What are the responsibilities and job description for the SBA Underwriter & SBA Loan Packager position at Waterstone LSP, LLC?
The SBA Loan Packager plays a crucial role in the loan origination process, ensuring that Small Business Administration (SBA) loan applications are meticulously prepared and organized. This position involves compiling, reviewing, and arranging all relevant documents required for SBA loan approval. The SBA Loan Packager collaborates closely with loan officers, underwriters, and other team members to facilitate the successful packaging and closing of SBA loans.
Responsibilities:
- Document Compilation: Work with clients to prepare loan applications by gathering necessary paperwork, including financial statements, tax returns, business plans, and other relevant documents.
- Feasibility Assessment: Evaluate the feasibility of granting loans based on the provided documentation and communicate any concerns to management.
- Loan Packaging: Package SBA loan application files, ensuring completeness and accuracy. This includes organizing loan documentation in accordance with SBA guidelines.
- Advance Processing: Process advances and disbursements related to SBA loans.
- Payoff Letters: Prepare payoff letters for borrowers when necessary.
The SBA Underwriter plays a crucial role in the loan origination process, ensuring that Small Business Administration (SBA) loan applications are eligible and credit worthy. The SBA Underwriter takes the lead in more complex loans and takes on a higher workload as well as mentoring junior underwriters through peer review of underwriting packages.
Responsibilities:
- Loan Analysis: Conduct thorough analysis of loan applications, financial statements, and related documents to assess creditworthiness.
- Risk Assessment: Evaluate the potential risks associated with loan applicants and recommend appropriate credit limits.
- SBA Compliance: Ensure all underwriting activities adhere to SBA’s Standard Operating Procedures (SOP) and guidelines.
- Decision Making: Make credit recommendations on new and renewal SBA loans, ensuring they align with the bank’s policies and procedures.
- Collaboration: Work closely with loan officers, borrowers, and SBA representatives to facilitate the loan process.
- Mentoring: Guide and mentor junior underwriters and other team members.