Has primary responsibility for loan quality. Ensures that approved loans meet State and Federal regulatory requirements, investor requirements and internal Lending Policy and Standard Operation Procedures (SOP's).
Essential Job Functions:
- Underwrites real estate loan requests in a manner that is compliant with internal Lending Policies, SOP's, including matrices and Investor guidelines. Provides upfront credit approval and final approval on all loans within individual lending authority limits.
- Apply team and department "Best Practices" as instructed by Management.
- Continues to develop knowledge in secondary investor lending requirements and SchoolsFirst FCU lending policies, guidelines, and operating systems. Is accountable for reviewing internal policy documents and SOP's on a frequent basis to ensure that skills and understanding are current. Is familiar with the All Reg's system to review investor guidelines as needed.
- When necessary assists in processing applications by performing processing functions including Member contact updates, third party communication, and other processing or loan closing tasks.
- Is the initial contact for escalated Member calls regarding appraisals, counter-offers or loan stipulations requested.
- Mentors loan consultants, processors and closers and leads these groups in developing skills and experience with loan requirements.
- Ensures that Loan Operating System (LOS) is updated in all required areas on a daily basis.
- Reviews SOP exception requests, or provides loan counter-offers and either approves within individual limits or makes a decision recommendation to senior underwriter or management.
- Ensures that department turnaround times for period from receipt of completed application to credit approval then funding are met.
- All teammembers must comply with regulatory compliance and assigned training requirements including but not limited to BSA regulations corresponding to their specific job duties. Failure to do so may result in disciplinary and other employment related actions.
- Performs other related duties as assigned or requested.
High School Diploma or G.E.D. required.
5 to 7 years of related experience required.
Previous experience in processing and/or underwriting of first trust deed loans to FNMA/FHLMC guidelines.