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Consumer Loan Underwriter
at LoanMe, Inc.
- CONSUMER DIVISION [CONSU]
Candidates in this job are responsible for assessing the overall credit risk of loan transactions by thorough analysis of all loan components for consumer loan applications. Components include, but not limited to the review of the credit report, all sources of income, analyzing the bank statements, ach bank information, ID documents, type of loan programs, FICO score, Internal score, IDA score, residual income, the underwriting guidelines and addendums.
- Review all loan components in the consumer loan application to include but not limited to completeness, accuracy and integrity while ensuring that documents are consistent and uphold to company and industry guidelines.
- Examine transaction to ensure compliance with all LoanMe consumer loan policies.
- Implement and enforce fraud detection techniques. Request supplemental information/documentation as necessity dictates. Also, forwarding files to the fraud for review when necessary.
- Underwrite loan application within limits of credit authority based on capability to underwrite transactions involving varying levels of complexity and risk. Acquire a 2nd level underwriter when deemed necessary.
- Recognize risk factors that may compromise the overall quality of the application request.
- Execute prudent loan decisions and review loan conditions in a timely manner.
- Every file must be reviewed to completion on the initial review, (application, credit, faxes, call logs & all calculations) no matter the decision, unless an incomplete application was given.
- Recognize types of documentation required for varying or unique circumstances. Self-Employed borrowers, derogatory credit and non-traditional income sources, etc.
- Effectively communicate an engage proactively with loan agents, fraud agents, and funders in regards to loan decisions, assignment of loan conditions and possible loan scenarios.
KNOWLEDGE, SKILLS, AND ABILITIES
- Exceptional customer service and clear communicative skills
- Strong computer skills; Proficient with Microsoft Word, Excel, Power Point, Outlook.
- Attention to detail.
- SBL experience
- Bachelor’s degree preferred
- 4+ years of experience in consumer loan industry