Consumer Loan Underwriter

Consumer Loan Underwriter

The Consumer Loan Underwriter is responsible for originating, processing, underwriting, and closing a variety of consumer lending products, including secured and unsecured loans. This role ensures complete and accurate documentation and sound underwriting decisions. Responsibilities are carried out in compliance with Credit Union lending policies, pricing and loan program guidelines, regulatory requirements, and established credit and collateral underwriting standards. The Consumer Loan Underwriter is committed to delivering exceptional member service while identifying opportunities to promote Credit Union products and solutions that support members financial goals.

Essential Duties and Responsibilities

• Make sound underwriting decisions in accordance with the Credit Union's lending guidelines to support profitability, minimize loan losses, and grow the consumer lending portfolio.
• Analyze applicants' income, employment, and financial condition to determine whether to approve, counteroffer, decline, or request additional information when necessary.
• Determine applicant creditworthiness by reviewing credit reports and evaluating key metrics such as debt-to-income and loan-to-value ratios.
• Communicate loan decisions to members and explain loan terms, conditions, payments, and available products to support the members financial goals.
• Meet with members and potential members to identify opportunities to deepen member relationships by cross selling ancillary products, such as debt protection and GAP coverage, by engaging members in needs-based conversations and providing clear, compliant product education.
• Conduct outbound follow-up calls and respond to member inquiries in a courteous, professional, and timely manner.
• Prepare loan documents and coordinate consumer loan closings. Close and fund loans, disburse loan proceeds, and process related products as applicable (GAP, Debt protection, etc.)
• Perform quality control on all loan files to ensure loan and collateral information is correct, required documents and disclosures are provided, and all loan documents are accurately prepared and properly executed prior to funding.
• Maintain accurate loan records and ensure documents are uploaded to the core imaging system in a timely manner, verifying their accuracy and completeness.
• Participate in quality control audits, ongoing training, and compliance initiatives in collaboration with the Lending Department.
• Ensure adherence to all applicable regulatory requirements including, Fair Lending, Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC), and any other applicable federal, state, or regulatory requirements.
• Maintain compliance with all Credit Union policies, procedures, and regulatory guidelines.
• Perform additional duties and responsibilities as assigned by management to support the overall success of the indirect lending program.

Requirements

• High school diploma or equivalent required. Associates degree preferred.
• Minimum 3+ years of consumer and or real estate underwriting experience.
• Strong knowledge of lending fundamentals, credit analysis, and regulatory requirements.
• Excellent analytical, problem-solving, and decision-making skills.
• Proficiency in Microsoft Office suite and loan origination software.
• Able to work in an environment with frequent interruptions.
• Able to manage multiple priorities at once. Ability to analyze Federal tax returns.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
• Basic understanding of NCUA and other applicable operating regulations, and various changes in laws.

Physical Demands

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; and talk or hear. The employee frequently is required to stand, walk, and reach with hands and arms. The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, depth perception, and ability to adjust focus.

Work Environment

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.