SBA Loan Servicing Specialist

Summary

This position is with Waterstone, LSP, LLC, a subsidiary of b1BANK. An SBA Loan Servicing Specialist is responsible for managing and servicing Small Business Administration (SBA) loans. This role involves ensuring compliance with SBA guidelines, processing loan and accounting for loan payments, processing loan modifications, handling customer inquiries, and maintaining accurate loan documentation. The SBA Loan Servicing Specialist collaborates closely with the Managing Director and SBA Servicing Manager.

Specific Job Functions

• Loan Servicing: Process internal and external servicing requests, including loan modifications, payments, payoffs, and disbursements.

• Compliance: Ensure all servicing activities adhere to SBA Standard Operating Procedures (SOP) and regulatory requirements.
• Customer Support: Address borrower inquiries and provide assistance with loan-related issues.
• Documentation: Maintain accurate and up-to-date loan files, including scanning and image retention of loan documents.
• Reporting: Generate and review servicing reports to monitor loan performance and compliance.
• Collaboration: Work closely with other departments and lenders to resolve complex servicing issues and improve processes.

Minimum Job Requirements

• Education: Bachelor's degree in accounting, finance, business administration, or a related field is required. 
• Experience: 4 – 7 years of previous experience in loan servicing is required.
  • 4 – 7 years of experience with SBA loans is preferred but not required.

• Skills: Strong analytical, communication, and organizational skills. Proficiency in loan servicing software and Microsoft Office Suite.
• Attributes: Detail-oriented, proactive, and able to work independently and as part of a team.
• Knowledge of SBA SOP: Familiarity with the SBA Standard Operating Procedures (SOP) for loan programs is preferred, not required.

Equal Opportunity Employer/Veterans/Disabled