Loan Servicing Associate

Job Description

Job Description

Position: Loan Servicing Associate

Who We Are:

Renovo Financial is a rapidly growing Chicago-based private lender serving real estate investors who acquire and renovate single and multi-family residential properties. We pride ourselves on supporting clients by providing unparalleled service, from the loan application through the payoff. Renovo’s reliability and “win-win” solutions- oriented approach is just two reasons why our repeat and referral rates far exceed the industry average. Renovo was honored to be named one of Crain’s 50 fastest-growing Chicago companies. Come join us, its “win-win!”

Position Summary:

The Servicing Department’s primary responsibility is to manage all transactions throughout the life of a loan post-closing. The Loan Servicing Associate is responsible for processing all transactions related to the loan in the servicing system. This entails utilizing several different sources of data and coordinating with other members of the Servicing Department and with other aspects of the business. In this capacity the Loan Servicing Associate must demonstrate an ability to work both within the Servicing Department and across other departments to complete required tasks in a timely and accurate manner. Proficiency in Microsoft Office is required and experience with Salesforce is a plus. The role of the Loan Servicing Associate encompasses the following responsibilities:

• Intake collateral from newly closed loans
• On-board newly closed loans
• Input and maintain loan terms and escrow accounts
• Manage daily draw disbursements
• Manage maturity default interest tracking and enter default interest charges
• Make payment entries for loans with interest reserves
• Process monthly payments and statements
• Draft loan modifications, extensions, and releases
• Draft payoff statements while accounting for any fees, holdbacks, or special conditions
• Process received payoffs
• Coordinate with accounting team for balance discrepancies
• Receive mail related to loan servicing
• Take calls from title companies and customers
• Manage customer service inquiries as needed
• Other duties as assigned

Ideal Candidate:

The ideal candidate for this role will have:

• Preference of someone in the Chicagoland area as this is a hybrid work from home – in-office position.
• Ability to multi-task while maintaining high attention to detail
• Manage daily tasks and prioritize workload independently
• Ability to interface with all levels of the organization from loan closers to senior management
• Team-player that will work to find solutions
• Strong problem-solving and critical thinking skills
• Previous experience in loan servicing is a plus but not required
• Proficiency in Microsoft Office is required
• Experience with Salesforce is a plus
• Experience with real estate a plus but not required

Behavioral Characteristics:

• Self-Motivated: You take on tasks without waiting to be told what to do

• Positive Attitude: You approach situations with a proactive and positive attitude
• Determined: You stay on course even during difficult assignments and you crave opportunity for advancement
• Team Player: You believe that to be successful you need to leverage and trust your team. You lead by example.
• Openminded: Always seeks to find and develop creative solutions

Renovo Financial is an equal opportunity employer. Renovo Financial does not discriminate in any employment actions (including hiring decisions) with regard to race, color, religion, national origin, citizenship status, ancestry, age, sex (including sexual harassment), sexual orientation, gender identity and expression, marital status, disability, military status or unfavorable discharge from military service or any other characteristic protected by law.

Renovo offers a 401k plan with employer matching, paid time off, observance of company paid holidays, medical, dental, vision benefits for employees and their dependents, maternity benefits and more.