Consumer Loan Underwriter

Wintrust Financial Corporation•Rosemont, IL

1d•$59,000 - $77,000•Onsite

About The Position

The Consumer Loan Underwriter is responsible for processing applications, underwriting loans, and recommending loan decisions based on established credit policies, procedures, and regulatory requirements. This role ensures sound lending decision while balancing risk, compliance, and customer experience. Underwriter is responsible to resolve any discrepancies or issues identified in file, in a timely and professional manner in order to be able to determine loan decision. This individual must possess excellent organization skills, problem solving skills, and must be able to work in a fast-paced environment.

Requirements

3-5 years of relevant experience.
Must possess knowledge and understanding of consumer lending, loan terms, credit underwriting, and consumer lending regulations.
Strong written and verbal communication and organizational skills, with the ability to effectively multi-task.

Nice To Haves

Bachelor’s degree preferred.

Responsibilities

Verify accuracy and completeness of application information and supporting documents (all required signatures obtained, financial information received, collateral qualifies, purpose of the loan is permissible, insurance received, etc.)
Complete all required due diligence that consists of but is not limited to: fraud, BSA and MLA screening, borrower’s eligibility to borrow, verify income, verify length of employment, bank relationship, etc.
Issue Incomplete Letter, if required to obtain additional information form borrowers.
Assess applicant’s creditworthiness using credit reports, application information, and income documentation to calculate debt to income ratio, calculate loan to value ratio, and determine overall risk of the applicant. Must be able to identify alternative financing options for borrowers that do not qualify for their original requests
Determine loan decisions such as approval, denial, counteroffer, or approval with condition and ensure these are completed in a timely manner following regulatory requirements. Present loan decisions in accordance with established procedures and underwriting criteria applying delegated credit authorities per Wintrust policies. Issue corresponding adverse action notices when and if required.
Maintain detailed and accurate records of decisions and supporting analysis.
Ensure adherence to established policies and procedures, as well as maintenance with service level agreements. Work closely and provide support to all affiliated charters to help build strong relationships with customers.