Back to jobs
Loan Servicer
Chicago, Illinois, United States
Great Place to Work Certified, October 2024 - October 2025 USA
Overview
Evolving from SmartBiz Loans, a leading provider of small business loans, SmartBiz Bank offers a broad range of business banking solutions to small businesses across the U.S. – solutions built specifically to serve the dynamic needs of entrepreneurs and foster the growth of the small business community. SmartBiz Bank’s commitment to transparency and personalized customer service offers an unparalleled banking experience, ensuring small businesses have the financial services they need to grow and thrive. Headquartered in Chicago, IL, with offices in Austin, TX and San Francisco, CA, we are excited about serving our local and national Small Business Community.
Overview:
The Loan Servicer is responsible for a variety of servicing functions related to commercial loans. The Loan Servicer will frequently interact with internal and external customers, including borrowers, lending and credit staff, insurance, title companies and other third-party vendors. The Loan Servicer will work with the lenders and portfolio managers to monitor and resolve exception tracking items related to the loan.
Primary Responsibilities:
- Maintain, manage and track all pending/outstanding loan documents and exceptions.
- Utilizes the tickler system to monitor UCC continuations, collateral and business insurance, and real estate taxes.
- Performs post-closing review of executed closing package and ensures file completeness.
- Communicate with third parties on outstanding loan items.
- Collaborates with assigned portfolio manager on applicable servicing actions and assists with ongoing file management.
- Performs loan servicing functions to monitor UCC continuations, collateral and business insurance and real estate taxes.
- Tax and Insurance monitoring/processing to include escrow set-up, analysis, and data remittance to 3rd party vendors.
- Process mandatory annual escrow analysis and any one-off manual escrow analysis; including the process of any escrow maintenance and property tax payments to various counties.
- Conduct research to resolve loan requests and issues. Communicate with internal and external customers to provide resolution.
- Responsible for calculating and generating payoff letters and preparation and mailing of loan statements.
- Support management by investigating and correcting problems and assist with internal departmental cross-training and loan support projects and audits, as needed.
- Perform backup functions as required to support the Loan Operations team. Adhere to all policies and procedures while performing backup functions.
- Other duties as assigned.
What we are looking for:
- At least 3 years’ experience working in loan servicing.
- Basic knowledge of commercial loan documentation requirements
- FISERV Premier experience preferred.
- Skilled in Microsoft Word, Excel and Outlook preferred.
- Thorough knowledge of regulatory, documentary, and statutory requirements in Commercial Real Estate and Commercial and Industrial Lending and Loan Administration.
- Ability to prioritize duties and work independently.
- Self-motivated with excellent attention to detail.
- Ability to meet designated deadlines while remaining flexible to changing assignments.
- Must be able to work in a team environment and contribute to building a positive team atmosphere.
- Customer service and experience oriented.
Opportunities & Benefits We Will Provide:
- Help redefine small business banking
- Competitive salary and equity in a fast-growing start-up
- 100% paid medical, dental, and vision benefits for employees and their domestic partners and dependents
- 100% paid life and disability insurance
- Flexible vacation policy
- 401k plan
More About SmartBiz Bank:
- 60% + of the loans funded by our banks are for women-owned, minority, or veteran businesses
- Great Place to Work Certified, 2022 - 2025
- American Banker's Best Places to Work in Financial Technology in 2017, 2020, 2021, 2022, and 2023
- Rated "excellent" by TrustPilot review website
- The company has raised $47 million in venture funding. Investors include Venrock, Investor Growth Capital, and First Round Capital.
--
SmartBiz Bank is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law.
California residents can learn more about how we use your information by visiting https://sites.google.com/view/smartbizloans-employment-ccpa
Apply for this job
*
indicates a required field