The position of SBA Loan Underwriter is responsible for gathering and analyzing credit information on current and potential borrowers; determines the advisability of granting credit for SBA and USDA government guaranteed loans; prepare loan requests for approval; ensure eligibility of loans following respective program guidelines and Bank policies.
Promotes business for the Bank by maintaining good customer relations and referring customers to appropriate staff for new services.
Assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations.
- Assists loan officers in gathering data from customers, internal and outside sources; prepares spreadsheets and analyzes financial information including financial statements and tax returns; contacts customers for additional information and clarification of data.
- Ensure compliance with loan program guidelines and Bank policies. Complies with Reg. B and other Bank compliance regulations.
- Contacts customers for information needed during the underwriting or closing process.
- Provides effective customer service, works with a sense of urgency and assist in resolving problems within given authority.
- Prepares spreadsheets and analyzes financial information including financial statements and tax returns.
- Prepared Commitment Letter and issues to customer after loan approval.
- Compiles data from credit bureaus, RMA, SBA, and other file documentation to complete a cash flow analysis and credit presentation.
- Writes financial credit presentations, reviews, and reports; makes recommendation on loan structures to Head of SBA and BDOs based on Bank policy and/or loan program guidelines.
- Performs analysis and completes recommendation memos for changes on already approved loans.
- Prepares the loan application files for underwriting and submits said files to the SBA and USDA. Communicates directly with SBA to check on the status of 504 and 7A loan applications and provide information ad needed to complete the credit decision process, monitors progress until authorization is received
- Coordinates the processing and closing of approved loans; ensures loans are processed according to agreement, customer needs and conform to Bank lending policies; obtains sufficient information and/or documentation from customers; solves problems relative to processing and servicing of loans.
- Coordinates and completes client signing as needed.
- Checks pledged assets as requested by loan officers.
- Interacts with various service providers such as escrow companies, appraisers, and real estates agents to gather information and close loans.
- Informs loan officers when up-to-date financial statements are needed for commercial accounts; ensures credit inquires and UCC filings are researched to determine credit worthiness and appropriate collateral positioning are achieved
- Records data on status of loan applications such as number of new applications, loans approved, canceled, or denied, and status of each applicant.
- Servicing the existing loan customers. For existing credits, the incumbent will assist in collecting periodic information from customers and their representatives as required by the credit approval and loan documents.
- Assists loan processors in gathering data from customers, internal and outside sources; contacts customers for information needed during the underwriting or closing process.
- Works closely with loan processor through closing of approved loans; ensures loans conditions are met and injection is documented and satisfactory.
- Accurately maintains pipeline reporting information.
- Answer calls responds to routine loan officer or customer inquiries.
- Assists loan officers and other personnel to ensure proper related documentation is prepared and/or provided.
- Provides effective customer service and assists in resolving problems within given authority.
- Operates computer terminal or personal computer to process loan activity, determine balances, and resolve problems within given authority.
- Generate routine letters, reports and forms and works with Laser Pro to inputs data used by the Note Department.
- Coordinates lenders approval, appraisals, and environmental reports.
- Engages in reports such as appraisal, environmental, business valuations and site visits.
These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.
- Associate degree (AA) or equivalent from an accredited college or technical school; or 3 years related experience and/or training; or the equivalent combination of education and experience. Work related experience should consist of a credit review or loan processing background. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.
- Prior work experience with the SBA and USDA programs preferred
- Basic experience, knowledge and training in financial statement and tax return analysis typically resulting from a combination of education in accounting, financial and/or credit analysis or related areas.
- Familiar with Excel and Word. Nupoint and Sageworks is a plus.
- Basic knowledge of commercial, construction, real estate and consumer loan processing.
- Ability to read, analyze and interpret general business periodicals, professional journals, and technical procedures.
- Intermediate level of work experience, knowledge and training in all loan servicing activities and terminology.
- Intermediate knowledge of the SBA SOP 50 10.
- Intermediate knowledge of related state and federal banking compliance regulations, and other Bank lending policies.
- Intermediate knowledge of title policies and related loan regulations such as RESPA, HMDA and other Bank lending policies on loans to directors.
- Intermediate skills in computer terminal and personal computer operation; mainframe computer system; word processing, spreadsheet and specialty software programs.
- Intermediate typing skills to meet production needs of the position.
- Familiar with Laser Pro, Excel, Word & Jack Henry.