ABOUT REINVESTMENT FUND:
At Reinvestment Fund, we are dedicated to making a tangible difference in the lives of underserved individuals and communities. Our mission is to create opportunity for underserved people and places through partnerships. We marshal the capital, analytics, and expertise necessary to build strong, healthy, and more equitable communities.
As a federally certified community development financial institution (CDFI), our job is to make finance an agent of positive change and equitable growth. We provide loans, grants and technical assistance to businesses and nonprofits. Our borrowers and grantees educate students, support local economies, and create jobs. They build affordable housing and provide community goods and services that include access to nutritious food, hunger relief, physical and mental health care, and other social services.
ABOUT THE POSITION:
Reinvestment Fund seeks an inquisitive problem solver with strong data analysis skills to join our team as a Loan Servicing Specialist. This role is an essential part of the Lending Administration Department’s credit administration function providing borrowers, investors and staff accurate information about loan accounts and payments. This is an opportunity to work in a fast-paced environment as part of a small, close-knit team servicing roughly 500 social impact loans across the United States.
RESPONSIBILITIES:
- Interact directly with internal and external customers to effectively communicate servicing activities and alerts. This includes initiating and receiving telephone calls, email in Microsoft Outlook, messages in Microsoft Teams.
- Enter loan data and daily cash activity on the loan servicing system.
- Prepare and process payments for loan participants, loan-related fees and expenses.
- Initiate the transfer of funds in and out of Reinvestment Fund controlled accounts for loan disbursements and ACH loan payments.
- Prepare and/or adjust monthly billing statements and amortization schedules as directed using templates.
- Review and reconcile accounts related to loan fees, interest reserves, unapplied funds, etc.
- Review draft versions of proposed new notes, participation agreements and other legal contracts to check compliance with loan servicing standards.
- Translate information from legal documents and financial statements into data for entry into a loan servicing system.
- Maintain the functionality of the loan servicing system.
- Review data entered in the loan servicing system against loan documents to confirm accuracy.
- Create and maintain collateral records within the loan servicing system that accurately reflect the collateral held along with the documents that support that collateral.
- Perform loan support functions as required, including the ongoing imaging and indexing of loan files and documents.
- Other duties as assigned.
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