SBA Loan Servicing Specialist

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 Servicing Specialist will support a broad range of servicing functions related to Small Business Administration (SBA) and USDA loans.

This role will work directly with borrowers, lending and credit teams, Finance, insurance and title companies, and other third-party vendors to ensure timely and compliant servicing throughout the life of the loan.

The position is responsible for handling both internal and external servicing requests while ensuring adherence to SBA SOP requirements, internal policies, and established procedures.

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 while ensuring adherence to SOP requirements, internal credit policy, and established procedures.

Responsibilities include:Oversee routine and complex servicing activities for the SBA and USDA loan portfolio.Partner closely with Closing, Credit, and Portfolio Management teams to ensure ongoing compliance with all SBA loan requirements throughout the life cycle.Process a variety of SBA servicing functions, including, but not limited to disbursements, billing, payment processing, payoffs, funding, and boarding of new SBA loans onto the bank core system.

Support SBA Portfolio Management with deferral requests, loan modifications, delinquency management, FTA repurchases, and preparation/submission of Universal Purchase Package.Conduct post-closing reviews to ensure file completeness and compliance with required documentation and file structure standards, including 10-tab for organization requirements.

Maintain and collection of post-closing exceptions, including documentation tracking, collateral perfection follow-up, and recording validation.Prepare, reconcile, and submit monthly SBA Form 1502 reporting and interimactivity reporting, within required deadlines.Review loan disbursements for compliance with SBA Terms and Conditions (Authorization), including validation against SBA Form 1050, escrow settlement statements, and internal disbursement records.Reconcile all General Ledger and DDA activity associated with SBA loans.Verify and document required insurance coverage and maintain tracking processes for outstanding or expiring insurance requirements.Submit final SBA Form 159 through E-Tran (CAFS).Support SBA loan sales on the Secondary Market, including bidding, coordination,documentation review, and issue resolution.Book and reconcile required entries upon receipt of loan sale proceeds.Assist with OCRM monitoring activities and risk-based reviews/examinations.Coordinate with borrowers, construction consultants, and other third-parties to review and approve construction draw requests in accordance with loan terms andconditions.Perform additional duties and responsibilities as assigned in support of departmental and organizational objectives.What you need:Minimum of 5 years of SBA loan operations experience.Advanced knowledge of lending principles, loan documentation, and servicing procedures.Strong understanding of SBA rules, regulations, SOP requirements, servicing and liquidation processes.Highly organized with ability to manage multiple priorities in a fast-paced environment.Strong analytical, problem solving, and communications skills.Ability to work independently with minimal supervision while also collaborating effectively within a team environment.Exceptional attention to detail and ability to meet established deadlines.Ability to prioritize work and work independentlySuperior customer service and communication skills.Originally posted on Himalayas