Loan Servicing Coordinator
Minnesota Council of Nonprofits, Saint Paul, Minnesota, United States, 55199
Overview
Position Title:
Loan Servicing Coordinator Reports To:
Communications and Marketing Manager Status:
Regular, Full-time, Non-Exempt (Hourly) Starting Salary:
$21.00 to 23.00 hourly Organization Overview:
Exodus Lending is a nonprofit founded in 2014 with a mission to work with financially excluded Minnesotans to advance economic justice through consumer lending, community organizing, and advocacy. We strive to create a financial system where everyone - particularly those who’ve been historically and systemically excluded - can access, protect, and build wealth. Through our small dollar lending programs - in particular, our flagship 0% interest Predatory Debt Refinancing program - we extend credit and capital to communities throughout Minnesota. Exodus Lending is actively growing to expand its programming across Minnesota, including working to become a certified Community Development Financial Institution (CDFI). As an equity-centered organization with a small and hybrid team, collaboration and open communication is essential. Position Summary
This Loan Servicing Coordinator will collaborate with the existing Loan Servicing Coordinator to serve all enrolled borrowers (“Participants”) throughout repayment on their loan(s). This role involves data entry and customer service. The position ensures a high standard of quality for all loan data, including payment entry and regular communication with participants. With meticulous attention to detail and excellent record-keeping skills, they ensure data is reported accurately. Given the high level of engagement with participants who have historically been shut out of mainstream lending, this role exemplifies patience, empathy, and kindness in their approach and is someone who is willing to build relationships and help participants navigate Exodus Lending’s program. They are passionate about advancing racial equity and economic justice. Responsibilities
Program Data Management (60%) Perform general data entry related to Participant loan payments, including: Post loan payments into our loan management software, DownHome Solutions (DLM), and general accounting platform, QuickBooks;
Post missed payments and late codes in DLM and track failed payments in Quickbooks;
Scan and upload bankruptcy notices, payment receipts, and other Participant-related documents into participant databases;
Adjust individual profiles and status codes as needed in DLM.
Oversee the progress of Participants throughout loan repayment, including: Track and disburse monthly earned incentive payments through Sunrise Banks and records transactions in QuickBooks, DLM, and Salesforce CRM;
Monitor Participants in delinquency and charge-off any loans that have reached the 180+ days delinquent status as per the charge-off policy;
Monitor “graduating” Participants who successfully repaid their loan and update their status in DLM and Salesforce CRM.
Leads the process of fulfilling regulatory requirements and commitments as Credit Reporters with the Credit Builders Alliance (CBA), including: Prepare and send the Metro 2 file each month CBA;
Resolve credit disputes from Participants as needed, in close collaboration with direct supervisor and other staff members.
Transfer money to and process payments from Participants through our loan pool bank account (Sunrise Banks), including: Initiate a monthly Automated Clearing House network (ACH) bank to bank collection for qualified participants or one-time ACH collections of loan payments as needed;
Initiate a monthly ACH batch for earned incentives or one-time ACH payments for loan payoffs/disbursements or refunded loan payments as needed.
Maintain digital filing systems for Participant data.
Participant Support (30%) Respond promptly and compassionately to direct inquiries from Participants via phone or email.
Provide technical payment support to Participants, including: Creating and/or canceling one-time or recurring payments, linking a bank account, or other troubleshooting issues in the DLM online payments portal.
Supporting the use of alternative payment options as needed, including debit card payments with Yevma Tech, ACH payments, or check/money orders.
Provide ongoing communication with Participants in Salesforce CRM, including: Sending monthly payment reminders by email or text to all active Participants;
Notifying any Participants of missed and/or final payments;
Promptly responding to and resolving any credit disputes;
Working with Participants as needed on modifying the terms of their existing loan or updating their information to ensure successful repayment as aligned with established program policy and procedures.
Other duties (10%) Participate in weekly staff meetings and check-ins with their supervisor.
