Credit Underwriting - Business Loans

About Us

Efficient Capital Labs (ECL) is a VC backed, innovative fintech company headquartered in the US with a subsidiary in Bangalore, India.

At ECL, our vision is to enable border agnostic access to capital for businesses in emerging markets, such as India, so that they can benefit from lower capital costs that are available in markets such as the U.S. Our mission is to innovate for businesses and solve two of their biggest challenges: access to capital and cost of capital.

We offer non-dilutive capital of up to US$2.5M for a fixed annual fee, with a 12-month repayment term. We serve our customers in a fast, seamless and cost-effective manner that does not require them to spend months of time and thousands of dollars in negotiating complex equity raises through preferred stock issuance.

Job Summary:

We are seeking a detail-oriented Underwriter professional to join our team as an Senior Analyst. In this role, you will be responsible for reviewing and interpreting bank statements to assess financial health, identify patterns, detect irregularities, and contribute to credit and risk decision-making.The Underwriter reviews, conditions, and underwrites loans in accordance with established policies and procedures and appropriate guidelines; examines all documentation for accuracy and completeness.

Job Functions and Responsibilities

• Review and analyze the loan application to ensure eligibility, accuracy, completeness, and compliance

with internal and regulatory guidelines to minimize risk factors Review all required loan data, reports,

and inspections to insure the collateral is acceptable to investor and the company.

• Responsible for making independent decisions regarding acceptance and risk of loans according to HUD, company, and investor guidelines.
• Provides final approval underwriting of loans Conventional, Correspondent, FHA, VA, Reverse.
• Completes all required paperwork and forms in a timely and accurate manner; prepares required forms.
• Sign off conditions in a timely manner set by management.
• Work with team members, sales and management to find solutions on escalated loans. May be requested to make recommendations for improving Internal Audit's policies and practices.
• Manage loans by using all functions of Encompass.
• Effectively communicate underwriting decisions with processors and advisors
• Maintain high level of customer service and communication with other departments.
• Other duties as assigned.

Education / Experience:

• Bachelor's degree
• Minimum of 3- 4 years of experience in Underwriting with thorough knowledge of Financial and nonfinancial supporting documentation, Income calculations, Asset/ Liabilities & Appraisal verification, Credit report review.
• Knowledge about risk and compliance in Lending especially the FNMA & FHLMC Underwriting standards.
• Knowledge about Underwriting procedures of Conventional, Correspondent Lending, , FHA, VA (Government loans) underwriting