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Quality Control Specialist - SBA Lending

ReadyCap Lending offers a positive and diverse work culture incorporated with people who are passionate about their careers. We pride ourselves in being viewed as a premier place to work and encourage you to view our Quality Control Specialist (SBA) opportunity.

Job Summary:

  • Assist quality control manager with the following: development, implementation and management of quality control systems designed to ensure continuous production of qualified loan packages consistent with established ReadyCap Lending standards as well as SBA standards. 
  • Perform due diligence on loan file and documentation received from Originations.
  • Verify all loan data is complete and accurate in RCL’s Loan Servicing Systems.
  • Review all post-closing loan files in order to verify that all loans are properly documented according to ReadyCap Lending and SBA approvals and policies/procedures.
  • Ability to prepare, review and make determinations on acceptability of loan closing documents. 
  • Interact with closing counsel and deal team to make sure that necessary documentation required for loan file was obtained.
  • Must exhibit expertise on the content of standard loan closing documents.
  • Assist in preparation and processing of loan collateral files for shipment to off-site facility.
  • Assist in preparation of loan documents for loan sale to secondary market.
  • Coordinate with offsite collateral custodian(s) for safe keeping of collateral documents.

Summary of Essential Job Functions:

 

  • Assist Quality Control Manager in all file review and internal quality control processes and procedures.
  • Complete file and loan data reviews and accurately record loan compliance with all policies/procedures.
  • Assist Quality Control Manager is preparing and issuing periodic Quality Control reports.
  • Understand security perfection and how to explain and train loan closing staff.
  • Ensure all required hazard, contents, liability and/or flood insurance coverage has been obtained on industry required forms naming RCL as mortgagee and/or loss payee and policies are set up with RCL’s vendor to track policies over the life of the loan.
  • Ensure compliance with RCL policies/procedures and  SBA SOPs and regulations
  • Review all required SBA, legal and state specific documents required for loan closing while such items are being compiled by loan closing staff.
  • Responsible for following updated SBA policy notifications when issued.
  • Responsible for reviewing site inspection reports for accuracy and process of the project as well as relaying any unforeseen issues to credit and management
  • Manage productivity by ensuring proper communication with loan closing staff as well as other members of the Credit, Portfolio Mgmt & Post Close Review department.
  • Provide assistance with portfolio acquisition due diligence
  • Adhere to turn time requirements.
  • Provide Pre-Close reviews according to RCL loan polices, when requested.

 

Primary Success Measurements:

  • Average of 48 hour turn around for review of all pre-closing packages.
  • Overall file review accuracy as determined by Quality Control Manager.
  • Quality control error percentage.

Significant Decisions and Recommendations:

  • Ability to make independent decisions on a daily basis relating to loan files.
  • Exercise discretion in reviewing, analyzing and determining closing requirements. 
  • Regularly exercise discretionary powers and independent judgment in decision-making in order to accurately complete all loan file due diligence.
  • Ability to independently determine what is required to perfect security interest in collateral and decide when loan file is ready to close.

Education and/or Experience:

  • Bachelor Degree preferred.
  • Paralegal Certificate preferred.
  • Minimum of 5-10 years of commercial mortgage lending experience and/or relevant work experience in a functional role required or equivalent combination of education and experience.
  • SBA Loan Closing or SBA Quality Control experience preferred.

 Knowledge and/or Skills:

  • Knowledge of the SBA SOP
  • Operate standard office equipment/computer.
  • Proficient in Microsoft Office Suite, working with Word and Excel or similar spreadsheet software.
  • Type accurately at a speed necessary to meet the requirements of the position.
  • Organize work, set priorities and exercise sound independent judgment within established guidelines.
  • Interpret, apply, explain and reach sound decisions.
  • Ability to maintain files and records.
  • Ability to prioritize and perform multiple tasks.
  • Ability to answer loan document related questions from borrowers and referral sources.
  • Excellent interpersonal skills.
  • Detail oriented.

Language Skills:

  • Ability to read and comprehend instructions, short correspondence, and memos.
  • Ability to write basic routine reports and correspondence.
  • Ability to interact effectively with management, other employees, and customers as needed.
  • Diplomacy in dealing with internal and external clients.
  • Excellent communication skills.

Mathematical Skills:

  • Basic credit skills required.
  • Ability to perform basic calculations such as to add, subtract, multiple, and divide.

Reasoning Ability 

  • Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
  • Ability review information and solve problems quickly.
  • Strong ability to manage time.
  • Achievement oriented, takes initiative, and ability to take direction.
  • Strong organizational skills.

As an approved SBA lender, ReadyCap Lending, understands the financing needs of small and growing businesses. Our knowledgeable experts take pride in delivering customized 7(a) and 504 loans to help businesses thrive and prosper.

With concierge-like personal attention, ReadyCap Lending is set apart by its credit decisions, processing speeds and common-sense, solution-oriented underwriting.  We see lending differently!

ReadyCap Lending offers a full range of benefits, including competitive salary, comprehensive health plans to choose from including dental, vision coverage, company-paid life & disability insurance policies, business casual dress and a great culture!

ReadyCap Lending is an equal opportunity employer (EOE)!

 


 

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