Loan Underwriter I

GENERAL DESCRIPTION OF POSITION

Loan Underwriter I will be responsible for reviewing incoming loan applications, verifying the legitimacy of documentation, underwriting, and evaluating regulatory risk in correlation with Federal laws, State Laws, and NCUA regulations. Loan Underwriter I will apply lending policy to evaluate consumer loan requests and render quality loan decisions. This position will be associated with ensuring that processing limits requested are in line with the consumer application and product type. Loan Underwriter I will also analyze all aspects of the consumer application, calculating financial risk, and initiating closings/fundings. The role will include collaboration within the Lending Department as well as with Branch Operations and eServices staff related to lending products and services to achieve excellent member service.

ESSENTIAL DUTIES AND RESPONSIBILITIES

· Review and underwrite consumer applications with an emphasis on credit reports, collateral documentation/valuation, legal documents, consumer note and disclosures to meet policies and federal state regulations to render a decision.

· Review supporting documents for completeness and accuracy.

· Assist in fraud prevention detection by reviewing loan applications for potential red flags.

· Analyze loan requests making recommendations for approval, denial, or counteroffer.

· Proactively seek alternate lending opportunities when needed for each loan applicant.

· Make loan decisions within lending authority limits and at times use discretionary judgment for credit decisions when needed consult with AVP of Lending/CFO.

· Handle loans of highest complexity, value, and risk with extra caution, consulting with the AVP of Lending/CFO.

· Perform closing and funding requirements in adherence with credit union, state, and federal regulations.

· Maintain working knowledge of clerical functions and quality control review throughout the process of lending.

· Liaison with Personal Bankers and Loan Administrator/Coordinator to perform essential duties related to consumer loan applications like question resolution and informing of credit decisions in a timely manner.

· Communicate effectively with Personal Bankers, Assistant Branch Managers, Branch Managers, Loan Administrator, and AVP of Lending to meet deadlines and provide excellent member service.

· Respond to and resolve all loan inquiries in a timely manner and facilitate assistance from other staff.

· Handle phone overflow according to volume.

· Maintain pipeline management and productivity based on loan volume.

· Monitor and perform the functions associated with any adjustments to rates.

· Maintain and complete Lending Department reports and statistical analysis as requested.

· Perform all training assigned in the timelines provided for compliance and prospective performance goals.

· Provide feedback to management on the products and procedures to improve the credit union.

• Have a working knowledge of any regulation, law, NCUA requirement, and tax return/financial statement analysis that pertains to lending.

· Maintain a working knowledge of the computer systems and loan software used by the Lending Department and Credit Union.

· Perform other functions as required by the Loan Administrator, AVP of Lending, or CFO to ensure organizational success.

KNOWLEDGE REQUIREMENTS

Knowledge of Loan Policy and lending operations

Knowledge of loan products and services

Knowledge of Credit Union operations, principals, and practices

Knowledge of web-based technology and computers

Knowledge of MS Office applications, Credit Union core processing system, loan software applications.

Knowledge of collections procedures and policy

Knowledge of loan regulations and compliance

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Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule:

• 8 hour shift
• Day shift
• Monday to Friday
• No weekends

Ability to Relocate:

• Milford, NJ 08848: Relocate before starting work (Required)

Work Location: In person