Consumer Loan Underwriter

Title: Consumer Loan Underwriter

Reports to: Consumer Loan Underwriting Manager

Supervises: None

Status: Non-Exempt

Objective

The Consumer Loan Underwriter is responsible for representing the financial interests of both Members and the Credit Union by making responsible and prudent lending decisions. This role will be responsible for reviewing, analyzing, approving, and underwriting consumer loan requests and products within company and industry guidelines, ensuring timely turnaround and ongoing performance of loans originated.

Duties and Responsibilities

• Receives, reviews and processes requests for credit:
  • Evaluates and verifies loan applications and credit criteria; ensures all loan documents are accurate, complete and compliant; reviews financial statements, credit reports, applicable ratios and other supporting documentation; computes needed ratios; verifies employment and income; determines value of collateral ordering and review of all third-party vendor services to include AVM, Appraisal, Flood, and Credit Supplements etc. review, conditioning and final decisioning of the loan product
  • Approves loans within authorized underwriting authority and recommends warranted exceptions with acceptable compensating factors
  • Uses an automated scoring system or traditional underwriting to determine acceptability of credit requests and approves loans within limits of authority; contacts Members to gather additional information if necessary to make appropriate decisions; calculates terms, finance charges and insurance premiums on loans for proper disclosure on promissory notes
  • Explains rationale with clear documentation behind credit decisions
  • Communicates lending decisions in a clear and professional manner
  • Monitors loan application pipelines to ensure timely processing and decision making
• Ensures compliance with the credit union’s lending policies, procedures, and regulatory requirements. Recommends changes to policies and procedures with strategic alignment
• Assumes responsibility for establishing and maintaining effective coordination and communication with staff and management:
  • Assists staff in other departments
  • Assists in training and cross-training Lending and Member Services staff
  • Completes reports and records promptly and accurately
• Strives to meet all goals established for this position
• Performs all duties in a manner that is fully compliant with applicable industry regulations as well as KEMBA policy and procedures
• Develops an understanding of Credit Union history, philosophy, organization, policies, and operational procedures
• On a self-direct basis, continues to improve individual level of competency through training and certification on established educational programs
• Relates to others beyond giving and receiving instructions:
  • Communicates with coworkers or peers without exhibiting behavioral extremes
  • Performs work activities requiring negotiating, instructing, supervising, persuading, or speaking with others
  • Responds appropriately to criticism from a supervisor
• Performs other duties as required by management

Required Qualifications

• College graduate or equivalent work experience with required loan training and certification
• 3 years lending and financial services industry experience
• Knowledge of state and federal lending statutes and required loan documentation
• Knowledge of consumer and residential lending practices
• Thorough knowledge of loan origination procedures and terminology
• Credit bureau familiarity
• Strong analytical and financial skills
• Ability to work quickly, with extreme accuracy and attention to detail
• Solid research skills and the ability to understand complex underwriting directives
• Effective verbal and written communication skills

Physical Demands

The physical demands listed below represent those necessary to perform the essential functions of this role. Reasonable accommodation may be provided to enable individuals with disabilities to perform these functions.

The employee is regularly required to sit, use their hands, reach with arms, and communicate verbally and orally. Occasional standing, walking, and lifting of objects up to 25 pounds are required. Vision requirements include close, distance vision, and focus adjustment.

Eligibility

Laptop: Yes

Remote/Hybrid Work: Yes

Cell Phone Reimbursement: No

Vehicle Reimbursement: No

Incentive(s): No

Equal Opportunity Employer/Vet/Disabled

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