Stay current and informed on other lending and nonprofit programs available to support participants in reaching their financial goals.
Represent Exodus Lending in the community, as needed.
Assist in and support the overall efforts of the organization, as needed, including: Share stories of participants (with consent) with the team for use in advocacy, communications, outreach, and development functions of the organization.
Ensure the privacy of participants' personal and confidential information.
Qualifications
Associate's degree or equivalent OR 2+ years relevant work experience
Experience with loan management and/or accounting software a plus
Superior organizational skills and meticulous attention to detail
Demonstrated experience collaborating effectively with people of diverse racial, ethnic, economic, and cultural backgrounds.
Excellent interpersonal skills and ability to explain complex concepts empathetically in highly emotional situations.
Tech-savvy and proficient with Google and/or Microsoft applications and comfortable learning new software and technologies such as Salesforce.
Proactive and self-directed; energized by problem-solving and teamwork and comfortable with continuous learning and change
Benefits: Paid time off, starting with up to 216 hours of PTO days, 10 holidays (5 paid and 5 floating), and 80 hours of Earned Sick and Safe time annually.
Blue Cross, Blue Shield Health Insurance (employer pays 99% of the employee’s premium on base co-pay plan) & Dental Insurance (pays 70% employee’s premium)
Non-custodial SIMPLE IRA retirement plan with 3% match.
Hybrid, flexible work environment working part in the office (all staff are in on Wednesdays) and part remotely.
Up to $600 per year for professional development
How to apply:
We are committed to the principles of diversity, equity, and inclusion in our work and are particularly interested in receiving applications from those who have lived experiences similar to our program participants.
We are accepting applications on a rolling basis until March 1st, with the priority window ending on February 22nd, when applications will be reviewed. If interested, please send a cover letter and resume to Anika Riewe at anika@exoduslending.org. Equal Opportunity Employer Statement:
Exodus Lending provides equal employment opportunities to all employees and applicants for employment without regard to race, color, ancestry, national origin, gender, sexual orientation, marital status, religion, age, disability, gender identity, results of genetic testing, or service in the military.
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Position Title:
Loan Servicing Coordinator Reports To:
Communications and Marketing Manager Status:
Regular, Full-time, Non-Exempt (Hourly) Starting Salary:
$21.00 to 23.00 hourly Organization Overview:
Exodus Lending is a nonprofit founded in 2014 with a mission to work with financially excluded Minnesotans to advance economic justice through consumer lending, community organizing, and advocacy. We strive to create a financial system where everyone - particularly those who’ve been historically and systemically excluded - can access, protect, and build wealth. Through our small dollar lending programs - in particular, our flagship 0% interest Predatory Debt Refinancing program - we extend credit and capital to communities throughout Minnesota. Exodus Lending is actively growing to expand its programming across Minnesota, including working to become a certified Community Development Financial Institution (CDFI). As an equity-centered organization with a small and hybrid team, collaboration and open communication is essential. Position Summary
This Loan Servicing Coordinator will collaborate with the existing Loan Servicing Coordinator to serve all enrolled borrowers (“Participants”) throughout repayment on their loan(s). This role involves data entry and customer service. The position ensures a high standard of quality for all loan data, including payment entry and regular communication with participants. With meticulous attention to detail and excellent record-keeping skills, they ensure data is reported accurately. Given the high level of engagement with participants who have historically been shut out of mainstream lending, this role exemplifies patience, empathy, and kindness in their approach and is someone who is willing to build relationships and help participants navigate Exodus Lending’s program. They are passionate about advancing racial equity and economic justice. Responsibilities
Program Data Management (60%) Perform general data entry related to Participant loan payments, including: Post loan payments into our loan management software, DownHome Solutions (DLM), and general accounting platform, QuickBooks;
Post missed payments and late codes in DLM and track failed payments in Quickbooks;
Scan and upload bankruptcy notices, payment receipts, and other Participant-related documents into participant databases;
Adjust individual profiles and status codes as needed in DLM.
