Consumer Loan Underwriter

The Opportunity:

As a Consumer Loan Underwriter of MassMutual Federal Credit Union (MMFCU), you will be a valued member of a supportive, diverse, and skilled team. All MMFCU team members are committed to delivering a consistent and memorable experience to our members and potential members. You will be responsible for representing the financial interests of both our members and the credit union. You will be responsible for reviewing, analyzing, approving, and underwriting consumer requests within credit union and industry guidelines. You are also responsible for timely turnaround on applications as well as for performance of loans written. You must be a decision-maker with a tolerance for risk, while understanding the lending guidelines and regulations.

The Team:

Reporting to the Chief Lending Officer (CLO), the loan team is comprised of loan officers, a loan servicer, collections, and a loan processor. The team is expected to work cross-functionally and collaboratively with other business units within the organization.

The Impact:

• Analyzes applicant financial status, credit, and collateral evaluation to determine the feasibility of granting loan and approves or denies. Forwards that information to the loan originator.
• Corresponds/converses with originators frequently to resolve questions regarding application information provided, and further delve into the member’s situation to assist in being able to grant credit to the member.
• Clear and document red flags. Ensure due diligence is performed: verifying account information, credit worthiness, and reviewing income/employment information, determining collateral value to ensure the borrower’s ability and willingness to repay. Asking for and properly documenting additional information as needed. Ensure that proper adverse actions are used when declining an applicant.
• Underwrite loan applications quickly and thoroughly. Communicate lending decisions to internal team members on direct loan applications. Communication methods may include making and answering phone calls, responding to emails, and web message comments with dealerships. Answer lending questions from internal staff.
• Work with loan processors to resolve loan stipulations and ensure conditions are met prior to final review and approval.
• Has a tolerance for risk while appreciating the policy guidelines and requirements set out in regulation.
• Demand of myself, and others, the highest levels of integrity, leadership, accountability, and teamwork.
• Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control.

Minimum Qualifications:

• 3 years of similar or related experience

Preferred Qualifications:

• Bachelor’s degree in math or finance
• Experience with Meridian Link
• Advanced and continuous learning to stay current on Consumer Lending trends, compliance, and regulations.
• Ability to review complex documents and loan information to find ways to make more quality loans.
• Must have an analytical mind with the ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
• Must be able to communicate well with team and credit union employees.
• Familiarity with credit union system terminology and acronyms.
• Ability to solve practical problems and deal with a variety of concrete variables in situations where guidelines are available but extensive evaluation is required. Ability to interpret a variety of instructions furnished in written form, including but not limited to loan policy, procedural manuals, and compliance with appropriate regulations.

What to Expect as Part of the Team

• Regular collaboration with the lending team
• Focused one-on-one time with your manager.
• Access to mentorship opportunities
• Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran, and disability-focused Business Resource Groups
• Access to learning content on Degreed and other informational platforms
• Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits.

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MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.

If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.