Loan Officer

Description

SUMMARY

Key contact for WELS congregations interested in purchasing / expanding land and facilities for the purpose of gospel outreach. Assembles, examines, evaluates, and recommends decisions on loan requests made to the WELS Church Extension Fund (WELS CEF). Directly responsible for loan development and reporting of potential (pipeline) loan requests, tracking, renewals and reporting of the CEF Boards Loan Committee decisions, assists Board for Home Missions (BHM) and its District Mission Boards with planning activities involved with new land and facility requests by performing the following duties.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned.

• Loan Application development: Works directly with Congregation’s Pastor and Elected Officers to define the scope of the project, stages of purchase and or construction, stages of application process and required organizational documents required prior to application, approval process inclusive of Loan Committee review and contingencies, down payment requirements and grant eligibility, financial reporting required, projections for congregational and financial growth and the WELS CEF policy parameters for the application process.

• Credit analysis and Underwriting: Analysis of provided project details in conjunction with financial data and congregation projections inclusive of Debt Service Coverage Ratio calculation, Loan to Value, Credit Scoring / loan Risk analysis and grading. Development of a conforming amortization schedule and credit extension structure which meet the project scope and the congregation’s ability to repay.

• Collateral Analysis: Procurement and analysis of the as completed MAI appraisal of the land and improvements that will secure the CEF loan transaction. Obtain and analyze architectural drawings, survey, environmental study, civil engineering study, etc. and coordinating that activity with local vendors.

• Credit Presentations: Timely, accurate, and methodical development of the credit presentation materials that include a Request summary, Credit Policy exceptions, Loan development summary inclusive of BHM and other support, Collateral analysis section which clearly defines the value and ratios and the Loan Officer’s recommendation for Loan Committee action inclusive of contingent approval conditions.

• Communication: Written development and delivery of CEF Lending Commitment letters to applicants which provide all of the detailed loan approval conditions, origination costs, contingent approval conditions, estimated time frame / target closing date. Conditional changes to the original loan commitment based on the technical aspects of the underwriting (Appraisal, Survey, Civil Engineering issues, etc.). Accurate communication with Borrowers, Title companies, General contractors on the construction loan process draws and reporting.

• Relationship Management: Work with new origination congregations and assigned portfolio congregations on annual financial statement receipt and analysis, note renewals, additional credit requests, restructuring requests, repayment questions and performance, and all collateral related requests.

• Documentation: Work with CEF Corporate Counsel and state specific Counsel to develop loan documentation which conform to the states we intend to provide lending to inclusive of: Loan & Security Agreement, Note, Mortgage / Deed of Trust, and other documentation as may be required based on the loan conditions. Ensures loan agreements are complete and accurate, adhere to Loan Committee conditions of approval, and according to current CEF policies. Assures timely loan closing and funding activities.

• Reporting: Maintain and report on the Loan Committee actions monthly, update and report on potential new loan requests, and summarize progress on in construction loans, make projections of upcoming construction draws, and report / take action on end of draw period loan conversions and or extensions of the construction draw period.

• Credit Policy: Working with and at the direction of the Executive Director, provide credit policy recommendations / appropriate changes to ensure the safety and soundness of new and term renewing actions and policies.

These requirements are representative, but not all-inclusive, of the knowledge, skill, and ability required to perform this job. Other duties may be assigned.

Qualifications

QUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE

Bachelor's degree (B.A.) from four-year college or university; Five to eight years of credit analysis / lending experience.

CERTIFICATES, LICENSES, REGISTRATIONS

Series 63 investment licensing NASAA required within one year of employment.