The Consumer Loan Underwriter will be responsible for performing a thorough initial and/or second underwriting review to ensure compliance Tower Federal Credit Union policies, procedures and underwriting guidelines. The Consumer Loan Underwriter will have the authority to approve/deny/counter-offer consumer loans along with some exception loan authority, along with the ability to recommend policy exceptions to Management according to the Consumer Lending Loan Approval Authority Matrix. PRINCIPAL... more details
Note: All full-time positions include the option of $0 out-of-pocket premium cost for Employee Only PPO AND exceptionally low premiums for all other PPO coverage levels.
Tower is offering a $1000 Signing/Retaining bonus as of 1/20/2024.
HOURS FOR POSITION:Monday - Friday 8am-4:30pm Saturday 8am-4:30pm Rotation.
SUMMARY OF POSITION:
The Consumer Loan Underwriter will be responsible for performing a thorough initial and/or second underwriting review to ensure compliance Tower Federal Credit Union policies, procedures and underwriting guidelines. The Consumer Loan Underwriter will have the authority to approve/deny/counter-offer consumer loans along with some exception loan authority, along with the ability to recommend policy exceptions to Management according to the Consumer Lending Loan Approval Authority Matrix.
Performs a thorough underwriting review of all consumer loans to ensure compliance with Tower FCU policies and guidelines, all State and Federal regulatory.
Performs a thorough review of all consumer loans prior to clear to close and provides immediate feedback to the Consumer Loan Processor or Funder with any corrective measures to be taken prior to closing.
Underwrites and evaluates the risk on all consumer lending loan applications daily in accordance with established service and production levels in order to render a timely prudent underwriting decision.
Reviews and analyzes all information on the loan application matching it to the documentation in the loan file and data in the Loan Origination System (LOS).
Reviews and analyzes documentation obtained throughout the process in order to determine continuous loan eligibility and an update of the data in the LOS to ensure data integrity.
Obtains necessary lending authority approval when terms of loan are outside of underwriter’s lending authority level.
Participates in all required credit union compliance, product knowledge training and complies with government laws and regulations.
Follows established security measures to guaranty the confidentiality of Tower’s membership.
Complies with established service level agreements for member loan inquiries, explains loan underwriting decisions, and suggests alternatives products or services related to submitted loan requests for consideration.
Verifies and analyzes documentation received to include but not limited to credit report, paystubs, W-2s, personal tax returns, business tax returns, bank statements, retirement statements, property appraisals, and any other documents necessary to determine adherence to Tower FCU policies and
Effectively communicates and works in a team environment with other Consumer Loan Underwriters, Consumer Loan Processors, Consumer Loan Funders or other Tower team members.
Participates in the ‘buddy system’ within the Consumer Loan Underwriting teams.
Supports all consumer loan origination channels within the Consumer Lending Operations department.
Meets all training and proficiency requirements as outlined in the Consumer Lending Loan Approval Authority Matrix for Trainee up to Level II authority.
Demonstrates the ability to follow Tower procedures, polices, and guidelines when exercising up to Level II loan approval and exception authority according to the Consumer Lending Loan Approval Authority Matrix.
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