Servicing Analyst
5 days ago
Cherry Hill
Job Description:\n\n Who We Are: Based in New Jersey and established in 2010, Asset Based Lending, LLC (“ABL”) is one of the nation’s leading Hard Money Lenders. We provide fast bridge financing to real estate investors for the purchase, renovation, or new construction of single family, multi-family and mixed-use properties as well as DSCR rental loans for long term investors. We have closed thousands of loans since we began lending fourteen years ago, producing nearly $3B in originations. ABL was acquired by a private equity firm in 2021, and with a renewed focus on growth, we’ve set our sights on consistent evolution and cementing our place as the premier private lender in the country. Our Mission is Simple:Make Good LoansProvide Exceptional Service, Every TimeProtect The FirmBuild The Future Position Summary: We are seeking a detail-oriented, analytical Servicing Analyst to join our Servicing team. In this operations-focused role, you will be responsible for the accurate and timely processing of borrower payments and the preparation, reconciliation, and distribution of investor reporting across the company's loan portfolio. You will serve as a critical link between borrowers, banking partners, internal stakeholders, and investors—ensuring that every dollar moves correctly, every report ties out, and every investor receives transparent, on-time information from funding through payoff or maturity.Key Responsibilities:Process all incoming borrower payments (ACH, wire, check, lockbox) and apply funds accurately to principal, interest, escrow, fees, and suspense in the loan servicing system.Reconcile daily payment activity between the bank, lockbox, and servicing system; research and resolve unapplied funds, misapplied payments, and suspense balances.Manage NSF, returned, and reversed payments—reverse postings, assess applicable fees, notify borrowers, and coordinate replacement funds.Process payoff funds upon receipt, confirm wire amounts against issued payoff quotes, release liens, and disburse net proceeds to investors and applicable parties.Prepare and distribute monthly investor remittance reports, including principal, interest, fee, and escrow breakdowns at both the loan and pool level.Calculate and execute investor remittances on the contractual remittance date; reconcile investor cash positions and resolve any variances before distribution.Serve as the primary point of contact for investor inquiries related to payments, remittances, loan-level performance, and reporting; provide clear, timely, and well-documented responses.Act as a liaison between borrowers, banking/treasury partners, third-party servicers, and investors to ensure timely, accurate, and transparent cash movement and reporting.Board new loans into the servicing system for payment setup, including ACH authorizations, payment schedules, escrow accounts, and investor allocations.Maintain accurate wire instructions, investor records, and bank account information; verify changes through established callback and verification controls.Prepare year-end investor reporting and tax documentation (e.g., 1098, 1099) in coordination with accounting and compliance.Proactively identify and escalate exceptions, including aged suspense items, reconciling differences, late remittances, or payment processing errors.Collaborate closely with the Servicing Portfolio Specialists, Specialty Servicing / Loss Mitigation, and Accounting teams to ensure clean handoffs and end-to-end portfolio integrity.Maintain accurate and up-to-date records in loan servicing, reconciliation, and investor reporting systems.Provide periodic reporting on payment operations, suspense aging, and investor reporting accuracy and timeliness.Submit a prioritized list of action items related to payments, reconciliations, and investor reporting by 10:00 AM every Monday.Present key metrics and status updates on payment processing and investor reporting during the weekly Servicing team meeting.Key Performance Indicators (KPIs):Payment Posting Accuracy:Achieve a minimum 99% accuracy rate on all payments posted to the servicing system, measured monthly against audit and reconciliation results.Payment Posting Timeliness:100% of identified payments must be posted within 1 business day of receipt.Email Response Time:Respond to 100% of borrower, investor, and internal inquiries within 24 hours.Suspense / Unapplied Funds Threshold:Total suspense balances must remain below 1% of monthly payment volume; no individual item should age beyond 5 business days without documented research.Investor Reporting Timeliness:100% of investor reports and remittances must be delivered on or before the contractual remittance date.Investor Reporting Accuracy:Maintain a