In accordance with established lending policies and procedures, assists business line general managers and senior loan officers in examining, evaluating, and closing commercial extensions of credit, predominately through USDA loan programs. May request specified information for loan application. Responsible for assembling information required by Live Oak and counsel to properly close loans. Develops customer relationships through friendly, courteous and responsive service. Develops keen understanding of commercial lending and USDA Program rules and procedures. Promotes Bank's services to current and potential customers.
- Completes the underwriting of the application to include the analysis of applicants' financial status, credit, and property evaluation to determine if loan requests meet the bank's and USDA's lending criteria. Evaluates the sources of repayment on loan requests and does a competition analysis.
- Understands bank policies and procedures as well as USDA standards and procedures. Reviews the loans for USDA eligibility and verifies same.
- Completes the customer interview. Makes an assessment of the customer and resolves outstanding questions related to the transaction.
- Develops expertise in use of Bank loan systems. Ensures that all documents required for the credit approval of the loan transaction are uploaded to Sales Force.
- Submits the loan request to Credit Administration to secure approval for the transaction. Works closely and directly with the credit officer, answers questions about the loan and the customer which allows the credit officer to become comfortable with the request.
- Prepares, packages and communicates with USDA lending personnel for loan submission requests.
- After the loan is approved, reviews the commitment letter prepared to ensure compliance with credit approval.
- Reviews third party appraisal on real estate, business valuations and environmental assessments upon completion for compliance with loan conditions.
- Has industry expertise in serving specified market niches within team, including project finance
- Maintains a pipeline of 3-5 loans in Underwriting.
- Achieves proficiency in special products and complex loan types.
- Ensures a smooth transfer of the customer to the Loan Closing Specialist for the closing and funding of the loan.
- Works with the Closer throughout the loan process through the loan funding, including but not limited to file clean up, review and approval of all Underwriting items, preparation of Change Memos, addressing all Prefunding file review items as needed to ensure a smooth and timely loan closing.
- Works with the Construction Relationship Manger on Multiple Disbursement loans throughout the loan process until the loan closes, including but not limited to review of documents received, and preparing of Change Memos, as applicable.
- At the direction of the Business Underwriting Development and Training Manager, may assume training of Underwriter 1 on multiple market niches and/or loan products. Performs peer reviews on Underwriter 1 trainees.
- Keeps abreast of economic conditions, changes and trends in customers' businesses, the banking industry and the specific market niches targeted by the bank.
- At the direction of the Head of Underwriting helps develop underwriting templates, policies, procedures and guidelines for new loan products and/or business niches
- Acts as a liaison with Credit to facilitate on going feedback on Underwriter 1 & II.
- Works with USDA Packager for USDA loans through out USDA application and receipt of Loan Note Guarantee.
- Reviews work of other Underwriting team members to ensure compliance with bank underwriting and USDA policies and procedures.
- Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.
- Functions as a team and realizes all members of the team are vital to its success.
- Assists in training of other team members.
- Performs other duties as required.
- Excellent customer service and interpersonal skills.
- Sound judgment.
- Detail oriented and high level of ownership in lending process.
- PC proficiency.
- In-depth knowledge of Bank lending policies, procedures and criteria.
- Minimum of a Bachelor’s degree in Finance, Business, or Marketing or three to five years of underwriting or related industry experience which may include servicing, closing, construction monitoring experience but must be minimum of three years underwriting experience.
- An MBA is preferred.
- Formal USDA and/or commercial underwriting experience credit training is required.
- Five years’ credit analyst, underwriting or lending experience is required which may include closing, servicing or construction monitoring.
PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:
- Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers
- Must have a valid drivers license
- Able to sit, stand, stoop and bend
- The ability to work the days and hours required to fulfill the essential functions of the position
- The ability to work long hours and to multitask
- Learning, thinking, concentration, creativity
- The ability to interact with others and exercise self-control
- The ability to work under stressful conditions
- The ability to exercise discretion when necessary
- The ability to manage multiple files simultaneously