Loan Servicing Specialist
Company: Cinnaire Corporation
Locations: Lansing, MI; Detroit, MI; Grand Rapids, MI; Chicago, IL; Indianapolis, IN; Madison, WI; Wilmington, DE
Job Function: Lending/Loan Operations
Background
Who we are
Cinnaire is a mission-driven organization. Our team of more than 150 individuals are united by our core purpose. As dedicated problem solvers, we start each day thinking ‘what kind of difference can we make in people’s lives today?’ and then go about revitalizing communities, empowering individuals and creating economic opportunities.
What we do
We get involved. We spend time on the ground in the communities we serve, getting to know the people, understanding their challenges, and devising out-of-the-box solutions. Ours is a people-first approach to advancing communities. As a community development financial organization, we provide creative capital solutions to projects with high social value that may not otherwise receive support from traditional financial institutions. Our toolkit of services includes programs that lend funds, finance development and manage and build all the components of strong, vibrant communities.
How we do it
We help community development organizations; lending partners and socially motivated investors accomplish goals in underserved communities. We fill gaps in community development funding by leveraging capital from public and private sector organizations and bringing expertise to communities that need it most.
Where we serve
Since 1993, Cinnaire has funded affordable housing developments and community development initiatives throughout the Midwest and Mid-Atlantic states. Headquartered in Lansing Michigan, we have offices in Detroit and Grand Rapids, MI, Milwaukee and Madison, WI; Chicago, IL; Indianapolis, IN; and Wilmington, DE, while providing financial and development support across our nine-state footprint including Michigan, Wisconsin, Minnesota, Indiana, Illinois, Pennsylvania, New Jersey, Delaware and Maryland.
Summary
The Loan Servicing Specialist onboards and services affordable housing and community facility loans through a loan servicing software system. The Loan Servicing Specialist also provides technical assistance and support to internal and external customers, proactively resolving issues and ensuring timely service delivery.
Responsibilities
- Enter loans into loan servicing software; ensure the accuracy of loan data.
- Create loan amortization schedules in the loan servicing system post-closing.
- Perform a variety of loan transactions including posting payments, preparing and posting payoffs, calculating and posting escrow transactions, processing loan disbursements, and completing miscellaneous transfers.
- Oversee and manage payment requests related to property tax, insurance, and repair and replacement reserves for the loan portfolio. This includes monitoring these payments and processing them accordingly.
- Serve as the initial point person for communications with borrowers by preparing direct billing, responding to incoming requests through all communication channels, and creating and disbursing annual loan documentation.
- Perform monthly balance transfers of commercial lending products to the finance department.
- Serve as the back-up internal expert for the organization’s loan servicing software; troubleshoot and resolve issues that arise across loan portfolios.
Requirements
Qualifications and Skills:
- Bachelor’s degree preferred.
- One year of loan servicing experience required.
- Commercial and/or residential real estate lending experience preferred.
- Knowledge of affordable housing and community development desired but not required
Competencies:
- Customer Focus: Stays ahead of customer needs and uses insight to develop new and/or modify client services.
- Diversity Awareness: Identifies the benefits and advantages of harnessing the collective insights from various individuals in the organization.
- Perseverance: Accepts uncertainty by remaining focused and engaged on assignments. Looks for plausible solutions to difficult problems.
- Self-Development: Operates with the mindset to pursue continuous improvement. Embraces career development, learns, and updates skills.
Reporting Relationship: Reports to Manager, Loan Servicing
Supervisory Relationship: None
Physical Requirements:
- The ability to work at a computer for extended periods of time.
Travel Required: Minimal
Compensation and Benefits
Cinnaire offers a competitive compensation package.
Benefits Offered: Medical, Health Reimbursement Account, Flexible Spending Accounts (medical and dependent care), Dental, Vision, Life Insurance, Accidental Death & Dismemberment, Long-Term Disability, Employee Assistance Plan, Pet Insurance, Identity Theft Protection, Paid Mobile Phone Service, Unlimited PTO, Incentive Compensation, 403(b) Plan, and Profit-Sharing Plan.
How to Apply
Cinnaire provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, national origin, age, disability, marital status, status as a Vietnam-era or disabled veteran or any other characteristic protected by law. Cinnaire complies with all applicable federal, state, and local laws, regulations and ordinances prohibiting employment discrimination. Cinnaire is committed to the full inclusion of all qualified individuals. As a part of this commitment, Cinnaire is dedicated to providing access, and reasonable accommodation in its services, programs, activities, recruitment and employment for qualified individuals with disabilities.