Role OverviewThe Consumer Loan Underwriter reviews and decides all online and in-branch loans and accounts, evaluates mortgages processed by third parties, and ensures compliance with lending regulations, policies, and procedures. The goal is to achieve fast decision times and a quality loan portfolio that serves the members' needs and aligns with the credit union's philosophy.
What You Will Do
The Consumer Loan Underwriter will utilize provided lending authority, underwrite a diverse array of loans, communicate loan and account decisions effectively, and assist in evaluating policies and procedures. They will also review auto-decisioned loans, ensure underwriting goals and loan standards are met, and produce monthly reports for the VP of Lending.
Why It Might Be a Fit
The ideal candidate is a proven decision-maker familiar with lending 'outside the box' in a risk-based lending environment, including those with subprime or thin credit history. They should be comfortable making consistent decisions within a broad range of authority and within alignment of the credit union's risk tolerance.
Requirements
- Two-year college degree or equivalent work experience
- Required National Mortgage Licensing System (NMLS) registration under the terms of the S.A.F.E. Act of 2008 and Regulation Z
- Comprehensive knowledge of credit union operations, policies, procedures, products, and services
- Thorough knowledge of consumer and real estate lending, especially risk-based pricing, underwriting, and collections
- Minimum three years credit union or bank experience and knowledge of their operations, policies, and procedures
- Extensive knowledge of lending, especially underwriting involving subprime borrowers
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