SBA Loan Specialist

Department: Operations

Location: Remote

Description

Grasshopper Bank is a client-first, digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources.

We are a highly experienced team who pride ourselves on diversity of thought and perspective. Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking.

Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership. We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect.

Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged, and successes are celebrated. We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services.

Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston.

What You'll Do

The SBA Loan Specialist will perform a variety of servicing functions related to Small Business Administration and USDA loans. Will work directly with and frequently interact with a wide range of parties, including borrowers, lending and credit staff, Finance, insurance and title companies, and other third-party vendors. The position will be responsible for internal and external servicing requests, ensuring SOP requirements are met as well as adherence to internal credit policy and procedures.

Responsibilities Include

• Responsible for overseeing the regular and extraordinary servicing of the SBA loan portfolio.
• Work closely with Closing and Credit teams to ensure compliance with all SBA loan requirements for the life of the transaction.
• Performs all SBA related servicing tasks, including but not limited to disbursements, billing, payment processing, payoffs, and boarding of new SBA loans onto the bank core system when loan has closed and funded.
• Work closely with SBA Portfolio Management for deferral requests, delinquencies, purchase from FTA, submission of Universal Purchase Package.
• Perform post-closing review ensuring file completeness, including 10-tab format.
• Maintain and collection of post-closing exceptions. Document follow-up efforts and complete all action items, verifying collateral documentation has been recorded or has been sent for recording.
• Complete and submit the monthly 1502 report and interim activity reporting, prior to FTA deadlines.
• Excellent communication and analytical skills
• Assist the SBA Portfolio Manager with loan modification requests including but not limited to collateral swaps and subordinations.
• Verify the loan has been disbursed in adherence to the SBA Terms and Conditions (fka Authorization) by reviewing against SBA Settlement Statement form 1050, Escrow Settlement Statement, and internal fee disbursement sheet.
• Reconcile all General Ledger and DDA's associated with SBA loans.
• Ensure insurance coverage is verified and documented along with establishing tracking for follow up efforts, addressing outstanding or expiring coverage requirements.
• Submit final SBA 159 form to SBA through E-Tran (CAFS).
• Work with SBA Team loans sold on the Secondary Market. Book and reconcile required entries upon receipt of loan sale proceeds.
• Assist with OCRM Monitoring and Risk based Reviews/Exam.
• Work with Borrower, Construction Consultant, and other third parties to review and approve draw requests to fully disburse loan funds, ensuring adherence to loan terms and conditions.
• In addition to the primary responsibilities outlined, required from time-to time to perform other duties and responsibilities as needed to support Grasshopper Bank's goals and objectives.
  
  

What You Need

• 5 years or more of SBA Loan Operations experience
• Advanced knowledge of lending principles and procedures with solid understanding of legal documentation
• Well-versed in SBA rules, regulations, and standard operating procedures. Including Servicing and Liquidation.
• Highly organized and motivated with ability to handle multiple tasks concurrently with minimal supervision and as a team
• Superior customer service skills
• Problem solving skills
• Ability to prioritize work and work independently
• Self-motivated and excellent attention to detail
• Ability to meet designated deadlines while remaining flexible to changing assignment