Loan Underwriter

Police Federal Credit Union
Work independently while understanding the necessity for communicating and coordinating work efforts with other employees and management.

For immediate and confidential consideration, qualified candidates should email cover letter with full (first, middle, last) name, current address, along with their resume and salary requirements to: humanresources@policefcu.org

Title: Loan Underwriter

Reports to: Consumer Loan Production Manager

FLSA Status: Non-Exempt

Organization Conformance Statement: In the performance of their respective duties and responsibilities all employees are expected to conform to the following:
Work independently while understanding the necessity for communicating and coordinating work efforts with other employees and management.
Perform quality work within deadlines with or without direct supervision.
Interact professionally with other departments, employees, customers, members, and management.
Work effectively as a team contributor on all assignments, and have general knowledge of Police Federal Credit Union’s operations and services.

Position Purpose:  Assist members with the application, submission and approval process of all loan products.  Responsible for underwriting quality consumer and gathering documentation for home equity loans in compliance with applicable credit union policies, laws and regulations. Optimize lending opportunities by cross-selling appropriate products and services. 

Essential Duties and Responsibilities: The following are the essential duties and responsibilities of the position:
Understand and comprehend all loan products, policies and services. Discuss loan programs and alternatives with the member and notify member of loan decision.  Serve as a financial advisor and constructive financial critic.
Gather supporting information, obtain credit reports, interview applicants, and complete applications over the telephone and/or in person to ensure all necessary documents are obtained. Follow-up with members as appropriate to facilitate loan closings.
Evaluate loan requests: determine debt-to-income ratio, collateral value and general loan quality. Ensure that all loan decisions are based on an accurate and thorough understanding of each member’s financial needs and conditions, and that the decision made is in accordance with the credit union’s policies and procedures.  Required to achieve a minimum loan volume of $400,000 monthly. Seek a second opinion or additional approval authority as appropriate.
Determine collateral requirements and negotiate an acceptable payment plan within policy guidance. Determine eligibility of co-borrowers/cosigners.
Properly document all loan decisions. Prepare accurate closing paperwork to ensure all loan documentation is complete and valid.
Identify all cross-sell opportunities and actively sell Credit Union products and services through daily face-to-face and telephone contact to existing membership.
Aggressively promote and sell by utilizing the CUNA Mutual Lender Development Program to Credit Union members. Responsible for promoting life and disability protection and GAP sales to Credit Union members
Loads, processes and underwrites loans in accordance with policies and procedures. Responsible for monitoring Internet application pipeline.
Research and resolve routine member questions, problems and complaints concerning credit union loans. Ability to perform, calculate and post account recalculations to resolve erroneous payment posting or other loan related problems if necessary.
Review Skip a Pay requests. Determine eligibility, notify the member and forward for processing.

General Duties and Responsibilities:  The following are the general duties and responsibilities of the position:
Utilize appropriate investigative and counter-offer techniques to maximize loan opportunities and protect against fraudulent activities.
Serve membership by providing service and accurate information in a pleasant, professional and efficient manner in person, via telephone or correspondence.
Assist other loan officers with the closing and funding of loans. Request assistance from other lending personnel to close and fund loans approved.
Make policy, procedural, new loan product or service recommendations based on observations. Wherever possible, work to streamline the loan process.
Maintain credit union member and employee related business in strict confidence.
Required to achieve a minimum participation rate of 40% for life and disability protection, 80% for GAP on loans with a LTV of 80% or more and 5% for MRC sales.
Participate in training on system applications, credit union products and services or other training as appropriate.
Participate in the credit union’s initiative of document capture and retention of all loan documents. Follow procedures to ensure all documents are captured electronically where applicable.
Prepare various reports and logs. Submit all reports in a timely manner.
Interact with members and outside contacts in an appropriate, professional manner to ensure a positive image of the credit union.
Perform other duties as assigned by management.

Qualifications: Incumbent will have a minimum of five (5) years’ experience in a similar environment; AA degree preferred or equivalent combination of education and experience.

Work Site:  Although the central offices for Police FCU are located in Upper Marlboro, employees may be required to report for work at other branch locations on an as needed basis.

We are proud to be an equal opportunity employer

Website: www.policefcu.com