Indirect Underwriter 3

Job Summary:

Reviews loan documents and appropriately decisions auto applications, by assessing financial risk, analyzing data, reviewing borrower’s creditworthiness, and ensuring compliance with banking regulations, while making critical loan underwriting decisions.

Essential Job Duties:

• Assesses and analyzes borrower's financial profiles, including credit history, income stability, debt-to-income ratios, loan-to-value ratio, assets, real estate appraisal, title reports, home insurance policies, and other relevant information.
• Reviews loan applications to determine the creditworthiness of applicants and the likelihood of loan repayment.
• Calculates key ratios and assesses credit history to determine borrower ability to repay.
• Ensures all indirect loan applications comply with credit union policies, underwriting standards, and regulatory requirements.
• Calculates and evaluates applicants' debt-servicing ability using various financial tools and credit scoring models.
• Obtains and verifies all necessary documentation, such as income verification, employment history, and financial statements.
• Makes loan approval or rejection decisions based on thorough risk assessment, underwriting criteria, and increased approval limits; refer to the General Loan Policy.
• Clearly documents and communicates the reasons for the approval or rejection of loan applications.
• Collaborates with loan processors, originators, and other stakeholders to gather additional information or clarification as needed.
• Recommends loan terms and conditions and suggests alternative loan structures to better fit the borrower's needs and risk profile.
• Answers underwriting inquiries and provides detailed and accurate responses in a timely manner.
• Serves as a member of the Credit Committee in decisioning loan applications involving high complexity and loan amounts, according to policy.
• Escalates loan files with recommendations that exceed individual lending authority and/or are of high complexity and associated risk to an Indirect Underwriter 4 or Supervisor.
• Builds strong relationships with dealerships to ensure the success of the indirect lending program, focusing on open communication, consistent underwriting, support and training, flexibility, and incentive programs.
• Acts as a subject matter expert for others in the department.
• Assists in training new staff members on products and procedures.
• Supports and responds to questions from Indirect Underwriter 1 and Indirect Underwriter 2.
• Participates in company lending seminars.
• Performs other duties as assigned.