Consumer Loan Underwriter

Location US-IL-Aurora
Lending - Consumer
Regular Full-Time


Summary:  Underwrites consumer loan requests  and contributes to the achievement of consumer lending growth, profitability, and asset quality objectives. Maintains strong knowledge of all procedures and applicable regulations to support compliance and quality control objectives.


Essential Functions:

Reasonable accommodations may be made to enable individuals with disabilities to perform the following essential functions.

  • Analyzes new loan requests in the context of FNMA guidelines, Appendix Q, and internal underwriting guidelines, as applicable. Maintains current knowledge of all applicable underwriting guidelines, internal procedures, and regulations.
  • Communicates with Personal Bankers and customers as necessary to achieve a mutually agreeable transaction, and underwrites the loan using sound underwriting judgment and independent decision-making. Structures and documents exceptions to published loan policy and presents to management for approval.
  • Converses with Personal Bankers and customers as necessary to resolve questions regarding application. Actively counter offers and cross-sells loan products wherever possible. Communicates denials or counter-offers to Personal Bankers and customers as necessary.
  • Responsible for compliance of assigned applications to applicable lending regulations and internal processing procedures. Maintains current knowledge of regulations and procedures.
  • Examines the work of Personal Bankers and Loan Processors throughout the application and closing process to ensure compliance with applicable regulations. Resolves discrepancies and escalates as needed to ensure compliance.
  • Provides informal coaching to Personal Bankers regarding product knowledge, the application process, and the closing process. Serves as a resource to Personal Bankers for complex loan questions.
  • Builds and maintains relationships with internal departments as well as external vendors; including title companies, other lenders, credit bureaus and appraisers.
  • Analyzes the competitive environment through market surveys of assigned competitors, conversations with loan applicants, and maintaining a general awareness of competitor’s advertisements. Recommends changes to management as needed.
  • Regularly consults with department head to evaluate results with regard to loan goals and analyze current marketing plan, product offerings, interest rates, and processing procedures to ensure continued achievement of goals.
  • Resolves escalated customer issues.
  • All other reasonable duties as assigned.


  • Excellent computer skills. Proficiency in Microsoft Office Suite;
  • Strong verbal and written communication skills; Strong attention to detail;
  • Excellent analytical and critical thinking skills. Ability to recognize potential red flags, inconsistencies within files documentation and other problem areas and initiate proper mitigation action;
  • Excellent time management skills and the ability to set and shift priorities as needed, to work under time and deadline pressure, and to effectively manage a large workload;
  • Extensive knowledge of applicable underwriting guidelines, including FNMA guidelines, Appendix Q, and internal underwriting guidelines as applicable. Extensive knowledge of loan requirements for all types of home equity, consumer installment, and consumer open-end credit;
  • Extensive current knowledge of applicable lending regulations, including real estate secured, consumer open end credit, and consumer closed end credit;
  • Subject to SAFE Act Registration Requirements.
  • Minimum 5 years’ experience with consumer loan underwriting and/or credit processing.


Preferred Education and Experience:

  • Bachelor’s degree in Business or equivalent work experience.


Requirements for performing Essential Functions:

On the job, the employee may physically be required to bend, sit, use finger movements, and/or handle objects (manual dexterity).  On the job the employee must mentally be able to read/comprehend, write, perform calculations, communicate orally, reason, analyze, and multi-task.       





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