Job Details

Consumer Underwriter

The Consumer Underwriter is responsible for analyzing and evaluating consumer loan applications to determine if an extension of credit should be made. Loan applications will be decisioned based on applicant's credit qualifications and ability to repay and collateral (if applicable). The underwriter will use their individual credit skill sets and risk assessment skills within credit union underwriting guidelines, lending policies, procedures, and designated underwriting authority to either grant approval, counter-approve, or decline loan applications. The Consumer Underwriter must be able to explain clearly with written and verbal communication loan decisions on applications to lending staff. Responsible for resolving any credit disputes that are received on existing loans through direct and indirect channels.

Responsibilities:

• Independently review and decide on loan applications within established underwriting guidelines and underwriting authority. Evaluation of factors including debt-to-income ratio, analyzing credit reports and historical/current trends, calculation of income, and loan-to-value in making loan decisions. Consider ever-changing current economic and market conditions in decision-making process and applicable program/product specifications with analysis of Credit, Capacity, Capital, Character, and Collateral.
• Works with lending and front line to communicate reasons for declines, offer alternative dollar amount approvals and/or loan structures as appropriate. Sets required conditions around income verification and verification of employment in decisioning loans to meet members needs without comprising risk and exceptions to credit policy.
• Validate all data from applications contained in Loan Director. Must also be proficient in reviewing income documentation to ensure verification and catch fraudulent documents. Serve as the primary line of defense to stop fraudulent applications. Effectively communicate decision criteria in Loan Director notes. Resolve credit disputes daily though E-Oscar direct and indirect from members.
• Provide guidance to Consumer and Closing Specialists in developing solutions and structuring on challenging loans. Communicate loan decisions to lending staff in a timely manner.
• Other duties and special assignments designated by CLO.