Consumer Loan Underwriter

Purpose:

Completes the underwriting for a variety of consumer loan products, including auto, secured and unsecured lines of credit, and recreational collateral. Decisions loans within the underwriter’s own credit authority limits and in accordance with the established policies and procedures of the credit union. Actively works to mitigate risk by employing a thorough, logical, and intentional thought process in decision making. Promotes the use of credit union services and products by recommending strategies to obtain the best results based on each member’s individual needs.

Responsibilities:

• Analyzes loan applications, credit bureau reports, collateral evaluation, member account data, financial statements, tax returns, and other loan documentation to make lending decisions on a variety of loan products in conformance with fair lending, regulatory compliance, and established credit union policies and procedures.
• Reviews loans to ensure accuracy. Approves or denies loans based on risk factors within approved authority, reviewing underwriting decisions with the Loan Production Manager, Consumer Loan Underwriting Manager, or Underwriter Lead as appropriate. Communicates loan decisions (approve, counteroffer, or decline) to the appropriate lending channel.
• Fosters and maintains positive relationships with dealer and merchant partners through verbal and written communication.
• Serves as a resource on consumer loan products/services of the Credit Union; responds to internal and external loan-related member questions and research.
• Keeps current with knowledge of lending product updates, criteria, guidelines, procedures, policies, and processes to make sound lending decisions.
• All other duties as assigned.

Previous Experience:

Minimum 2 years of consumer lending processing and underwriting experience.

Knowledge, Skills, and Abilities:

• Proficient in credit scoring models and loan underwriting guidelines.
• Knowledge of credit union policies, procedures, processes, and Core Values.
• Deposit operations (BSA, Regs. CC, DD, E, D, and Q).
• Expertise in Fair Credit Reporting, Fair Lending and Debt Collection Practices, and compliance with federal, state, and local laws, statutes, regulations, and standards.
• Familiarity with Truth in Lending Regulations (Z, E, and B).
• Expertise in loan collateral types and their role in determining loan qualifications.
• In-depth knowledge of loan services, features, and benefits offered by the credit union.
• Actively learn and apply new information for effective decision-making and problem-solving.
• Seek opportunities to assist members, dealer partners, and co-workers.
• Establish and maintain strong relationships with all credit union staff.
• Establish and maintain strong relationships with dealer and merchant partners.
• Perform effectively in environments with frequent changes in work volume and competing demands.
• Research job-related functions, find solutions, and make sound decisions within the scope of responsibilities.
• Maintain a high standard of confidentiality and attention to detail.
• Perform duties independently or as part of a team, adapting to work volume and shifting priorities in a high-pressure environment.
• Provide excellent customer services in both written and oral communication.