Posted: 3/28/25
Position: Consumer Loan Underwriter I
Department: Central Underwriting
Reports to: Director of Lending
FLSA: Non -Exempt
SUMMARY
Responsible for evaluating and analyzing all loan application information submitted in the process of loan approval or disapproval and makes decisions on consumer loan requests within designated approval authority, based on Meritus’s lending policy and guidelines.
ESSENTIAL FUNCTIONS
- Maximizes revenue by practicing sound risk management principles; demonstrates strong analytical skills and sound underwriting judgment.
- Ensures compliance with Meritus Credit Union underwriting policies.
- Builds and strengthens rapport with Branch personnel by effectively and promptly communicating credit decisions and providing prompt dealer service.
- Serves as a liaison between Central Underwriting and the Retail Branch staff.
- Actively participates in risk/opportunity meetings; evaluates risk issues; stays abreast of constant changes in policies and procedures.
- Monitors the queue for loan applications.
- Reviews and interprets credit reports and loan applications to make sound loan decisions within acceptable time parameters.
- Evaluates past and present credit information and other related factors in order to make a quality loan decision.
- Identifies and understands debt restructuring and alternatives to lending with regard to the security and best interests of the credit union as well as the member.
- Recognizes opportunities and suggests the cross selling of credit union products and services to members.
- Offers guidance and assistance with loan building, credit interpretation, credit union policies and procedures to other staff members as needed.
- Reviews loan documentation, verification of income, collateral appraisals and other documents as needed for loan underwriting, verifies approval loan notes prior to signing.
- For the purpose of maintaining loan application quality, provides documented reviews of loan applications.
- Responsible for meeting department goals and standards as assigned by Lending Management.
- Responsible for compliance with all Federal regulations including Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC)
KNOWLEDGE AND SKILLS
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education:
- (1) A two year college degree or equivalent or (2) Completion of a specialized course of study at a business or trade school or (3) Completion of a specialized and extensive in-house training or apprenticeship program.
Experience and Other Requirements:
- One years to three years of similar or related experience.
- Minimum of one year lending experience.
- Must develop and maintain full knowledge of consumer lending regulations, Meritus Credit Union policies, and guidelines.
- Must demonstrate the ability to understand and implement changing loan policies and procedures.
- Accuracy and attention to detail required.
- Excellent interpersonal skills with other employees required.
- Must be able to work in a fast-paced environment with minimal supervision.
- Must be a self-starter and highly motivated.
- Must maintain confidentiality and display dependability.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit, stand and walk; use hands to finger, handle, feel or grasp; reach with hands and arms; and talk or hear. The employee is occasionally required to kneel, crouch, or stoop. The employee is occasionally required to lift and/or move up to 10 pounds.