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Underwriter
TCF Bank
Plymouth, MN, United States
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Provide an independent assessment of proposed loan applications for consumer lending real estate and non-real estate loans. Review loan applications received from Loan Officers. Identify areas in which loan applications do not conform to TCF policies and prepare summary and approval requests for Retail Lending Senior Management.
Major Areas of Accountability
A. Prepare loan approval documentation that is presented to Senior Management. Review loans for eligibility within the bank’s lending authority for all lending products including, equity lines and other consumer loans originated through the branches and/or online. Determine all non-conformity with TCF policies and procedures.
B. Verify accuracy of information on all submitted loan documents. Ensure application information matches what is displayed in the Loan Origination System; verify property is properly tilted, calculate/verify income information, verify tax and employment information; review all other related documents.
C. Assess applicants’ risk factors and decide if applicant is a good risk for loan approval. Analyze credit policy exceptions and make appropriate approval/counter offer along proper override reasons while maintaining acceptable levels of delinquency. Recommend/submit approvals based on risk factors; put loans into closing, with approval authority up to $250,000. Review and approve loan requests prepared by subordinate personnel within the UA Department.
D. Effectively communicate with originators, branches, processing, closing and secondary departments regarding all conditions needed. Actively answer questions and give direction regarding TCF loan policy for lenders, Branch Lending Managers, and Region Managers.
E. Review UA related sections of the TCF Retail Lending Policy Manual for necessary corrections/ updates and to ensure that existing policies adhere to prudent underwriting standards, industry best practices, credit risk guidance, and Senior Management directives.
Minimum Qualifications
Education
Required:
• Four-year college degree or equivalent work experience and coursework in finance related fields.
Preferred:
• Four-year college degree in accounting or finance.
Work Experience/Skills
Required:
• 2 years combined work experience in residential/mortgage lending, underwriting, credit analysis, finance or other related field.
• Excellent communication and negotiation skills.
• Ability to work with and understand a variety of software applications.
• Ability to work closely with a wide variety of personality types.
• Ability to work well independently.
• Ability to be detail oriented while maintaining a larger picture perspective.
• Strong credit, risk analysis, and analytical skills; ability to analyze and interpret credit quality information.
• Ability to analyze all income sources, including personal and business tax returns.
Preferred:
• Good understanding of how to calculate debt-to-income ratios, loan-to-value ratios, understand title examinations; understand how to view an appraisal.