Lending Specialist

Description

This position is primarily responsible for taking loan applications via phone and internet, preparing for underwriting, gathering loan stipulations and funding the loan in a timely manner. This position will also be responsible for maintaining knowledge of all loan products in order to effectively understand the approval, the denials and to process consumer, home equity, and second mortgages.

• Core duties and responsibilities include the following. Other duties may be assigned.
• Ability to read and understand credit reports.
• Approves quality loans within clearly defined loan approval authority limits.
• Makes sound underwriting decision recommendations for loans not within approval authority.
• Analyzes the applicant’s credit report with the philosophy of “Selling is Telling” and cross sells where appropriate.
• Addresses all Red Flags.
• Gathers background information on loan applicants by interviewing applicants via telephone or internet in order complete the application process for loan decisions.
• Completes all online and alternate channel applications and calls applicants via telephone to complete the application.
• Interviews loan applicants for consumer and home equity loans with ability to follow through to closing.
• Pulls credit reports on all members who do not have a current credit report on file.
• Verifies all debts, lists any debts with monthly payments that are not listed on credit report.
• Reviews total debt to income ratio, secured debt ratio, unsecured debt ratio, and disposable income for all loan applicants, checking for affordability.
• Determines collateral needs and payment terms for members applying for loans.
• Analyzes credit report for cross sell opportunities.
• Verifies employment and income as directed by Summit’s Loan Policy.
• Ensures all loans are processed accurately, with proper paperwork according to loan type including all consumer and home equities.
• Approves loan applications within clearly defined limits or refer to the proper lending authority when necessary.
• Delivers reasons for denial, and exploring and explaining options using “Selling is Telling” for members when loans are denied counseling members on how to get an approval in the future.
• Maintains and follow lending policies as well as laws and regulations.
• Verifies the accuracy of loan amounts, interest rate and repayment terms on approved loan applications.
• Completes loan documents and performs disbursements for members that cannot close in a branch or for a loan officer who approved the loan but may not disburse. Able to successfully close loans using Docu Sign.
• Helps with the implementation of new loan products and services with managerial direction.
• Assists in training of new lending personnel.
• Closes at least ten (10) sold referrals per month.
• Contacts members by letter, email or telephone to sell lending products as time allows.
• Assists employees in other departments with lending questions.
• Makes decisions loans within department guidelines and standards.
• Maintains regulatory knowledge and compliance.
• Exhibits awareness and reacts appropriately to loan volume levels, incoming phone calls and emails to achieve and maintain service level standards.
• Prioritizes follow-up with regard to urgency of where the loan is closing and to the member’s needs.
• Exhibits loan file review behaviors i.e. creates appropriate loan documentation including comments and recommend approve presentation.
• Meets department service levels for loans.
• Facilitates closing loans by following up on own loan queue in a timely manner.
• Identifies opportunities to cross-sell additional products which enhance and or protect member loans utilizing the “Selling is Telling” philosophy.
• Demonstrates sales behaviors and activities that contribute to departmental goals to increase member loan volume.
• Demonstrates sales behaviors and activities that contribute to departmental goals to obtain member referrals.
• Takes ownership for change.
• Analyzes, justifies and recommends change in operations to enhance productivity and improve service.
• Contributes to the success of the department through effective interdepartmental communication and education.
• Assumes…