Loan Underwriting and Processing Support for Credit Unions

Take on additional opportunities you would otherwise pass on and use it as a bridge for future sustained growth or impress a new client, either way we help you meet your demands.

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Start to Finish Loan Underwriting and Processing for Credit Unions

Credit Unions are the backbone financial support of many communities, but may lack the resources to meet growing needs. We assist Credit Unions that either don’t have the underwriting resources to allocate for their increasing business loan opportunities or those that like would to complement their internal underwriting staff with an outsourced option.


We aid those Credit Unions that are actively increasing their portfolios and who wish to focus more on origination of loans rather than the time-consuming process of underwriting them.

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Future Growth

The tight labor market means that in house expertise will come at a significant long term cost that can be difficult to support as rising interest rates cool demand. However, that does not mean you need to pass something up due to insufficient resources. We can help with impressing that new client which can be a bridge to permanent in house resources.

Loan Underwriting and Processing Support for Credit Unionss

Our Approach

Preliminary Eligibility Assessment

Before anything begins we make sure that key loan conditions are agreed upon and understood up front with the borrower. This allows us to avoid costly surprises later in the process.


We have developed an assessment process that facilitates rapid evaluation of prospective SBA loan applications.


During this time our team works closely with your lending team. Together we will work to develop not only a compliant structure, but one that also aligns with your institution’s credit criteria. 


Credit Analysis & Underwriting

When you work with Morrissy Metcalfe and Associates we bring to the table a robust electronic underwriting system. Within this system we have developed strategies to ensure a compliant financing memorandum and a detailed underwriting process. 


The underwriting team that you will work with will analyze each credit request to support your internal approval. Our systimatic approach involves incorporating key eligibility criteria that is not customarily evaluated within conventional credit analysis.

Loan Processing & Packaging

When it comes to an SBA loan application's processing, there is a certain level of specialized expertise required to ensure not only compliance but avoiding lengthy and costly delays. 


The experts at Morrissey Metcalfe and Associates can handle your entire process of the loan application process and will ensure loans make it through final agency approval.

Closing

Morrissey Metcalfe and Associates will coordinate with the lender to ensure we have satisfied all closing conditions and avoided costly missteps. 


Before anything is closed we will review all due diligence and loan documentation examining key items that result in guaranty repairs, denials, or audit exceptions.

Credit Unions Often Ask Us...

  • We’re a small Credit Union with only a few underwriters – how can you help us?

    We have all the experienced underwriters you need. If the number of deals you’ve have pending exceed the capacity of the underwriters you have, Morrissey Metcalfe and Associates can reduce the backlog and get the memo done and ready for submission.

  • We’re not comfortable using outside underwriters, what's your background?

    • Over a combined 134 years of commercial loan underwriting experience for the associate team 
    • Ran and operated several SBA divisions in small, medium, and large-sized banks and credit unions
    • 1,000’s of commercial lending loans including SBA 504 and SBA 7 (a) loans (averaging 20+ years per associate)

  • How do you underwrite the deal?

    We’ll underwrite it in your system or use our propertiery software where you can see our progress, review our work and where you remain in control.

  • We’re concerned about the quality of outside contractors’ work – how do we know your quality is good?

    First, you can ask our references. We work for about 10% of the CDCs, many LSPs, Banks and Credit Unions throughout the United States. Also, we can send you redacted credit memos for your examination.

  • How does the workflow happen?

    After you collect the information, you need for the deal to go to underwriting, you securely transmit it to us via your favorite file sharing software. We assign one of our underwriters to your deal. He or she will work with your BDO and/or your Underwriting Manager. If the package is complete, we’ll get the list of questions out to you within 3 business days after receiving the deal. Once the questions are answered the credit Memo is then completed, usually within a total time of 5-7 business days. We promise not to pester you with a bunch of emails, calls or questions multiple times a day. We call this “the death of a thousand cuts”. We know your busy. We contact you when we need to, but we’re always available by phone of email any time you need us.

  • How do you work with our existing team?

    We typically assign an underwriter to your deal. That underwriter will generally work with you BDO and/or assigned Underwriting Manager (you help determine this). If the package is complete, we’ll get the list of questions out to you within 1-2 days after accepting the file. Once those questions are answered, within two days, your deal will be ready to go. We don’t pester you with a million questions but we communicate with you as much as you like.