Loan Underwriter

Heart of LA Federal Credit Union•Alexandria, LA

About The Position

The Loan Underwriter is responsible for approving, denying, and/or counteroffering loans in accordance with Credit Union standards. This role involves providing information on products and services, processing loan applications, making loan decisions, and handling post-closing underwriter functions. The position also serves as a resource for FFOs and Managers, ensuring clear communication and cooperation between departments. Key responsibilities include reviewing loan applications, assessing member needs, requesting and verifying documentation, evaluating credit reports, calculating debt-to-income ratios, recommending loan terms, determining collateral and payment plans, and offering interest rate structures. The underwriter will also handle in-house mortgage files, maintain knowledge of internal loan trends, communicate with their supervisor about important issues, and enforce security procedures. Other job duties may be assigned.

Requirements

Two years to five years of similar or related experience.
A two-year college degree OR completion of a specialized course of study at a business or trade school OR completion of a specialized and extensive in-house training or apprenticeship program.
Good communication skills.
10-key calculator skills.
Typewriter skills.
Keyboard skills.

Nice To Haves

A significant level of trust and diplomacy is required, in addition to normal courtesy and tact.
Work involves extensive personal contact with others and/or is usually of a personal or sensitive nature.
Work may involve motivating or influencing others.
Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary.

Responsibilities

Approve, deny, and/or counteroffer loans following Credit Union standards.
Provide information on products and services to staff according to policies, procedures, and regulations.
Approve or deny a variety of consumer loan applications with considerable loan authority.
Process, make loan decisions, and handle post-closing underwriter functions.
Serve as a solutions resource to FFO's and Manager's.
Communicate clearly and appropriately with all employees to ensure productive inter-departmental cooperation.
Review loan applications and provide information on loan products and alternative products that best meet the member's needs.
Request and review all required information and documentation to secure a loan.
Obtain and evaluate credit reports.
Calculate debt-to-income ratios on loan applicants and determine the proportion of secured or unsecured debt.
Recommend and outline loan terms and communicate with FFO's and Manager's.
Validate and determine collateral needs and payment plans for members.
Offer recommendations on an interest-rate structure consistent with credit union policies and market competitiveness.
Underwrite in-house mortgage files as needed.
Maintain knowledge of internal trends regarding delinquencies, charge offs, and loan volumes.
Maintain ongoing communication with supervisor, informing them of all pertinent problems, irregularities, new developments, changes, and other important information within the area of responsibility.
Enforce strict adherence to established security procedures.
Perform other job duties as assigned.