Consumer Loan Underwriter

About the role

Responsible for reviewing, underwriting applications for consumer direct & indirect, home improvement, home equity, credit card and line of credit loans. Ensures internal customers are promptly and professionally served. Assists staff with loan account problems and answers questions about Credit Union loan policies, procedures, products, and loan decisions. Communicates the need for additional loan information and documentation to formulate and relay credit decisions. Processes new member accounts and loans received via indirect channels. Ensures accuracy of information needed to formulate a decision based on set criteria within the credit union loan origination system. Analyzes data to formulate decisions outside of automated processes capabilities. Ensures compliance with Fair Lending laws and federal regulations of consumer loans. Presents loan requests above lending limits for approval as per loan policy.

Responsibilities

• Evaluates and analyzes current financial position of members to determine the degree of risk involved in extending credit or lending money.
• Makes decision to approve, deny, or forward the loan request to higher levels for decision.
• Requests additional information if required.
• Prepares complete and accurate home equity loan documents.
• Explains the home equity terms and conditions as well as the options to members.
• Completes home equity closing process with the member.
• Aids in servicing loans by processing items such as payoffs, refinances, problem loan workout arrangements, payment extensions, collateral releases, and payment due date changes at the direction of the Collections department and Lending Manager.
• Ensures compliance with terms and conditions on current loans.
• Reviews terms, conditions, and stipulations post-funding for loans ensuring the information's accuracy and integrity.

Requirements

• Bachelor's Degree Required
• Good understanding of financial services and products provided
• Knowledge of Credit Union loan services, policies, and procedures
• Understanding of related legal and regulatory standards, and required loan documentation
• Knowledge of consumer and residential lending practices
• Two years to five years of similar or related experience

Skills

• Excellent interviewing, communication, and public relations skills
• Professional appearance and attitude
• Strong analytical and financial skills
• Ability to operate related computer applications, and other business equipment including calculators, typewriter, printer, telephone, and notary stamp

Physical Activities and Requirements

• TALKING: Frequent
• REPETITIVE MOTIONS: Occasional
• FINGER DEXTERITY: Occasional
• AVERAGE HEARING: Required
• AVERAGE VISUAL ABILITIES: Required
• PHYSICAL STRENGTH: Sedentary