Consumer Underwriter Job Description
Consumer underwriter
provides assistance and exceptional sales support to consumer lending specialist and branch personal answering questions relating to consumer loans and process.
Consumer Underwriter Duties & Responsibilities
To write an effective consumer underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included consumer underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
Review members' applications, and credit reports
Handling inquiries with a national, corporate-wide focus
Direct both internal and external calls to proper bank personnel and departments
Evaluate consumer loan applications and render appropriate decisions within credit policy and in compliance with all regulations
Process applications placing emphasis on response time, quantity of applications processed and quality of applications approved
Provide sales, service and communication related to loan transactions directly to the customer
Provide prompt, accurate responses to all internal and external customer inquiries
Assist other loan service representatives to ensure that applications are processed in accordance with desired service level standards
Enters and processes application information in the loan origination software program
Directing both internal and external calls to proper bank personnel and departments
Consumer Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Consumer Underwriter
List any licenses or certifications required by the position: FHA, DE, VA, LAPP
Education for Consumer Underwriter
Typically a job would require a certain level of education.
Employers hiring for the consumer underwriter job most commonly would prefer for their future employee to have a relevant degree such as Associate and Collage Degree in Business, Education, Finance, Associates, Communication, Accounting, Management, Computer, Business/Administration, Military
Skills for Consumer Underwriter
Desired skills for consumer underwriter include:
Federal and state laws and regulations relating to consumer lending
Credit reports
Lending and underwriting concepts
Consumer/mortgage credit
Practices and procedures
Word processing
Various related software applications
FMLMC guidelines and standards
FNMA
Agency and investor guidelines and regulations
Desired experience for consumer underwriter includes:
College degree in finance, accounting or business
Evaluating consumer loan applications and render appropriate decisions within credit policy and in compliance with all regulations
Processing applications placing emphasis on response time, quantity of applications processed and quality of applications approved
Providing sales, service and communication related to loan transactions directly to the customer
Providing prompt, accurate responses to all internal and external customer inquiries
Assisting other loan service representatives to ensure that applications are processed in accordance with desired service level standards
Consumer Underwriter Examples
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Consumer Underwriter Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of consumer underwriter. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for consumer underwriter
- Knowledge and ability to Manually Underwrite, understanding and applying Fannie Mae and Portfolio guidelines to manually underwritten loans
- Underwrites applications within consumer underwriting guidelines and requests and reviews any additional information needed to complete loan process
- Maintains an accurate daily production report and comprehends consumer internal audit reports
- Assures loan request is processed accurately and within time frame set forth my compliance regulations
- Ensures compliance as it pertains to the origination and processing of consumer loans with all applicable regulatory requirements including but not limited to
- Process instant credit loans, assist Dealer Support Group and Credit Investigations
- Respond timely to quality control and audit reviews when requested
- Recommending underwriting decision in a comprehensive credit analysis
- Consulting with internal and external legal counsel on loan documentation issues
- Communicating with internal partners and groups regarding loan requests
Qualifications for consumer underwriter
- Associates degree or equivalent with 2 years of experience
- Five years of prior underwriting experience Some knowledge of mortgage processes preferred
- Two to Three years prior financial services environment and knowledge of credit scoring and consumer lending regulations are all preferred
- Ability to work effectively in a team environment Minimum
- Effectively report operational performance results with respect to your department activities
- Ensuring compliance with established loan policies, credit limits, and regulatory requirements
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Consumer Underwriter Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of consumer underwriter. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for consumer underwriter
- Providing credit guidance to internal departments developing new loan products
- Responding to other ad hoc requests
- Approval/decline of loans based on loan policy
- Perform analysis of the credit transaction by reviewing the credit score(s), credit quality of the personal credit bureau reports, debt ratios, collateral, structure, adjusted net worths
- Making approval/denial decisions based on information gathered by contacting applicants, credit unions
- Flexible with work shifts of the department including Saturday, Car Sales and unexpected schedule changes
- Responsible for analyzing, decision making, approving and servicing all types of consumer loans or lines of credit based on sound reasoning
- Make recommendations for approval on loans and lines of credit
- Effectively communicate and work with affiliate banks, administrative, loan center and branch personnel on lending decisions and issues
