SBA & USDA Loan Servicing Specialist

GENERAL DESCRIPTION OF POSITION

The SBA and USDA Loan Servicing Specialist performs operational support duties related to the processing, closing, funding, reporting, packaging and selling of the Guaranty, and servicing of SBA & USDA Loans. This position maintains accurate system records, customer service, payment postings, and reconciliations. The Loan Servicing Specialist enters loans into the CAFS/ETRAN for SBA Approval as well as Terms & Conditions. 

ESSENTIAL DUTIES AND RESPONSIBILITIES

1. Review loan closing documents for accuracy and work closely with borrowers, loan officers, attorneys, and SBA Portfolio Managers to clear exceptions and schedule closings. Prepare settlement statements, secure approval for wire transfers, and ensure complete and accurate booking by uploading documents into nCino and verifying entries in Bankway/IBS. 

2. Prepare unsold loan reports and submit investor requests as well as bid packages for approval to sell the guaranteed portion of SBA 7a and USDA loans. Finalize and submit sale documents to investors, including the 1086 Agreement, and send confirmations to the President/CLO to initiate accounting allocations. Notify the appropriate Region of the completed loan guaranty sale.

3. Process secondary market bids and sales, and post cash Items to the SBA DDA/Investor account.

4. Prepare the packages for sold loans, execute the 1086 Broker Agreement, submit to broker, SBA, Department Manager.

5. Transfer funds to the appropriate General Ledgers (GLs) or Demand Deposit Accounts (DDA) for SBA & USDA wires.

6. Prepare, edit, research, and maintain FTA 1502 reporting, including supervising Loan Servicing Assistants (1502 Reporters) and supporting on going servicing processes. 

7. Provide customer service to lenders and SBA & USDA Portfolio Managers, CRE-Construction Department, including answering inquiries related to loan files, account balances, and payoff requests for SBA 7a and USDA B&I loans.

8. Submit SBA loan deferment and modification documents to loan servicing and E-Tran. 

9. Assists portfolio managers with preparation of loan servicing actions and E-Tran servicing adjustments.

10. Prepare and send borrower notices regarding late payments, collection, default, and liquidation. Notify the Loan Officer and Portfolio Manager of any concerns, such as site inspections, updated financials, or modification requests submitted and assist with follow-up actions as directed.

11. Contacts the Loan Officer or Collateral Site Inspection vendor to perform required site inspections for all loans more than 50 days past due; and annual site inspections as required by the SBA Standard Operating Procedure (SOP).

12. Reviews fully funded loans for documentation exceptions and reports the loans to the SBA & USDA Loan Servicing Specialist and Supervisor. Monitor construction loans for fully funded and Certificate of occupancy (C.O.) status.

13. Responsible for processing SBA payments including Subsidiary and PPP program as well as overseeing PPP related training and supervision of Loan Servicing Assistants.

14. Process loan payments for SBA 7a and USDA B&I loans. 

15. Updates and monitors the SBA Watch List for all SBA & USDA loans.

16. Orders valuation updates on real estate collateral (RIMS or Desktop Valuations) and Business Valuations/FFE/M&E and 4 COP/Liquor License in Florida ONLY. 

17. Obtains loan payoffs for borrowers, and Centennial Bank employees, including Loan Officers, Loan Officer Assistants, Credit Risk Management personnel.

18. Track and resolves technical exceptions. 

19. Prepares and maintains procedures for job related duties.

20. Establishes loan tickets and pipeline reports.

21. Travel as required or requested by management. 

22. Complete required BSA/AML training and other compliance training as assigned. 

23. The ability to work in a constant state of alertness and in a safe manner.

24. Perform any other related duties as required or assigned.

RESPONSIBILITIES FOR WORK OF OTHERS

Supervises a small group (3-7) of employees, usually of lower classifications. Assigns and checks work; assists and instructs as required and performs same work as those supervised, or closely related work, a portion of the time. Content of the work supervised is of a non-technical nature, but presents numerous situations to which policies and precedents must be interpreted and applied.

SUPERVISORY RESPONSIBILITIES

SBA & USDA Loan Servicing Assts

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

EDUCATION AND EXPERIENCE

Broad knowledge of such fields as accounting, marketing, business administration, finance, etc. Equivalent to a four year college degree;  2 years related experience and/or training, and 12 - 18 months related management experience.

COMMUNICATION SKILLS

Ability to read, analyze, and understand common scientific and technical journals, financial reports, and legal documents; Ability to respond to complex or difficult inquiries or complaints from customers, regulatory agencies, or members of the business community.

MATHEMATICAL SKILLS

Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane, algebra, solid geometry and trigonometry.

CRITICAL THINKING SKILLS

Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables.

REQUIRED CERTIFICATES, LICENSES, REGISTRATIONS

SBA 1502 Reporting to the FTA
Advanced level of computer and mathematical skills
SBA System-CAFS/ETRAN
NAGGL (SBA 7a Courses)

PREFERRED CERTIFICATES, LICENSES, REGISTRATIONS 

Previous Banking experience
SBA 7a and SBA 504 experience (SBA SOP)
USDA B&I/Agricultural knowledge
Secondary Market/1086 Agreement

SOFTWARE SKILLS REQUIRED

Basic: Alphanumeric Data Entry, 10-Key

Intermediate: Presentation/PowerPoint, Database, Accounting

Advanced: Word Processing/Typing, Spreadsheet

WORKING CONDITIONS

Normal working conditions as found within an office setting, wherein there is controlled temperature and a low noise level, plus a minimum of distractions.

ENVIRONMENTAL CONDITIONS

The following work environment characteristics described here are representative of those an employee encounters while performing essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 

The noise level in the work environment is usually moderate. 

PHYSICAL ACTIVITIES

The following physical activities described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions and expectations. 

Highly-repetitive, low physical. Highly repetitive type of work which requires concentration in the performance of tasks for consistent time cycles as prescribed by the tasks.

While performing the functions of this job the employee is regularly required to sit, use hands to finger, handle, or feel, reach with hands and arms, talk or hear; occasionally required to stand and walk. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision

ADDITIONAL INFORMATION

Not indicated.