Consumer Loan Underwriter

First Atlantic Federal Credit Union • Eatontown, NJ

234d

About The Position

We are seeking an ONSITE Consumer Loan Underwriter to assist First Atlantic Federal Credit Union to live out our Mission and Vision by working directly with the Lending Manager to provide the best value financial services to members by providing outstanding service to both external and internal members. The primary purpose of this position is to assist First Atlantic Federal Credit Union to live out our Mission to provide best value financial services to members by providing outstanding service to both members and internal members. In addition, provide quality member service, promote Credit Union loan products, examine, evaluate, and authorize or recommend approval of member applications for loans by performing the following duties. Assists members with their consumer needs, analyzing consumer loan requests and making credit decisions based on the lending policy. Consumer loan underwriting experience is a must have. Consumer loans include, autos, credit cards, lines of credit and unsecured personal loans.

Requirements

• Consumer loan underwriting experience is a must have.
• Ability to analyze consumer loan requests and make credit decisions based on the lending policy.

Responsibilities

• Reviews consumer loan applications to develop information concerning their loan needs, earnings, financial condition as well as cross sell opportunities that benefit the member and the credit union.
• Prepares and/or reviews all loan documents for completeness and accuracy including but not limited to the quality control (QC) of funded loan files.
• Analyzes current financial position of members to determine the degree of risk involved in extending credit or lending money.
• Makes decision to approve, disapprove, or forward the loan request to higher levels for decision according to the lending policy and loan matrix.
• Establishes the terms and conditions of an approved loan and reviews them with the member or Indirect lending partner.
• Explains loan programs to members, evaluates their needs and recommends loan options.
• Keeps informed of current trends in credit.
• Follows current loans to ensure compliance with terms and coordinates with Asset Recovery.
• Authorize release of collateral on existing loans, changes in loan terms, waivers of payments, due date change, etc.
• Participates in sales development activities.
• Provides assistance to all departments and branches, involved with the selling of lending products.
• Actively participate in community social events and major community activities involving the credit union.
• Will maintain account relationship(s) with the credit union to better understand the products and services.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Credit Intermediation and Related Activities