Senior Loan Servicing Specialist

Prosper Portland • Portland, OR

291d • Remote

About The Position

The Loan Servicing Specialist is responsible for all new loan boarding, modifications, workouts, and post-closing loan portfolio monitoring in connection with commercial real estate and business loans. You will work closely with Prosper Portland's Investment Manager, loan officers and the accounting team to ensure that all loan servicing activities are conducted and tracked in a timely and accurate manner. When necessary, you will engage with our legal team when delinquent accounts require collection actions. Your role will also involve identifying and resolving discrepancies, preparing reports, and maintaining up-to-date records of all loan transactions. Prosper Portland is looking for an experienced loan servicing specialist to join our team. The position will support our lending team with loan closings and play a vital role in the overall performance of our loan portfolio. Come join our dynamic team! Note: The position is open until filled. For first consideration please apply before April 16th.

Requirements

• Four years of Commercial Loan Servicing experience, or equivalent demonstrated through one or a combination of work experience, training, military experience, or education
• At least one year of loan underwriting experience in a loan servicing or lending role
• An Associate's, Bachelor's, or Master's degree will substitute for up to one year of experience

Responsibilities

• Manage loan closing/boarding process after loan approval, in collaboration with legal and accounting teams
• Review all loan approvals to ensure the closed loan files meet the approval requirements and conditions, and that all necessary loan documentation is in place and properly executed
• Respond to existing loan client inquiries regarding loan terms, payments, and account status in a timely and professional manner
• Monitor loan performance across loan portfolio, including payment history, covenant compliance, and creditworthiness of borrowers
• Request and analyze financial statements annually and perform credit reviews to assess loan health
• Make recommendations to adjust loan risk rating if loan performance declines
• Proactively flag borrower financial health concerns early and often, note deteriorating conditions as well as related ideas for risk mitigation to the Investment Manager and originating loan officer
• Work directly with borrowers to assess business financial condition and structure appropriate loan modification and/or payment plan and monitor compliance with these agreements
• Work with borrowers on subordination requests, extensions or other minor modifications to loan agreements, in collaboration with the originating loan officer and the legal team
• Work closely with the originating loan officer, accounting team, and legal counsel in cases of non-payment or troubled assets, to determine optimal strategy and related documentation required for modifications or collection actions
• Play primary role in managing collection activity for delinquent loans, in close collaboration with legal team and originating loan officer
• Proactively monitor portfolio performance on an ongoing basis; aggregate key metrics and ratios that roll up to quarterly and annual performance dashboard
• Generate reports on loan performance metrics, delinquency trends, and overall portfolio health
• Support Investment Manager in preparation of annual review of loan portfolio to assess overall credit quality
• Support the small business, traded sector and community development teams in the tracking of referrals and completion of technical assistance required as condition of loan modifications
• Evaluate effectiveness of technical assistance longitudinally over time
• Collaborate closely with lending and accounting teams in the development, launch and execution of portfolio management innovations
• Identify process inefficiencies and propose potential solutions
• Conduct periodic audits of loan files to ensure accuracy and compliance

Benefits

• Normal working hours Monday through Friday [8 AM - 5 PM] in a combination of in-person and remote work
• Local travel to external meetings, community outreach, site visits or events

What This Job Offers

• Job Type: Full-time
• Industry: Professional, Scientific, and Technical Services
• Education Level: Bachelor's degree