Consumer Loan Underwriter

Hanscom Federal Credit Union•Littleton, MA

1d•Hybrid

About The Position

It’s an exciting time to be at Hanscom Federal Credit Union! As a member of our Consumer Loan Department, you will join a dynamic team of purpose-driven individuals committed to delivering exceptional service to our members. Hanscom Federal Credit Union prioritizes its members, making business decisions with them in mind, and operates with integrity, doing what's best for members and the company. Teamwork is emphasized, with all benefiting from collective success. The organization values innovation, identifying new ideas for processes or products and taking initiative to implement changes. Empathy is key, understanding that communication starts by listening, understanding diverse perspectives, and caring about others’ sustained success. The ideal candidate for the Consumer Loan Underwriter role is dynamic, detail-oriented, intuitive, capable of developing relationships, building rapport, and becoming a trusted team member. They should provide a high level of service, possess strong organization and multi-tasking skills, and seek a rewarding career where they are valued and respected.

Requirements

Strong desire to work in a purpose-driven organization
3-5 years consumer loan underwriting experience
Associates degree or equivalent in consumer lending
Must have strong organizational, analytical and member service skills
Knowledge in underwriting consumer loans
Knowledge of consumer lending regulatory compliance
Familiarity with standard concepts, practices and procedures within the consumer lending and indirect lending industry
Ability to work independently in a high-volume application environment
Must be authorized to work in the US

Responsibilities

Have a full understanding of all consumer lending underwriting criteria including auto loans, personal loans, credit cards, and reserve lines of credit.
Analyze employment profile, credit history and strength, collateral, and all other information pertinent to the credit decision process on each credit application.
Calculate disclosure requirements and instructions for loan closings.
Follow the guidelines of risk-based pricing.
Maintain a balance between efficiency, service and accuracy.
Be proficient in analyzing application information for accuracy and completeness.
Be proficient in identifying information provided by dealers that may be inconsistent.
Be proficient in underwriting the self-employed borrower and evaluating said proof of income.
Evaluate and verify the accuracy of the loan product and pricing for each loan.
Identify all possible counteroffer situations to ensure the applicant’s options are fully determined and that fair lending was applied in all cases.
Approve loans within restricted guidelines and authority.
Deny unqualified loan applications and/or suggests alternative courses of action.
Request co-signer/guarantor if necessary.
Follow Credit Union procedure for withdrawing and declining loan application.
Actively cross-sell Credit Union products and services including GAP, MBP, and Payment Protection.
Condition loans for approval if necessary, providing stipulations as needed to support loan documentation and quality.
Have a full understanding of account opening procedures
Become adept with lending software.
Represent the credit union in a professional manner; provide quality service to members and internal customers and CUSOs.
Report all problems or adverse situations to the Consumer Lending Team Lead as they arise and handle accordingly as instructed.
Maintain knowledge of compliance laws applicable to fair lending including Equal Credit Opportunity Act (ECOA), Regulation Z (Truth-in-Lending), Fair Credit Reporting Act and other state and federal laws that may be applicable.
Assume additional responsibilities as requested.