period for a maximum of 10 days in the first year of employment.
• Full time employees receive 12 paid holidays throughout the calendar year in addition to a number of 1/2 days the day before some major holidays.
• Employees earn 1.384 hours of paid sick leave for every 40 hours worked.
• Full time employees earn 2 hours of PTO per month in addition to vacation and sick leave.
• Upon successful performance of both the employee and the company there is potential for an annual bonus. **This position is not eligible for per-file bonus/commissions.

Northwest Business Development Association's Mission is to promote small business success, job growth and community economic strength by serving as the Northwest's premier resource connecting borrowers and lenders with Government enhanced capital asset financing.

Company Description

Northwest Business Development Association's Mission is to promote small business success, job growth and community economic strength by serving as the Northwest's premier resource connecting borrowers and lenders with Government enhanced capital asset financing.