Indirect Underwriter 3

Sunward; Albuquerque (NM); On-site; USD 43,000 - 53,000; Full time

Job summary

Sunward in Albuquerque, NM is seeking an experienced Loan Underwriter to review loan documents and determine creditworthiness for auto loan applications, balancing risk with customer needs.

You will assess income, debt, and collateral, ensure regulatory compliance, collaborate with processors and dealers, and document decisions for audits. The role offers ongoing training and opportunities to advance within the credit department.

Qualifications

• Minimum four years’ direct experience in consumer underwriting.
• High school diploma or GED required.

Responsibilities

• Review loan documents and underwrite auto loan applications.
• Assess borrower creditworthiness and financial risk.
• Ensure compliance with banking regulations and policies.
• Collaborate with loan processors and dealers.
• Document reasons for approvals or denials clearly.
• Participate in Credit Committee on high-complexity cases.

Skills

Interpersonal skills

Negotiation skills

Organizational skills

MS Office proficiency

Analytical decision-making

Education

High school diploma or GED

Job description

Job Summary

Reviews loan documents and appropriately decisions auto applications, by assessing financial risk, analyzing data, reviewing borrower’s creditworthiness, and ensuring compliance with banking regulations, while making critical loan underwriting decisions.

• Assesses and analyzes borrower's financial profiles, including credit history, income stability, debt-to-income ratios, loan-to-value ratio, assets, real estate appraisal, title reports, home insurance policies, and other relevant information.
• Reviews loan applications to determine the creditworthiness of applicants and the likelihood of loan repayment.
• Calculates key ratios and assesses credit history to determine borrower ability to repay.
• Ensures all indirect loan applications comply with credit union policies, underwriting standards, and regulatory requirements.
• Calculates and evaluates applicants' debt-servicing ability using various financial tools and credit scoring models.
• Obtains and verifies all necessary documentation, such as income verification, employment history, and financial statements.
• Makes loan approval or rejection decisions based on thorough risk assessment, underwriting criteria, and increased approval limits; refer to the General Loan Policy.
• Clearly documents and communicates the reasons for the approval or rejection of loan applications.
• Collaborates with loan processors, originators, and other stakeholders to gather additional information or clarification as needed.
• Recommends loan terms and conditions and suggests alternative loan structures to better fit the borrower's needs and risk profile.
• Answers underwriting inquiries and provides detailed and accurate responses in a timely manner.
• Serves as a member of the Credit Committee in decisioning loan applications involving high complexity and loan amounts, according to policy.
• Escalates loan files with recommendations that exceed individual lending authority and/or are of high complexity and associated risk to an Indirect Underwriter 4 or Supervisor.
• Builds strong relationships with dealerships to ensure the success of the indirect lending program, focusing on open communication, consistent underwriting, support and training, flexibility, and incentive programs.
• Acts as a subject matter expert for others in the department.
• Assists in training new staff members on products and procedures.
• Supports and responds to questions from Indirect Underwriter 1 and Indirect Underwriter 2.
• Participates in company lending seminars.
• Performs other duties as assigned.

Job Type

Full-time

Description

Reviews loan documents and appropriately decisions auto applications, by assessing financial risk, analyzing data, reviewing borrower’s creditworthiness, and ensuring compliance with banking regulations, while making critical loan underwriting decisions.

• Assesses and analyzes borrower's financial profiles, including credit history, income stability, debt-to-income ratios, loan-to-value ratio, assets, real estate appraisal, title reports, home insurance policies, and other relevant information.
• Reviews loan applications to determine the creditworthiness of applicants and the likelihood of loan repayment.
• Calculates key ratios and assesses credit history to determine borrower ability to repay.
• Ensures all indirect loan applications comply with credit union policies, underwriting standards, and regulatory requirements.
• Calculates and evaluates applicants' debt-servicing ability using various financial tools and credit scoring models.
• Obtains and verifies all necessary documentation, such as income verification, employment history, and financial statements.
• Makes loan approval or rejection decisions based on thorough risk assessment, underwriting criteria, and increased approval limits; refer to the General Loan Policy.
• Clearly documents and communicates the reasons for the approval or rejection of loan applications.
• Collaborates with loan processors, originators, and other stakeholders to gather additional information or clarification as needed.
• Recommends loan terms and conditions and suggests alternative loan structures to better fit the borrower's needs and risk profile.
• Answers underwriting inquiries and provides detailed and accurate responses in a timely manner.
• Serves as a member of the Credit Committee in decisioning loan applications involving high complexity and loan amounts, according to policy.
• Escalates loan files with recommendations that exceed individual lending authority and/or are of high complexity and associated risk to an Indirect Underwriter 4 or Supervisor.
• Builds strong relationships with dealerships to ensure the success of the indirect lending program, focusing on open communication, consistent underwriting, support and training, flexibility, and incentive programs.
• Acts as a subject matter expert for others in the department.
• Assists in training new staff members on products and procedures.
• Supports and responds to questions from Indirect Underwriter 1 and Indirect Underwriter 2.
• Participates in company lending seminars.
• Performs other duties as assigned.

Requirements

Required Skills/Abilities

• Excellent interpersonal and negotiation skills.
• Excellent organizational skills and attention to detail.
• Strong proficiency with Microsoft Office applications. Familiar and comfortable with information technology, particularly digital means of communication.
• Strong organizational skills in managing multiple initiatives.
• Strong analytical and decision-making skills

Knowledge

• Strong working knowledge of consumer credit and underwriting principles
• Strong working knowledge with federal and state regulations affecting consumer loans
• Strong working-level knowledge of overall consumer lending processes, including underwriting and loan processing.
• Strong working-level knowledge of valid documentation related to the processing of consumer applications (tax returns, financial statements, verification of income, etc.)

Education And Experience

• Minimum four years’ direct experience in consumer underwriting.
• Minimum high school diploma/GED or more than four year of related experience.

Physical Requirements

Prolonged periods of sitting at a desk and working on a computer.

Must be able to lift 5 pounds at times.

Salary Description

$30.90 to $38.63 Hourly (Depends on Experience)