Underwriter, Small Business Banking

Live Oak Banking Company

257d • $70,000 - $110,000

About The Position

The Underwriter, SBB analyzes deals to determine if they are prudent loans for the Bank and the borrower. The Underwriter role impacts the Bank by fulfilling a critical part of the loan process to move deals from proposal to credit approval.

Requirements

• Minimum of a bachelor's degree is required.
• Minimum of 18 months of underwriting experience is required.
• SBA underwriting experience is strongly preferred.

Responsibilities

• Develop an understanding in examining, evaluating, and closing commercial extensions of credit.
• Request specified information for loan application.
• Develop customer relationships through friendly, courteous, and responsive service.
• Build on established understanding of commercial lending policies and SBA Program rules and procedures.
• Promote Bank's services to current and potential customers.
• Work with an experienced Loan Officer to complete the underwriting of the application.
• Analyze applicants' financial status, credit, and property evaluation.
• Evaluate the sources of repayment on loan requests and conduct a competition analysis.
• Review loans for SBA eligibility and verify compliance.
• Complete customer interviews and assess customer needs.
• Maintain expertise in use of Bank loan systems.
• Ensure all documents required for credit approval are uploaded to the Loan Origination System.
• Prepare the Credit Memorandum detailing the loan request.
• Submit the loan request to Credit Administration for approval.
• Work closely with the credit officer to answer questions about the loan and customer.
• Evaluate third party appraisals and documentation for compliance.
• Maintain a full underwriting pipeline and manage loan complexity.
• Learn to quickly review files for credit/eligibility red flags and missing documentation.

Benefits

• Base pay range of $70,000.00 - $110,000.00 per year.
• Compensation may include annual bonuses and long-term incentives.
• Paid sick leave for employees in states that require employer-paid sick leave.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree