Commercial Loan Processor/Underwriter
Full Job Description:
We are looking for a Commercial Loan Underwriter professional with at least 5 years of hands-on Underwriting and Portfolio Management experience.
Underwriters will be responsible for working with internal partners to underwrite new transactions and manage the existing portfolio of loans.
Duties and Responsibilities:
- Understand and comply with requirements of all laws and regulations applicable to the position
- Responsible for analyzing and approving complex Business, Syndication, and Owner-Occupied Commercial Real Estate loans and understanding and determining the application of the Bank’s credit policies and procedures to assist with approval determination.
- Evaluate the cash flow from the property or business to make a determination regarding its capability of servicing the debt and maintaining the applicable coverage and loan to value ratios over the term of the loan, independent from the appraisal process, which involves extensive experience and working knowledge of Tax Return cash flow analysis, business balance sheet and profit and loss analysis, Debt Service Coverage Ratios and other financial metrics
- Conduct in-depth analysis of financial records and business operating statements, including but not limited to A/R and A/P Agings, Inventory, Contractor Retention, WIP Reports, credit reports, legal formation documents, and other legal documents to make recommendations and decisions regarding underwriting
- Conduct sensitivity testing under differing interest rate scenarios as may be appropriate to assess and determine the property or business’s ability to service debt
- Analyze all aspects of the requested credit accommodations to determine the ability to meet regulatory requirements and achieve profitable loan objectives, which have a significant impact on the Bank’s productivity
- Direct and oversee the write up of the loan approval memo
- Draft post loan approval commitment letter, and is responsible for analyzing and understanding terms and conditions of the loan approval process to accurately reflect such terms and conditions in the commitment letter
- Maintain an in-depth and extensive understanding of the Bank’s lending objectives with regard to its credit policies and procedures to assist with recommendations and decision-making for underwriting
- Analyze new loan application packages, including loan participations and assumptions, to determine the sufficiency of the information for underwriting
- Analyze and determine the applicability of the Bank’s current lending parameters to the proposed loan
- Evaluate the creditworthiness of the prospective borrower
- Determine the necessity of and conduct a property inspection of the proposed collateral to provide support for the underwriter’s recommendation, denial, or changes to underwriting
- Recommend approval of the loan, recommends denial of the loan, or recommends changes in the amount, interest rate, or loan structure based upon knowledge of the Bank’s credit policy
- Review and recommend findings and decisions with the Underwriting Manager, drafts the loan write-up including any conditions that the underwriter chooses to impose on closing or funding the loan and provide a recommendation to the Underwriting Manager regarding the write-up, and oversees the implementation of recommendations
- Review and approve outstanding underwriting conditions as they are received
- Determines the risk rating for all facilities within an assigned loan portfolio and provides written approval for any rating changes
- Partner with FFB Bankers and Portfolio Managers to cultivate excellent client relationships. Exhibit professionalism, timely communication with clients, and understands risk parameters
- Foster open dialogue and strong working relationships with Risk Management, Loan Administration, and other groups that support and review the line of business
- Responsible for understanding, timely completing training related to, and adhering to all laws and regulations (including but not limited to federal, state, and local) and compliance programs applicable to underwriting
- Perform other duties as assigned
Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience:
- Bachelors Degree or higher required; or combination of education and experience
- Minimum of 3 to 5 years lending experience and credit analysis training at a financial institution
- In-depth and extensive knowledge of credit analysis, including real property analysis and valuation, real estate lending, loan underwriting, and financial and credit analysis required
- Excellent written and verbal communication skills are required
- Strong customer service ethics and team-building skills
- Ability to prioritize, organize, and produce in a high-volume, deadline-driven production workgroup
- Must be detail-oriented and self-motivated, with the ability to work independently
- Present a professional image in dealing with customers, interdepartmental and external representatives
- PC proficiency in Microsoft Word and Excel (including reading/writing formulas) or the demonstrated ability to transfer skills developed in competitive applications
Loanoble is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with a disability, sexual orientation, gender identity, or any other characteristic protected by law.