Underwriter, Indirect Auto Lending
About The Position
Lafayette Federal Credit Union is seeking an Underwriter, Indirect Auto Lending to play a key role in supporting the growth and quality of our indirect lending portfolio. This position is responsible for evaluating indirect auto loan applications received through our dealer network and making sound, timely credit decisions that align with established lending policies, regulatory requirements, and the Credit Union’s risk appetite. The Underwriter analyzes creditworthiness, income, collateral, and overall lending risk while balancing member experience, portfolio performance, and business growth objectives. This role partners closely with dealerships, lending staff, and management to facilitate efficient loan decisions, maintain strong dealer relationships, and support organizational goals. The ideal candidate brings strong analytical abilities, sound judgment, attention to detail, and the ability to communicate effectively with both internal and external stakeholders.
Requirements
- High school diploma or equivalent required.
- Minimum of three years of experience in consumer lending, indirect lending, underwriting, or a related financial services role required.
- Experience underwriting indirect auto loans strongly preferred.
- Credit union or banking experience preferred.
Nice To Haves
- Associate’s or Bachelor’s degree in Business, Finance, Accounting, Economics, or a related field preferred.
Responsibilities
- Review and evaluate indirect auto loan applications submitted through approved dealer partners.
- Analyze credit reports, income documentation, debt obligations, collateral values, and other relevant information to assess creditworthiness.
- Evaluate applicant capacity, character, collateral, and overall risk profile.
- Approve, decline, counteroffer, or condition loan applications within established lending authority limits.
- Structure loan terms, advances, rates, and conditions in accordance with Credit Union policies and risk management guidelines.
- Verify information provided on loan applications and identify discrepancies, inconsistencies, or potential fraud indicators.
- Ensure all underwriting decisions comply with applicable federal and state regulations, including fair lending requirements.
- Document underwriting decisions accurately and thoroughly within lending systems.
- Maintain established service level standards for loan decision turnaround times.
- Serve as a resource to dealership finance managers and dealer personnel regarding loan decisions, stipulations, and program guidelines.
- Communicate underwriting requirements and loan conditions in a professional and timely manner.
- Assist in resolving dealer inquiries and exceptions within assigned authority limits.
- Support the growth and success of the indirect lending program by delivering responsive and effective service to dealer partners.
- Escalate dealer concerns, trends, and opportunities to management as appropriate.
- Monitor loan quality trends and identify emerging credit risks.
- Adhere to underwriting standards designed to maintain portfolio performance and minimize losses.
- Identify and escalate suspicious activity, fraud concerns, and policy exceptions.
- Participate in quality assurance reviews, audits, and compliance examinations.
- Recommend process improvements to enhance underwriting effectiveness and operational efficiency.
- Collaborate with funding, servicing, collections, and other lending teams to support operational effectiveness.
- Participate in training, professional development, and continuing education opportunities.
- Assist with special projects, reporting, and departmental initiatives as assigned.
- Maintain current knowledge of consumer lending regulations, industry trends, and best practices.
Benefits
- Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan)
- Fully funded deductible (HMO Plan)
- 401k employer matching contribution
- Income protection with life insurance, short and long-term disability
- Paid time off, holiday leave & birthday leave
- Educational assistance
- Commuter benefits program
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
High school or GED
