City of Boston Credit Union
Consumer / Home Equity Underwriter
City of Boston Credit Union, Boston, Massachusetts, us, 02298
Overview
The Consumer / Home Equity Underwriter is responsible for evaluating and underwriting consumer loan applications, and all secured & unsecured loans and lines. This role ensures that all lending decisions comply with internal policies, regulatory guidelines, and risk management standards while supporting the credit union’s mission to serve its members.
Responsibilities
Evaluate and decision residential loan applications, including Home Equity loans / Lines, as well as consumer loan applications.
Loan Application Review: Analyze and evaluate applications by determining creditworthiness and adherence to lending policies, analyzing credit reports, income documentation, and other relevant financial information.
Risk Assessment: Assess the level of risk associated with each loan application. Make recommendations for loan approvals or denials outside of lending authority, based on established criteria.
Compliance: Ensure compliance with federal, state, and local lending laws and regulations. Stay updated on changes in regulatory requirements and adjust underwriting practices accordingly.
Communication: Collaborate with branch staff, members, and other stakeholders to gather additional information when necessary. Communicate underwriting decisions to relevant parties in a clear and timely manner.
Documentation: Maintain accurate and thorough documentation of the underwriting process. Ensure that all required documentation is collected and retained in accordance with regulatory guidelines.
Customer Service: Provide support to all staff by offering insights into underwriting decisions. Address inquiries from members regarding the underwriting process professionally and courteously.
Prepare weekly / monthly reports for management, Credit Committee, and the Board, as needed.
Additional duties as assigned by management.
Knowledge / Skills / Experience
3+ years’ experience underwriting consumer loans and Equity loans / lines in a credit union or banking environment.
Strong understanding of residential and consumer lending practices, credit analysis, and risk assessment.
Familiarity with loan origination systems and financial software.
Thorough knowledge of TRID, HMDA, Reg B, and Fair Lending regulations.
Excellent analytical and problem-solving skills.
Attention to detail and a commitment to accuracy.
Effective communication and interpersonal skills.
NMLS registration is preferred or ability to obtain.
Education / Certifications / Licenses
Bachelor’s degree in finance, business, or a related field or equivalent working experience
#J-18808-Ljbffr
Responsibilities
Evaluate and decision residential loan applications, including Home Equity loans / Lines, as well as consumer loan applications.
Loan Application Review: Analyze and evaluate applications by determining creditworthiness and adherence to lending policies, analyzing credit reports, income documentation, and other relevant financial information.
Risk Assessment: Assess the level of risk associated with each loan application. Make recommendations for loan approvals or denials outside of lending authority, based on established criteria.
Compliance: Ensure compliance with federal, state, and local lending laws and regulations. Stay updated on changes in regulatory requirements and adjust underwriting practices accordingly.
Communication: Collaborate with branch staff, members, and other stakeholders to gather additional information when necessary. Communicate underwriting decisions to relevant parties in a clear and timely manner.
Documentation: Maintain accurate and thorough documentation of the underwriting process. Ensure that all required documentation is collected and retained in accordance with regulatory guidelines.
Customer Service: Provide support to all staff by offering insights into underwriting decisions. Address inquiries from members regarding the underwriting process professionally and courteously.
Prepare weekly / monthly reports for management, Credit Committee, and the Board, as needed.
Additional duties as assigned by management.
Knowledge / Skills / Experience
3+ years’ experience underwriting consumer loans and Equity loans / lines in a credit union or banking environment.
Strong understanding of residential and consumer lending practices, credit analysis, and risk assessment.
Familiarity with loan origination systems and financial software.
Thorough knowledge of TRID, HMDA, Reg B, and Fair Lending regulations.
Excellent analytical and problem-solving skills.
Attention to detail and a commitment to accuracy.
Effective communication and interpersonal skills.
NMLS registration is preferred or ability to obtain.
Education / Certifications / Licenses
Bachelor’s degree in finance, business, or a related field or equivalent working experience
#J-18808-Ljbffr