Consumer Loan Underwriter
About the role
First Fed is a local community bank on an exciting growth trajectory with 15 locations including 11 full-service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace and a Top Corporate Philanthropist. By popular vote, First Fed received awards for Best Bank in The Best of the Northwest, Best Banker in Readers' Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula. We also received a Best-In-State bank award from Forbes. For over 100 years First Fed has served our customers and communities throughout the PNW. We've donated over $9 million to non-profit organizations in the past 8 years through our foundations, sponsorships, direct donations, and matched employee donations. Our amazing team has volunteered over 25,000 hours in the past 5 years – many by using our benefit of 3 paid volunteer days per year! We welcome applicants from all backgrounds – our diversity makes us stronger.
Our Values:
- Optimism: We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.
- Initiative: We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.
- Respect: We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.
- Growth: We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.
- Ownership: We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.
The Consumer Underwriter is accountable for the underwriting, documentation, and closing of consumer loans in accordance with regulatory requirements, internal policy, and portfolio standards. This role supports sound credit decisions, operational efficiency, and a high-quality customer experience while serving as a resource to branch personnel on consumer lending programs and processes.
Responsibilities
- Underwrite and process consumer loans, ensuring complete documentation, regulatory compliance, and adherence to portfolio and wholesale guidelines.
- Review borrower credit, income, assets, collateral, pricing, and product eligibility to support sound credit decisions within assigned authority.
- Coordinate third-party reports and vendor activity, including title, flood, appraisal, and insurance requirements, to support timely loan closing.
- Prepare and review closing documents to ensure accuracy, completeness, and compliance.
- Maintain current knowledge of lending programs, underwriting standards, policies, procedures, and systems.
- Partner across departments and provide guidance to branch personnel to support service excellence and consistent loan quality.
- Perform other related duties as assigned.
Qualifications
- High school diploma or equivalent required; associate degree in accounting, finance, real estate, or a related field preferred.
- Strong analytical, problem-solving, and decision-making skills.
- Sound judgment in credit and collateral evaluation.
- Ability to manage multiple priorities independently in a deadline-driven environment.
- High degree of initiative, accountability, and commitment to continuous learning.
Role Levels:
- Junior Consumer Loan Underwriter – Provides underwriting support and analytical assistance to the Consumer Credit department with approval authority up to $50,000; typically requires two years of related experience or equivalent internal experience.
- Consumer Loan Underwriter – Independently underwrites, processes, and closes consumer and wholesale loans with approval authority up to $250,000; typically requires two years of underwriting experience.
- Senior Consumer Loan Underwriter – Serves as a senior underwriting resource, providing mentorship and advanced credit expertise with approval authority up to $500,000; typically requires five years of underwriting experience and is able to perform all the duties in the Consumer Credit Department.
Physical Requirements: This role requires the ability to operate standard office equipment, communicate effectively in person and remotely (telephone, video conference, written communication, etc.), and work in a combination of sitting and standing throughout the day. Reasonable accommodation may be available to enable qualified individuals with disabilities to perform the essential functions of the position.
Pay
The pay range for this position is $22.67 - $38.55 per hour. The typical hiring range for this position is $22.67 - $26.02 per hour. The incentive plan for this position is the Partnership Incentive plan Tier 2. It is paid out quarterly with a 7.5% target payout.