Consumer Lending Underwriter
About The Position
The Consumer Lending Underwriter assists members, staff, and third parties with consumer lending underwriting. The role reviews newly submitted consumer loan applications, evaluates credit and fraud risk, verifies income and other required information, and makes underwriting decisions with applicable stipulations using established guidelines, risk tolerances, and policy limits. The underwriter ensures approved applications comply with policies and product requirements, documents underwriting activity, and follows applicable laws, regulations, policies, and procedures. The role also communicates decisions, supports related questions from consumers and internal teams, and identifies possible cross-sale opportunities.
Requirements
- At least two years of similar or related experience in lending, banking, or financial services.
- High school diploma or equivalent.
- Strong attention to detail, accuracy, and compliance.
- Excellent communication and customer service skills.
- Ability to handle sensitive information with discretion.
Nice To Haves
- General knowledge of lending industry regulations, including Reg B, D, E, Z, CC, DD, FCRA, BSA, Patriot Act, Anti-Money Laundering rules, OFAC, HMDA, TRID, ECOA, FDCPA, TCPA, and MLA.
Responsibilities
- Review newly submitted loan applications for accuracy and evaluate them.
- Identify potential credit and fraud risk in loan applications.
- Issue underwriting decisions with applicable stipulations.
- Request, review, and verify key verifications, including income calculations to assess applicants’ ability to repay.
- Verify that loans meet all policies and product requirements.
- Recommend policy exceptions to the department manager.
- Document underwriting actions, decisions, and stipulations in the loan origination system.
- Underwrite loan applications in a timely and efficient manner.
- Make sound credit decisions using current risk parameters established by management.
- Provide explanations for declined credit for use in Adverse Action notifications.
- Review applications for possible cross-sale opportunities.
- Communicate lending decisions to consumers when questions arise.
- Assist other departments and branches with lending and underwriting questions or issues.
- Comply with applicable laws, regulations, policies, and procedures.
Benefits
- Paid time off, up to 15 days in the first year of service, increasing with tenure.
- Volunteer Time Off, up to 16 hours yearly.
- 401(k) plan with a 7% company match.
- Health, dental, and vision insurance.
- Health Savings Account with an employer contribution available.
- Free vision insurance.
- Life and disability insurance provided by the credit union, with optional supplemental coverage available.
- Professional development.
- Educational assistance.
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
