Indirect Lending Underwriter

All One Credit Union; Leominster (MA); On-site; USD 65,000 - 90,000; Full time

Job summary

All One Credit Union is seeking an Indirect Lending Underwriter to underwrite indirect consumer loan applications and deliver exceptional service to automobile dealerships and AAA. The role supports the AVP, Indirect Lending in conformance with credit union strategies, policies, and procedures.

The candidate will review applications, document decisions, maintain dealer relationships, train staff, and generate monthly reports and rate analyses while ensuring compliance with BSA, OFAC, and other

Qualifications

• Three to five years' experience in loan originating and underwriting (Indirect Lending experience preferred).
• Strong organizational, analytical, financial analysis, and member service skills are required.
• Ability to work occasional Saturdays, including high-volume holiday weekends.

Responsibilities

• Underwrites indirect consumer loan applications from automobile dealerships and AAAs within policy and authority.
• Documents loan decisions and required provisions to complete the loan.
• Relays loan decisions to dealerships and AAAs promptly and professionally.
• Builds professional rapport with automobile dealers and AAAs via phone or in-person.
• Reviews and balances the department ledger and ensures accuracy.
• Assists in setting up new indirect auto dealerships and maintains dealer files.
• Trains funding and underwriting team when needed and implements procedure changes.
• Creates and maintains monthly internal Indirect Loan Reports and rate analyses.
• Tracks and reports loans paid off early; collects dealer payments within policy guidelines.
• Provides reports on indirect loan exceptions (LTV, DTI, etc.).
• Performs testing for updates to loan origination software.
• Maintains time management to ensure funding is completed timely.
• Keeps current on consumer lending trends related to indirect lending.
• Ensures compliance with BSA, OFAC and other regulations.

Skills

Organizational skills

Analytical skills

Financial analysis

Member service

Education

Associate's degree or equivalent in specialized lending coursework or training

Job description

Description

The Indirect Lending Underwriter underwrites indirect consumer loan applications and delivers exceptional service to automobile dealerships and AAA; performs related administrative and clerical duties under the direction of the AVP, Indirect Lending in conformance with established Credit Union strategies, policies, and procedures.

Primary Responsibilities

• 1. Reviews indirect loan applications received from automobile dealerships and AAA; evaluates the information and makes loan decisions within the parameters of loan authority matrix and policy.
• 2. Documents loan decisions and required provisions necessary to complete the loan.
• 3. Relays loan decisions to dealerships and AAA in an expeditious, tactful, and professional manner.
• 4. Actively builds professional rapport and relationships with automobile dealers and AAA via phone or in-person; responds to automobile dealer inquiries in a timely manner, provides loan decisions and funding status updates and may contact an automobile dealer on behalf of another team member on loan status, missing documentation, etc.
• 5. Reviews, balances, and makes any necessary corrections to the department general ledger.
• 6. Responsible for assisting in setting up all new indirect automobile dealerships and for the organization of the indirect automobile dealer files, keeping them accurate and current.
• 7. Responsible for training members of the funding and underwriting team when necessary and/or ensuring any changes in procedures are correctly implemented.
• 8. Works with AVP Indirect Lending to create and maintain the appropriate monthly internal Indirect Loan Reports for respective automobile dealerships as well as monthly rate analysis of the indirect market.
• 9. Responsible for the tracking and reporting of loans paid off early, within Loan Policy guidelines, and collecting automobile dealer payments.
• 10. Responsible for providing reports based on indirect loan exceptions including Loan to Value, Debt to Income ratios and other exceptions, as noted in the Lending Policy.
• 11. Performs testing for updates to the loan origination software.
• 12. Ensures time management in daily tasks to guarantee tasks and funding are completed in a timely manner.
• 13. Keeps current regarding consumer lending development and trends as they pertain to indirect lending.
• 14. Adheres to All One Credit Union policies and procedures. Responsible for compliance with the following regulations: BSA, OFAC, and other regulations as required.

Secondary Responsibility

• 15. Acts as back-up to the Indirect Lending Specialists to include all funding and scanning tasks of indirect loan processes, as needed.
• 16. Assists with gathering Better Business Bureau and Dun & Bradstreet reports to track dealer performances.
• 17. Assists with providing documentation for all internal and external audit examinations.
• 18. Responds to general loan inquiries from members and employees.

Requirements

Associate's degree or its equivalent in specialized lending coursework or training. Three to five years' experience in loan originating and underwriting (Indirect Lending experience is preferred). Strong organizational, analytical, financial analysis, and member service skills are required. Ability to work occasional Saturdays is required, including the ability to work on a high-volume holiday weekend as needed.

Employees are expected to embody All One Credit Union's core values in all interactions, fostering partnerships, trust, and community both internally and externally. This commitment supports a culture of inclusion and drives the achievement of All One's goals.

All One Credit Union is an Equal Opportunity Employer - Vets/Disabled.