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Loan Underwriter
Ref No.: 21-06734
Location: Southington, Connecticut
Pay Rate : $ 23.57 /Hour
Loan Underwriter (Small Business)
Location: Southington, preference is onsite 100%. Flexibility to switch to hybrid after training if needed.
Hours: normal business hours
Interview process: 2 rounds, video (MS Teams)
Job description:
Commercial credit resource required to process automated credit model output and managing third party due diligence reportsfor small loans for the Fast Track Program. The original design was to cross train Consumer Loan Processors, althoughmore variability in commercial loan applications has generated ongoing outreach for credit support. As of 7/21 the Fast Track credit turnaround time is 15 days versus an average of 7 days and a target of 1 day. This resource will also support underwriting small loans outside the Fast Track Programas well as line of credit renewals As of 7/21 the credit decision turn times for larger loans was at 21 days relative to an average of 14 days and a target of 3 days.
  • Need to have understanding of Commercial financial statements and tax returns, Personal tax returns and loan documentation
  • Know how to read a credit report (at least have exposure to)
  • Bonus to have knowledge of SBA programs (Small business adminsitration)
  • Underwriting small business loans (.5 mil or under)
  • Fast paced, high volume environment
  • Need to make quick decisions, independent worker, attention to detail, problem solver
  • Ideally have 1-3 or 2-4 years of relevant experience