Indirect Auto Loan Buyer at Sunward Federal Credit Union – Albuquerque, New Mexico

Job Summary:

In this role, you will play a pivotal part in processing and originating of indirect loan applications.

Essential Job Duties:

• Assesses and analyzes borrower's financial profiles, including credit history, income stability, debt-to-income ratios, loan to value ratio, assets and other relevant information.
• Reviews loan applications to determine the creditworthiness of applicants and the likelihood of loan repayment.
• Calculates key ratios and assesses credit history to determine borrower ability to repay.
• Ensures all indirect loan applications comply with credit union policies, underwriting standards, and regulatory requirements.
• Calculates and evaluates applicants' debt servicing ability using various financial tools and credit scoring models.
• Obtains and verifies all necessary documentation, such as income verification, employment history, and financial statements.
• Makes loan approval or rejection decisions based on thorough risk assessment, underwriting criteria and increased approval limits, refer to the General Loan Policy
• Clearly documents and communicates the reasons for the approval or rejection of loan applications.
• Collaborates with loan processors, originators, and other stakeholders to gather additional information or clarification as needed.
• Recommend loan terms and conditions and suggest alternative loan structures to better fit the borrower's needs and risk profile.
• Answers underwriting inquiries and provides detailed and accurate response in a timely manner
• Escalates loan file with recommendation that exceed individual lending authority and/or of high complexity and associated risks to an Indirect Underwriter 2,3, 4 or Supervisor.
• Build strong relationships with dealerships to ensure the success of the indirect lending program, focusing on open communication, consistent underwriting, support and training, flexibility, and incentive programs.
• Performs other duties as assigned.

Required Skills/Abilities:

• Excellent interpersonal and negotiation skills.
• Excellent organizational skills and attention to detail.
• Strong proficiency with Microsoft Office applications. Familiar and comfortable with information technology, particularly digital means of communication.
• Strong organizational skills in managing multiple initiatives.
• Strong analytical and decision-making skills

Knowledge:

• Familiarity with credit and underwriting principles
• Familiarity with federal and state regulations affecting loans

Education and Experience:

• Minimum one year’s experience in loan underwriting, lending or related experience
• Minimum high school diploma/GED or more than one year of related experience.

Physical Requirements:

Prolonged periods of sitting at a desk and working on a computer.

Must be able to lift 5 pounds at times.