Consumer Loan Underwriter

Lafayette Federal Credit Union
Rockville, MD
Oct 15, 2021
Oct 17, 2021
Accountant, IT
Full Time
Description *ONLY HIRING IN DC, MARYLAND, AND VIRGINIA* Lafayette Federal Credit Union has been dedicated to providing the highest level of service to our members since 1935. We understand that in order to give the best to our members we must give the best to our team. As an institution, we are committed to the success of each employee and the betterment of our community. We are proud of our competitive pay and attractive benefits package that provides those with Lafayette Federal careers the resources needed to manage their health, promote their well-being, and help plan an exciting future. About this position: We are currently seeking a Consumer Loan Underwriter (CLU) to join our winning team. Summarily, this position will, under general supervision but following established policies and procedures, be responsible for providing administrative support to the underwriting, processing, closing, post-closing and servicing activities of the Consumer Lending Department. Specifically, the CLU will: Underwrites and decision consumer loans up to the amount assigned per credit union policies. This includes reviewing and analyzing tax returns, paystubs, interest rate calculations, borrower's credit character, ability and willingness to repay use of existing credit account as well as making recommendations to the VP of Consumer Lending as they pertain to rate structure, loan terms, policies and procedures as needed. Process loans for underwriting consumer files. Verify that all required documentation has been received; follow-up and request missing information; analyze the information gathered based on credit union policy; reconcile the income, appraisal value, credit history and determine the terms and conditions of the loan. Perform processing functions to include calculating debt to income ratios, loan to value ratios, document preparation, loan disbursement, and reconciliation. Perform servicing duties as needed such as scanning, title, and UCC tracking and recording, insurance verifications, and payoff requests. Assist the VP of Consumer Lending in analyzing the Consumer Loan Department's direct and indirect lending activities by compiling statistical information from various consumer lending systems. Assists in creating and/or updating periodic departmental reports. Demonstrate thorough knowledge of consumer loan products, policies, and procedures. Be responsible for understanding and complying on an accurate and timely basis with all Bank Secrecy Act/Anti-Money Laundering/OFAC requirements that pertain to your position at LFCU and as directed by management and/or the SVP of Risk Management. Performs other support and/or administrative duties as assigned by the VP of Consumer Lending. Requirements Qualified candidates will have the following: A positive credit standing Education: A high school diploma or GED Experience: Three to five years of similar or related experience Completion of a specialized course of study at a business or trade school or Completion of a specialized and extensive in-house training or apprenticeship program. Interpersonal Skills: Excellent customer service skills. Excellent communication skills, both verbal and written. A significant level of trust and diplomacy is required, in addition to normal courtesy and tact. Work involves personal contact with others and is usually of a personal or sensitive nature. Work may involve motivating, influencing, or training others. Outside contacts become important and fostering sound relationships with other entities becomes necessary and often requires the ability to influence and/or sell ideas or services to others. Other Skills: Resourceful and have the ability to ensure all loans meet established guidelines. Ability to make independent decisions with oversight and assistance as needed by VP of Consumer Lending/SVP of Lending. Ability to effectively present information and adequately respond to questions from all levels of management. Extremely detailed oriented to ensure accuracy of data. Excellent organizational and time-management skills. Must be adept in operating standard office equipment, specifically the computer, and must have a working knowledge of Microsoft Office products. Physical Requirements and Work Environment" This position requires manual dexterity, the ability to open cabinets and lift files. This position requires bending, stooping, or standing as necessary. This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets, and fax machines. Office environment with job duties conducted via telephone, face-to-face meetings, and on the computer. *Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer* EOE/AA/VETERAN/DISABLED Employment Type: Full Time Years Experience: 3 - 5 years Bonus/Commission: No

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