Job Summary
The Servicing Officer is responsible for processing regular routine and intensive loan servicing actions and liquidations in compliance with SBA 504 loan regulations and guidelines and SBA’s Servicing and Liquidations Matrix while providing excellent customer service and maintaining strong relationships with TMC clients, SBA, Lenders, Brokers, Title and Escrow contacts.
Responsibilities
- Handle various servicing actions which include but not limited to subordinations, loan assumptions, release of guarantors, substitution of collateral and partial release of collateral etc.
- Underwrite and submit servicing actions to SBA in compliance with eligibility and in-line with prudent lending criteria and creditworthiness.
- Generate needs lists and loan documentation, as required.
- Spread and analyze financial information.
- Perform collateral analysis as applicable.
- Present a concise write-up with justifications and recommendations to the SBA for review and approval.
- Review and prepare appropriate SBA loan documentation relevant to specific servicing action for execution.
- Manage assigned liquidation cases.
- Performs complex tasks involving short sales, foreclosures, loan modifications, credit bids, offers in compromise, payoffs and charge-offs.
- Prepares liquidation and litigation plans, workout/modification plans, offers in compromise, wrap-up reports.
- Spread and analyze financial information and/or projections for repayment ability. Present a concise write-up with justifications and recommendations to the SBA for final review and approval.
- Reviews and prepares appropriate SBA loan documentation relevant to specific liquidation transaction for execution.
- Manage client contact. Collect all relevant documentation based on each action.
- Review file data and documents for compliance, accuracy and completeness. Determine if additional documentation is required and/or missing from servicing/liquidation package and provide follow-up.
- Communicate status updates to all parties involved in the transaction and effectively manage expectations and timelines.
- Monitor collections pipeline for all assigned past due and delinquent accounts in compliance with SBA guidelines and internal procedures.
- Review and spread tax returns/financial statements and loan grading according to TMC matrix.
- Prepare and submit CDC Quarterly Reports to the SBA for loans in default/pre-debenture purchase and post debenture purchase status.
- Attend weekly/monthly department meetings and training sessions, as needed, to obtain most current information about changes to SBA policies and procedures
Qualifications
- Bachelor’s degree (B. A.) from four-year college or university; and/or 4-6 years related experience and/or training; or equivalent combination of education and experience.
- 3-5 years of experience in commercial lending practices as it relates to SBA lending with proficient working knowledge of the SBA Standard Operating Procedures (SOP).
- Excellent time management and project management skills.
- Ability to multi-task and prioritize in a fast-paced production environment and deliver excellent customer service with minimal supervision.
- Ability to multi-task and prioritize in a fast-paced production environment and deliver excellent customer service with minimal supervision.
- Excellent attention to detail and accuracy.
- Have a strong analytical ability and utilize critical thinking and judgment on a regular basis.
- Strong people and communications skills are essential. Must be able to interact and cooperate with various personality types and work levels both internally and externally.
- Organized, disciplined thinker with ability to work independently in a fast paced, rapidly changing environment.
- Excellent phone etiquette and customer service skills.
- Strong written communications and email etiquette skills.
- Proficiency in MS Office applications – Word, Excel, Outlook
- Working knowledge of CRM databases. Salesforce experience a plus.
$90K-110K – plus bonus
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This position will give you the opportunity to work in a collaborative and supportive environment where your contributions matter.
If you are interested in joining our team of experts email your resume in MS Word or PDF format to.
We look forward to hearing from you!