HELOC Underwriting Specialist
Job Description
HELOC UNDERWRITING SPECIALIST
Location: | Greenville or Iuka | Department: | Central Credit Administration | |
Reports to: | Assistant Retail Credit Mgr | Positions Supervised: | None | |
Employee Classification: | ☐ Temporary ☒ Regular Full Time ☐ Part-Time | |||
FLSA Status: | ☒ Non-Exempt ☐ Salary ☒ Hourly ☐ Exempt ☐ Commission | |||
Position Summary:
The purpose of this job is to accept and complete all responsibilities related to Home Equity Line of Credit loan applications apart from making the final decisions.
Essential Functions-Primary Responsibilities and Accountabilities (90%):
Reasonable Accommodations Statement
To accomplish this job successfully, an individual must be able to perform, with or without reasonable accommodation, each essential function satisfactorily. Reasonable accommodations can be made to help enable qualified individuals with disabilities to perform the essential functions.
Essential Task Statement(s)
Branch Credit/Ownership (80%)
- Receive applications from branch lenders and/or lender assistants and online applications
- Establish communication with applicants
- Enter applications in appropriate software
- Prepare loan documents in appropriate software
- Follow established loan processing timing guidelines for obtaining disclosures and loan documents
- Structure loans
- Gather all information and documentation required to accurately underwrite the application
- Understand and comply with all regulations related to consumer lending
- Understand, verify and document appropriate income and expenses of each applicant and co-signer or guarantor
- Order, obtain, and verify all information and documentation needed to make a sound decision
- Provide information and documentation needed to make a sound decision to the decisioning lender in a timely manner
- Provide excellent customer service throughout the application and loan closing process
- Communicate decision to applicants
- Send Adverse Action Notices or Counter Offer Notices (when requested by decisioning lender) with appropriate declination reasons and/or stipulations on all declined applications within 30 days of application date
- Compile all information and documentation required to protect the bank's collateral position on all approved applications
- Compile all information and documentation needed to prove compliance with all consumer lending regulations
- Compile all information and documentation needed by Loan Processing to process the loan package
- Prepare all documentation required to accurately document the loan file for Safety/Soundness, Compliance, BSA, OFAC, etc. including exhibits, title applications, and any other document not provided by Loan Processing
- Establish loan closing date and time
- Check accuracy of loan documents prior to closing
- Prepare loan package for borrowers’ signatures
- Present loan package to borrowers, answer inquiries, obtain signatures, and disburse loan funds appropriately
- Prepare and balance disbursement and fee tickets accurately
- Submit required documentation to New Loans for booking immediately after disbursement, if branch isn’t able
- Follow procedures for attaching documentation to application electronically
- Prepare closed loan package and send package to Loan Processing in a timely manner, if branch isn’t able
- Obtain any additional documentation or information needed after loan closing and clear all exceptions in a timely manner on applications and/or loans submitted
- Able to assume responsibility for loan related task as required or assigned
- Ensure bank is in compliance with federal banking regulations including, but not limited to Bank Secrecy Act, OFAC, Community Reinvestment Act, American with Disabilities Act, Right to Financial Privacy Act, Gramm-Leach-Bliley Act, the Federal Reserve’s “lettered” regulations, and Consumer Lending Specialist roles and responsibilities relating to each act.
Customer Service (10%)
- Represent Guaranty Bank & Trust Company professionally, efficiently, and tactfully
- Acknowledge and greet customers with a smile, call customer by their name, ask if they need any additional assistance, thank customer at end of every conversation
- Ensure continuing development of professional relationships with management and colleagues.
- Answer basic inquiries while complying with disclosure requirements, regulations and consumer privacy policies.
- Answer and assist incoming callers with questions and requests; subsequently route callers, as appropriate.
- Receive incoming bank visitors and assist in directing them appropriately.
Additional Functions-Secondary Responsibilities and Accountabilities (10%)
Additional Task Statement(s)
- Work overtime, as needed.
- Complete all assigned BAI courses in a timely manner
- Perform other duties as necessary to keep the HELOC loan process as efficient as possible
- Perform all work within bank guidelines, following bank policies, procedures and standards of performance
- Provide assistance to other departments as needed.
- Perform other duties that may be assigned and requested.
Position Qualifications
Education: Required – High School Diploma or equivalent.
Preferred – Post –secondary certificate or degree, experience will be considered.
Experience: Required – 1 to 2 years of experience in banking or related field.
Preferred – 3 to 5 years of experience in consumer lending or related field.
Licenses and Certifications: Required – None
Preferred – None
Position Requirements
Competency Statement(s)
- Accountability (core value) – Always do what we say and hold one another accountable.
- Accuracy – Thorough with strict attention to detail; does work right the first time; identifies and corrects errors; produces complete and error free work.
- Active Listening – Gives full attention to what others are saying, attentive to others’ ideas and concerns; asks questions to clarify understanding.
- Conceptual Thinking – Notices similarities between different and apparently unrelated situations.
- Confidentiality (Core Value) – Always maintains strict confidentiality.
- Community Development (Core Value) – Always committed to community development.
- Critical Thinking – Apply rules and logic to situations; considers factors beyond the initial information given.
- Data entry – Proficient alpha/numeric data entry skills.
- Detail oriented – Concentrates on routing work details; carefully monitors and examines one’s own and others’ work; ensures accuracy in documentation and data.
- Ethical Conduct – Conducts oneself consistently with sound banking practices and standards, upholding the values of Guaranty Bank.
- Integrity (Core Value) – Always act with integrity and honesty.
- Respect (Core Value) – Always treats others with respect.
Physical Requirements:
Physical requirements needed to perform the above essential duties, with or without reasonable accommodation, may be requested from Human Resources.
Frequency | Lbs. | |
Sitting | 90% | |
Standing | 5% | |
Walking | 5% | |
Fine Manipulation of hands | 90% | |
Lifting | Daily | 10 lbs. |
Carrying | Occasional | 5 lbs. |
Pushing/Pulling | Seldom | 10 lbs. |
Bending/Squatting | Occasional | |
Reaching/Overhead | Occasional | |
Stress Level | High at times |
General notice:
The bank has reviewed the job description to ensure the essential functions and basic duties are current. This job description describes the general nature and level of work performed by the employee holding this position. It provides guidelines for the job expectations and the knowledge, skills, and abilities necessary to perform successfully in this position. This job description in no way states or implies that these are the only duties to be performed. Additional duties and responsibilities may be assigned by supervisors as deemed appropriate. This position does not constitute an employment agreement between the Bank and employee. This position description is subject to change as the needs of the bank and the requirements of the position change.
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