- Seek new business through utilizing client relationships when applicable Perform other duties as assigned
Qualifications for consumer underwriter
- Limited travel will be required for this role
- Reviews loan applications submitted by borrowers through the retail banking centers and direct lending department, underwrite and approve or denies credit decisions based on lending criteria, federal regulatory guidelines and within delegated lending authority
- Places the proper conditions on a loan
- Spread and analyze applicant’s financial information, as deemed necessary by the deal structure and based upon established guidelines
- Communicates loan decisions to the banking centers through a variety means including written and verbal communication and via the Bank’s business banking origination system
- Monitor financial condition of existing borrowers underwritten or assigned and additional responsibilities as assigned by management
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Consumer Underwriter Job Description
Job Description Example
Our innovative and growing company is hiring for a consumer underwriter. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for consumer underwriter
- Efficiently manage pipeline of loans
- Maintain acceptable level of quality for all loan files
- Review declined loan files for exceptions
- Review subordination requests
- Stay up to date on work-flow and procedures
- Monitor compliance with state and federal regulatory requirements
- Stay abreast of bank and industry requirements
- Work closely with third parties (loan processors, branch representatives, loan officers, ) to ensure superior customer service
- Assist with HMDA review for reporting
- Review new applications for auto loans received through indirect/dealer sources
Qualifications for consumer underwriter
- Intermediate to advanced training in underwriting, advanced tax return analysis and advanced collateral assessment (appraisal analysis)
- Strong email etiquette
- Ability to build relationships with customers, sales and internal groups
- Ability to analyze basic levels of income, assets, credit and collateral
- Displays initiative and drive for results
- Basic technical/functional skills are required
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Consumer Underwriter Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of consumer underwriter. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for consumer underwriter
- Respond to phone or mail inquiries from indirect/dealer sources
- Monitor dealers' application credit quality, Look to Book ratios, volume and delinquency
- Processes application information in the loan origination software program
- Approve loans within assigned lending limits
- Assemble and verify the accuracy of documentation for loans
- Develop sound credit judgment of applicants
- Perform analysis of the credit transaction by receiving the credit score(s), credit quality of the personal credit bureau reports, debt ratios, collateral, structure, adjusted net worths
- Responsible for providing quality and consistent underwriting of mortgage loans, focusing on highly complex loans, to ensure compliance with appropriate company standards
- Assess the borrower(s) ability to repay, including validation of the borrower(s) employment, income, credit, assets and collateral clearing any applicable underwriting conditions
- Maintain up to date knowledge of all agency and investor underwriting guidelines and credit overlays
Qualifications for consumer underwriter
- Able to perform duties within prescribed productivity timelines while maintaining high quality
- High degree of bank and lending knowledge
- 4 year degree with 2 years underwriting experience
- Excellent PC skills, including Word and Excel internal bank software
- Basic-Intermediate underwriting
- Basic-Intermediate collateral assessment (appraisal analysis)
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Consumer Underwriter Job Description
Job Description Example
Our innovative and growing company is searching for experienced candidates for the position of consumer underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for consumer underwriter
- Provide high quality customer service, including underwriting to the companies service level expectations
- Monitors credit policies, rates, and application volume, interacts with internal and external Bank staff dealers and applicants
- Assist the Credit Union to achieve its mission of creating lifelong relationships and financial success
- Provide outstanding service to both internal and external members by identifying the financial needs of the member and effectively suggesting solutions that will improve the member’s financial life
- Be responsible for underwriting and evaluating secured, unsecured and Visa loans in the Lending Department, under general supervision of the AVP of Lending
- Promote and maintain a positive image of the Credit Union
- Accurately determines the financial condition of the applicant
- Evaluates that the applicant has demonstrated capacity to repay calculated debt-to-income ratios
- Reviews for stability of customer in his or her place of residence
- Reviews stability of employment
Qualifications for consumer underwriter
- Able to maintain high production and quality
- Solid technology abilities, including proficiency with Microsoft office and loan origination software applications (Crif Lending Solutions preferred)
- High School diploma or equivalent, equivalent experience in related field
- Perform analysis of whole loan pools, using independent judgment and making complex decisions based on experience
- Have regular contact with internal customers to identify, research, and resolve accounting issues and provide comprehensive solutions to complex problems or needs
- Requires two year college degree, Bachelor’s degree in related field preferred