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  4. Consumer Credit Underwriter

Consumer Credit Underwriter

Lawrence Bank
Posted a month ago, valid for 9 days
Location

Nashville, TN, US

Salary

Competitive

Contract type

Full Time

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Sonic Summary

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  • The Consumer Credit Underwriter evaluates the creditworthiness of individuals applying for consumer loans, ensuring compliance with lending policies and regulations.
  • This role requires 1 to 3+ years of experience in consumer loan underwriting, specifically with installment loans, HELOANS, and HELOCs.
  • Key responsibilities include reviewing loan applications, making credit decisions, and ensuring adherence to compliance guidelines.
  • The position also involves collaborating with loan officers and providing customer service by addressing inquiries and resolving issues.
  • While the specific salary is not mentioned, the role emphasizes the importance of analytical skills and knowledge of consumer lending practices.

Position Summary

The Consumer Credit Underwriter is responsible for evaluating the creditworthiness of individuals applying for consumer loans, ensuring decisions align with lending policies, regulations, and risk management standards. The Consumer Credit Underwriter plays a critical role in protecting the lender’s interest by ensuring only qualified borrowers receive credit, while also supporting loan growth and customer satisfaction. The role blends analytical, compliance, and customer service responsibilities in a fast-paced lending environment.


Key Duties and Responsibilities

  • Review and analyze loan applications: Examine credit reports, financial statements, tax returns, and other documentation to assess repayment ability and risk 
  • Evaluate creditworthiness: Knowledge and ability to Manually Underwrite, understanding and apply policy guidelines to manually underwritten loans. Determine if applicants meet lending criteria, considering income, savings, payment history, and debt levels.
  • Make credit decisions: Approve, counter-approve, or deny loan requests within established credit policy and compliance guidelines 
  • Compliance and policy adherence: Ensure all underwriting decisions follow federal, state, and industry regulations
  • Customer service: Respond to inquiries from internal teams and customers, explain decisions, and resolve issues in a timely manner. 
  • Collaboration: Work with loan officers, originators, and senior underwriters to gather documentation, and discuss issues. 
  • Specialized loan types: Underwrite installment loans, home equity loans, HELOCs, and other consumer products 

 

Qualifications

Education

  • Associate or college degree in business, finance, accounting, management, or related field, preferred 


Experience

  • 1–3+ years in consumer loan underwriting, with experience evaluating installment, HELOANS, and HELOCs 


Knowledge and Skills:

  • Able to maintain high production and quality
  • Strong analytical and financial analysis skills
  • Knowledge of consumer lending products and practices
  • Familiarity with credit reports and lending regulations


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