Overview:
We are seeking a dynamic and experienced Loan Officer with exceptional underwriting skills to join our team. The ideal candidate will have a comprehensive understanding of lending principles, excellent communication skills, and the ability to assess risk accurately. As a Loan Officer with underwriting capabilities, you will be responsible for evaluating loan applications, determining creditworthiness, and making informed decisions regarding loan approvals.
Responsibilities:
- Evaluate loan applications to determine eligibility and risk level.
- Analyze financial documents such as income statements, tax returns, credit reports, and bank statements.
- Assess creditworthiness of applicants based on established criteria and guidelines.
- Calculate debt-to-income ratios and other financial metrics to determine loan affordability.
- Conduct thorough appraisals to assess collateral value.
- Communicate effectively with applicants to gather additional information and clarify any discrepancies.
- Collaborate with other team members to ensure timely processing and closing of loans.
- Stay updated on industry regulations and compliance requirements.
- Provide guidance and assistance to members throughout the loan application process.
- Maintain accurate records of loan applications, approvals, and denials.
- Be able to sell credit union services, such as GAP, warranties, debt protection.
- Successfully close loans by cross selling off a credit report.
Requirements:
- Bachelor's degree in finance, business administration, or related field (preferred).
- Proven experience as a Loan Officer with underwriting responsibilities.
- Strong analytical skills and attention to detail.
- Excellent communication and interpersonal abilities.
- In-depth knowledge of lending practices, regulations, and compliance standards.
- Proficiency in using underwriting software and financial modeling tools.
- Ability to work efficiently in a fast-paced environment and manage multiple tasks simultaneously.
This is a Full-Time position. An educational background in a financial field will be beneficial to the position.
Illinois State Credit Union is committed to equal opportunity for all employees and applicants. This position will be filled at the appropriate level based on previous experience and qualifications.
Job Type: Full-time
Pay: From $18.00 per hour
Expected hours: 40 per week
Benefits:
- 401(k)
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Life insurance
- Opportunities for advancement
- Paid time off
- Vision insurance
- Wellness program
Compensation package:
- Bonus opportunities
- Commission pay
- Profit sharing
Payment frequency:
Schedule:
- 8 hour shift
- Day shift
- No nights
- Weekends as needed
Work setting:
Experience:
- Fair Housing regulations: 1 year (Preferred)
- Loan origination: 1 year (Preferred)
- Sales: 1 year (Preferred)
Ability to Commute:
- Normal, IL 61761 (Required)
Ability to Relocate:
- Normal, IL 61761: Relocate before starting work (Required)
Work Location: In person