Consumer Underwriter 1

Job Type

Full-time

Description

Job Summary:

A Consumer Underwriter 1 reviews loan documents and appropriately decisions auto, personal and credit card loan applications, by assessing financial risk, analyzing data, reviewing borrower’s creditworthiness, and ensuring compliance with banking regulations, while making critical loan underwriting decisions

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 consumer 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.
• Recommends loan terms and conditions and suggests 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 a Consumer Underwriter 2,3, 4 or Supervisor.
• Performs other duties as assigned.
  
  
  

Requirements

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

Education And Experience

• Minimum one years’ 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.
  
  
  

Salary Description

$23.04-$28.80 (Depending on Experience)