Consumer Loan Underwriter

Evaluates consumer loan applications and makes credit decisions within lending authority and within established underwriting guidelines. Communicates decisions with loan officers, loan assistants and branch managers in a prompt and courteous manner. Assists in providing quality loans for the financial institution for consumer loan products not related to mortgage lending.

Essential Duties and Responsibilities

• Receives consumer loan applications originated by the financial institution.
• Verifies the accuracy of loan system data entry performed by loan officers.
• Corrects and updates information as required throughout the underwriting process.
• Maintains electronic eFolders on a shared drive.
• Performs a budget analysis and reviews applicant's income documents, credit reports, collateral valuations, title policies, insurance policies, property deeds and property tax records.
• May perform basic cash flow analysis.
• Performs collateral valuation searches on the Internet or using third party software.
• Maintains communicates with loan officers regarding underwriting exceptions requiring additional documentation to resolve.
• Orders property appraisals, flood determinations, and title work for home equity line of credit requests.
• Makes underwriting decisions for each loan to include approve, decline, withdrawn or counter-offer within credit policy guidelines.
• Communicates alternative financing options for consumer credit requests.
• Decisions each loan within the regulatory timing guidelines and obtains loan approval from consumer underwriting manager within established lending limits.
• Routes approved, denied and withdrawn loans to document preparation.
• May assist in conducting loan training for consumer originators.
• Assists in reviewing and testing software releases.
• Keeps informed of current underwriting practices and may assist in updating the financial institution's underwriting policies.
• Completes required compliance and security courses as assigned within the established deadlines.
• Complies with all banking industry regulations to include Fair Lending, Fair Credit, Reg. Z and Reg B.

Qualifications

Education/Skills:

Equivalent experience to a four year college degree, plus 2 years related experience and/or training, or equivalent combination of education and experience. Skills needed to perform successfully in this position will include:

• Possess a broad knowledge of retail banking regulations, consumer lending, finance and accounting.
• Ability to effectively communicate information and respond to questions from employees of the organization as well as internal or external auditors in a professional manner and from a neutral point of view.
• Ability to calculate figures and amounts such as discounts, interest and percentages.
• Ability to multi-task and prioritize tasks.
• Ability to follow a specific workflow and adhere to timelines that may result in the need to delay a break, lunch or stop time.
• Proficient in the use of MS Word and Excel.
• Experience in CSM for Decision Pro or a like software is preferred.

Work Experience:

Prior experience in the position of a loan underwriter, loan assistant, loan processor or loan officer where critical and independent thinking is required.

Physical Demands:

• be able to sit for extended periods of time
• be able to focus on a computer monitor/screen for extended periods of time
• be able to perform repetitive tasks requiring manual dexterity