minimum 99.5% accuracy rate on investor remittance reports, measured by restatements, investor disputes, and post-distribution corrections.Bank-to-System Reconciliation:Daily bank-to-servicing-system reconciliations must be completed by end of the following business day, with no unresolved reconciling items aged over 10 business days.NSF / Returned Payment Resolution:NSF and returned payments must be reversed, noticed to the borrower, and resolved within 3 business days of bank notification.Payoff Funds Processing:Payoff funds must be applied, reconciled to the active quote, and net proceeds disbursed to investors within 1 business day of receipt, unless variance research is required and documented.Investor Inquiry Response:All investor inquiries must be acknowledged within 24 hours and substantively resolved within 3 business days unless escalated.Servicing Analyst Dashboard - SOP1. Purpose The purpose of this SOP is to define the daily usage and expectations related to the Servicing Analyst Dashboard, which supports ongoing monitoring and management of payment processing and investor reporting activities across the loan portfolio.2. Scope This SOP applies to all Servicing Analysts who are responsible for processing payments, reconciling cash activity, and producing investor reporting using the dashboard.3. Roles and Responsibilities The Servicing Analyst (SA) will be responsible for the following actions:Monitor payment and reconciliation activity daily using the dashboardEnsure payment processing and investor reporting compliance with outlined thresholdsEscalate concerns, exceptions, and aged items to management as needed4. Volume Expectations SA Level Monthly Payment Volume Investor Pools Supported Level 3 Up to 1,500 payments 1–3 pools Level 4 1,500–2,500 payments 4–6 pools Level 5 2,500+ payments 7+ pools 5. Dashboard Features The dashboard is organized by funding source / investor pool and includes filters to isolate exception items, aged suspense, and pending investor remittances. Key Data Categories Tracked: Payment Processing: Displays payment activity based on status:Posted – current dayPosted – prior business dayUnapplied / suspensePending reviewReversed / NSF Bank Reconciliation: Displays reconciliation status based on aging:Reconciled – same dayOpen – 1–5 business daysOpen – 6–10 business daysOpen – 10+ business days (escalation) Investor Remittances: Displays remittances based on cycle stage:Pending calculationPending review / approvalReady to remitRemitted – current cyclePast due (escalation) Investor Reporting: Displays report status based on delivery stage:DraftedUnder reviewDelivered – on timeDelivered – late (escalation) Payoff Funds: Displays payoff cash activity:Funds received – pending applicationApplied – pending investor disbursementDisbursed – completeVariance vs. payoff quote (escalation)6. Daily Expectations and Compliance Metrics Category Threshold / Expectation Email Response Time Respond to all emails within 24 hours Payment Posting Accuracy ≥ 99% accuracy on all payments posted, measured monthly Payment Posting Timeliness 100% of payments posted within 1 business day of receipt Suspense / Unapplied Funds Must remain < 1% of monthly payment volume; no item aged > 5 business days without documented research Bank Reconciliation Completed by end of the following business day; no reconciling items aged > 10 business days Investor Reporting Timeliness 100% of investor reports and remittances delivered on or before the contractual remittance date Investor Reporting Accuracy ≥ 99.5% accuracy; minimal restatements or post-distribution corrections NSF / Returned Payments Reversed, noticed, and resolved within 3 business days of bank notification Payoff Funds Processing Applied and disbursed within 1 business day of receipt, unless variance research is documented 7. Tools & Systems UsedServicing Analyst Dashboard (Power BI)Internal Loan Servicing System (e.g., Bridge or equivalent)Banking / Treasury Portals (ACH, wire, lockbox)Investor Reporting & Remittance PlatformEmail (Outlook)Excel / Reconciliation trackers8. Daily Workflow Priorities Servicing Analysts are expected to follow a consistent, disciplined workflow each day to ensure clean payment operations, timely investor reporting, and a premier servicing experience. All payment and reporting monitoring must begin in the SA Dashboard, unless otherwise noted. The dashboard is the primary tool for visibility, prioritization, and action on all cash, reconciliation, and investor reporting issues. Unless a priority item is escalated by management, the following order of operations must be followed each day: I. Review Pending Emails (via Outlook)Begin each day by checking Outlook for borrower, investor, banking, or internal emails from