Pre-Underwriting Loan Specialist

At IU Credit Union, we find meaning in our work as we witness the positive impact our efforts have on our members’ lives. Our caring culture transcends the organization and is an inherent aspect of how we operate. We have genuine concern for our members and for one another, fostering a sense of belonging and support. Through various community outreach programs, volunteering initiatives, and partnerships with local organizations, our Credit Union team participates in building a stronger community that extends our impact beyond financial transactions.

We are honored to be named one of the Best Places to Work in Indiana. We hire individuals with a broad range of backgrounds and experiences and invest in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. A career at IU Credit Union can provide many different paths for you to learn, grow, and make a difference.

Pre-Underwriting Loan Specialist

As a Pre-Underwriting Loan Specialist, you are responsible for assisting mortgage applicants by reviewing and analyzing loan documentation, generating disclosures and learning to make lending decisions based on policy and sound risk principals. This role bridges the gap between processing and underwriting and helps to facilitate and backup both processes. You may also support servicing and other post origination duties within the Lending Center.

Loan Processing Responsibilities

• Verify and review member information. Order title work, tax transcripts, flood certifications and request the appraisal. Obtain verification of deposit, verification of employment and credit report.
• Ensure all required documents are received from the member and loan officer and review for accuracy and completeness. Request any additional documentation as required, for submission to underwriting.
• Prioritize workflow to ensure time sensitive files are handled in the proper order. Monitor files daily to ensure all loans are being worked on in accordance with the Credit Union’s timeline expectations.
• Ensure compliance with all policies, procedures, and regulatory requirements. Complete required security and compliance training. Demonstrate working knowledge of federal and state rules and regulations.
• Maintain ongoing communication with loan officer on status updates and changes to loan files.
• Ensure any necessary changes which require re-disclosures have been accurately notated and checked in the loan origination system for compliance purposes.
• Prepare and send closing disclosures on HE Installment and Smart Refi loans.
  
  

Loan Underwriting and Administrative Tasks

• Examine documentation to ensure accuracy, completeness, and adherence to policies, procedures, and regulatory requirements associated with the specific loan product.
• Analyze a broad spectrum of data (e.g. credit reports, appraisals, financial documents, tax returns, trust agreements, purchase agreements and other documents).
• Evaluate income, asset, credit, and collateral to ensure adherence to IUCU lending standards, policies and procedures and investor guidelines for residential mortgage loans.
• Identify potential risks associated with mortgage loan files and escalate issues as appropriate.
• Demonstrate advanced product knowledge of mortgage products offered by IUCU.
• Complete tasks in a timely manner, ensuring that the loan application moves through the pipeline in accordance with regulatory requirements, while meeting all loan requirements
• Protect member data and handle confidential documents in a professional and ethical manner.
• Back-up activation of completed mortgage files to FICS and process adverse action notices on denied loans.
• Back-up deceased account processing on HELOCs.
• Perform quality control audit of closed mortgage loan files.
• Routinely review and update pipeline reports with loan officers to ensure accuracy.
• Complete underwriter approval of HELOCs in ELA for closing team.
  
  

Qualifications

• Excellent communication, problem solving, and organizational skills
• Strong analytical, critical thinking, and deductive reasoning skills with high attention to detail and accuracy
• Ability to understand and follow policies, procedures, and regulatory requirements for both processing and underwriting
• Effective written and verbal communication skills, communicating confidentially and professionally
• Proficiency in MS Word, Excel, and the ability to quickly learn new software programs (such as core system, loan origination system, and document storage and retrieval system)
• Ability to navigate multiple computer systems, applications, and utilize search tools to find information
• Member service focus with ability to stay positive in interactions with members and team members
• Demonstrated ability to model service expectations
• Dependable in follow through, task completion, attendance, and punctuality
• Two or more years of lending experience preferred
  
  

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