Consumer Loan Underwriter
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About The Position
The Consumer Loan Underwriter at Meritus Credit Union is responsible for evaluating and analyzing all consumer loan application information submitted during the loan approval process. This role involves making decisions on consumer loan requests within the designated approval authority, adhering to the lending policies and guidelines set forth by Meritus Credit Union. The position requires a professional with well-developed communication skills, as the underwriter must effectively interact with branch personnel and provide timely credit decisions. The job demands a solid understanding of consumer loan policies, credit granting criteria, interest rates, and the necessary documentation for various types of loans. Additionally, intermediate or higher mathematical skills are essential for this role, as the underwriter will be required to perform calculations related to loan assessments. The underwriter will maximize revenue by practicing sound risk management principles and demonstrating strong analytical skills and sound underwriting judgment. Compliance with Meritus Credit Union's underwriting policies is crucial, and the underwriter will serve as a liaison between Central Underwriting and Retail Branch staff. Active participation in risk and opportunity meetings is expected, where the underwriter will evaluate risk issues and stay updated on changes in policies and procedures. The role also involves monitoring the queue for loan applications, reviewing and interpreting credit reports, and making sound loan decisions within acceptable time parameters. Evaluating past and present credit information and other related factors is necessary to ensure quality loan decisions. Furthermore, the underwriter will identify and understand debt restructuring options and alternatives to lending, always considering the security and best interests of both the credit union and its members. Recognizing opportunities for cross-selling credit union products and services is also part of the role. The underwriter will provide guidance and assistance with loan building, credit interpretation, and credit union policies to other staff members as needed. Reviewing loan documentation, verifying income, collateral appraisals, and other necessary documents for loan underwriting is a critical function of this position. The underwriter will also identify and refer potential Loss Mitigation and Work-out loans to the Loss Mitigation Loan Officer. To maintain loan application quality, the underwriter will provide documented reviews of loan applications and is responsible for meeting department goals and standards as assigned by Lending Management. Compliance with all Federal regulations, including the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC), is mandatory.