the prior business day.Respond to all emails within 24 hours to maintain service level expectations. II. Post Incoming Payments (via SA Dashboard)In the Payment Processing section of the dashboard, review all incoming ACH, wire, check, and lockbox activity from the prior business day.Apply funds accurately to principal, interest, escrow, fees, and suspense in the servicing system. All identified payments must be posted within 1 business day of receipt. III. Bank Reconciliation (via SA Dashboard)Open the Bank Reconciliation section and reconcile the prior day's bank activity to the servicing system.Research and clear reconciling items; escalate items aged beyond 10 business days.Ensure no unresolved reconciling items age past threshold. IV. Suspense & Unapplied Funds Follow-Up (via SA Dashboard)Review the Payment Processing – Unapplied/Suspense view and identify items in the 1–5, 6–10, and 10+ day aging buckets.Conduct borrower or investor outreach, contact banking partners, and reapply or refund funds as appropriate.Maintain suspense balances below 1% of monthly payment volume. V. NSF & Returned Payments (via SA Dashboard)Use the Payment Processing – Reversed/NSF section to identify newly returned items.Reverse postings, assess applicable fees, notify the borrower, and coordinate replacement funds within 3 business days. VI. Investor Remittances & Reporting (via SA Dashboard)Navigate to the Investor Remittances and Investor Reporting sections.Calculate, review, and prepare remittances scheduled for the current cycle.Reconcile investor cash positions and clear variances prior to release.Deliver investor reports and remittances on or before the contractual remittance date. VII. Payoff Funds Application (via SA Dashboard)In the Payoff Funds view, identify payoff wires received and pending application.Confirm receipt amount against the active payoff quote, apply funds, and disburse net proceeds to investors within 1 business day.Escalate any variance versus the issued quote for documented research. Important: If management escalates a priority or urgent item, it must be handled immediately, regardless of its place in the standard workflow.9. Team Culture & Core Values At ABL, our success is driven not only by what we do, but how we do it. The following core values represent the mindset, behaviors, and principles expected of every team member—especially within Servicing, where attention to detail, urgency, and accuracy converge daily. These values are more than ideals; they are actionable commitments that guide how we operate, collaborate, grow, and make decisions. By embodying these values, Servicing Analysts contribute to building a high-performance culture, strengthening the ABL brand, and delivering excellence across every transaction and report.Learn From Your Mistakes: Everyone makes mistakes—owners recognize, learn from, and change in order to move forward.Stay Curious: Owners seek knowledge relentlessly, ask "why", and never hesitate to say "I don't know".Build the Brand: We uphold ABL's standards by not settling for "good enough"—we raise the bar in everything we do.Know Your Customers: We anticipate borrower and investor needs, earn trust, and deliver a premier servicing experience.Rethink the Obvious: We don't do things just because "that's how it's always been done." We improve and innovate.Develop and Mentor: We grow ourselves and uplift our peers, creating a culture of support and excellence.See the Big Picture: Our work has long-term impact. We make decisions with foresight and intentionality.Interconnectedness: Success comes from team collaboration. We prioritize the best outcome over being 'right'.Adapt and Embrace: Change is constant. We respond quickly and embrace new ideas with a growth mindset.Jump Into Action: We take initiative, solve problems, and get our hands dirty when needed.Hear Others, Be Heard: We value transparency and speak up with openness and authenticity.10. In-Office Attendance Policy All Servicing Analysts are expected to be present in the office every Tuesday, Wednesday, and Thursday, unless a formal accommodation has been granted by management. Punctuality is critical to team operations, and each team member must be ready to begin their day on time. Clock-In Requirement: All SA team members must clock in promptly using OfficeRnD upon arrival. This serves as the official record of attendance and punctuality. Remote Days: Monday and Friday may be remote workdays unless otherwise specified by management. Exceptions: Any adjustments to this schedule (e.g., medical, personal, or ADA-related accommodations) must be approved in advance. Accountability: Repeated tardiness, failure to clock in, or unapproved absences may result in performance counseling or disciplinary action.