Oversee the progress of Participants throughout loan repayment, including: Track and disburse monthly earned incentive payments through Sunrise Banks and records transactions in QuickBooks, DLM, and Salesforce CRM;
Monitor Participants in delinquency and charge-off any loans that have reached the 180+ days delinquent status as per the charge-off policy;
Monitor “graduating” Participants who successfully repaid their loan and update their status in DLM and Salesforce CRM.
Leads the process of fulfilling regulatory requirements and commitments as Credit Reporters with the Credit Builders Alliance (CBA), including: Prepare and send the Metro 2 file each month CBA;
Resolve credit disputes from Participants as needed, in close collaboration with direct supervisor and other staff members.
Transfer money to and process payments from Participants through our loan pool bank account (Sunrise Banks), including: Initiate a monthly Automated Clearing House network (ACH) bank to bank collection for qualified participants or one-time ACH collections of loan payments as needed;
Initiate a monthly ACH batch for earned incentives or one-time ACH payments for loan payoffs/disbursements or refunded loan payments as needed.
Maintain digital filing systems for Participant data.
Participant Support (30%) Respond promptly and compassionately to direct inquiries from Participants via phone or email.
Provide technical payment support to Participants, including: Creating and/or canceling one-time or recurring payments, linking a bank account, or other troubleshooting issues in the DLM online payments portal.
Supporting the use of alternative payment options as needed, including debit card payments with Yevma Tech, ACH payments, or check/money orders.
Provide ongoing communication with Participants in Salesforce CRM, including: Sending monthly payment reminders by email or text to all active Participants;
Notifying any Participants of missed and/or final payments;
Promptly responding to and resolving any credit disputes;
Working with Participants as needed on modifying the terms of their existing loan or updating their information to ensure successful repayment as aligned with established program policy and procedures.
Other duties (10%) Participate in weekly staff meetings and check-ins with their supervisor.
Stay current and informed on other lending and nonprofit programs available to support participants in reaching their financial goals.
Represent Exodus Lending in the community, as needed.
Assist in and support the overall efforts of the organization, as needed, including: Share stories of participants (with consent) with the team for use in advocacy, communications, outreach, and development functions of the organization.
Ensure the privacy of participants' personal and confidential information.
Qualifications
Associate's degree or equivalent OR 2+ years relevant work experience
Experience with loan management and/or accounting software a plus
Superior organizational skills and meticulous attention to detail
Demonstrated experience collaborating effectively with people of diverse racial, ethnic, economic, and cultural backgrounds.
Excellent interpersonal skills and ability to explain complex concepts empathetically in highly emotional situations.
Tech-savvy and proficient with Google and/or Microsoft applications and comfortable learning new software and technologies such as Salesforce.
Proactive and self-directed; energized by problem-solving and teamwork and comfortable with continuous learning and change
Benefits: Paid time off, starting with up to 216 hours of PTO days, 10 holidays (5 paid and 5 floating), and 80 hours of Earned Sick and Safe time annually.
Blue Cross, Blue Shield Health Insurance (employer pays 99% of the employee’s premium on base co-pay plan) & Dental Insurance (pays 70% employee’s premium)
Non-custodial SIMPLE IRA retirement plan with 3% match.
Hybrid, flexible work environment working part in the office (all staff are in on Wednesdays) and part remotely.
Up to $600 per year for professional development
How to apply:
We are committed to the principles of diversity, equity, and inclusion in our work and are particularly interested in receiving applications from those who have lived experiences similar to our program participants.
We are accepting applications on a rolling basis until March 1st, with the priority window ending on February 22nd, when applications will be reviewed. If interested, please send a cover letter and resume to Anika Riewe at anika@exoduslending.org. Equal Opportunity Employer Statement:
Exodus Lending provides equal employment opportunities to all employees and applicants for employment without regard to race, color, ancestry, national origin, gender, sexual orientation, marital status, religion, age, disability, gender identity, results of genetic testing, or service in the military.
#J-18808-Ljbffr