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Consumer loan underwriter skills for your resume and career

Updated January 8, 2025
4 min read
Consumer loan underwriter example skills
Below we've compiled a list of the most critical consumer loan underwriter skills. We ranked the top skills for consumer loan underwriters based on the percentage of resumes they appeared on. For example, 11.8% of consumer loan underwriter resumes contained financial statements as a skill. Continue reading to find out what skills a consumer loan underwriter needs to be successful in the workplace.

15 consumer loan underwriter skills for your resume and career

1. Financial Statements

A financial statement is a report of an individual or a company that includes all the information about the declared assets, the use of money, income, and also the contribution of shareholders over a certain period.

Here's how consumer loan underwriters use financial statements:
  • Evaluate applications by gathering credit bureau information and reviewing collateral valuations, tax returns, financial statements and other support documentation.
  • Performed due diligence on companies seeking credit by interviewing business owners, analyzing historical financial statements and creating financial projections.

2. Loan Applications

A loan application is a form of request presented by a person to a financial institution for the approval of a loan. This application form carries detailed information regarding the petitioner's identification information, financial competence, and sources of income that indicate whether he can return the loan back or not.

Here's how consumer loan underwriters use loan applications:
  • Increased productivity to over 50% year over year by efficiently reviewing the loan applications and identify alternative financial solutions.
  • Evaluated consumer loan applications and rendered appropriate credit decisions within credit policy and in compliance with all regulations.

3. Strong Analytical

Here's how consumer loan underwriters use strong analytical:
  • Apply strong analytical and problem solving skills and underwrite loans for optimal risk management.
  • Utilize strong analytical skills, critical thinking and problem solving.

4. Credit Reports

Credit reports are statements that carry information about your credit affairs and current credit situation like loan payment history and credit accounts status. A credit report acts as history because it contains the record from the day you opened the account till your account balance. Potential lenders and creditors make use of credit reports and decide whether to offer you credit or not and under what conditions.

Here's how consumer loan underwriters use credit reports:
  • Analyze credit reports, calculating income, and evaluating residential appraisal reports in context of compliance with underwriting requirements and guidelines.
  • Analyze credit reports and associated documentation, analyzes appraisals, qualifies and classifies loans according to company guidelines.

5. Credit Decisions

Here's how consumer loan underwriters use credit decisions:
  • Review and explain rationale behind credit decisions to recommend/approve requests within decision authority levels with adherence to quality and compliance policies.
  • Provided work direction/feedback and training to underwriting staff including mentoring lower level underwriters on credit decision, department procedures and policies.

6. Compliance Reviews

Here's how consumer loan underwriters use compliance reviews:
  • Performed compliance reviews and testing on business specific programs and processes to ensure regulatory guidelines were completed.
  • Performed compliance reviews processes to ensure regulatory guidelines were completed.

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7. Performance Feedback

Here's how consumer loan underwriters use performance feedback:
  • Coach and mentor lower-level underwriters on decision-making and departmental processes and policies, and provide performance feedback.
  • Managed performance feedback through monthly quality audits and certification audits to maintain quality.

8. Business Tax Returns

Here's how consumer loan underwriters use business tax returns:
  • Performed in-depth analysis of personal income tax and business tax returns on self-employed borrowers and multiple family financed investment properties.
  • Reviewed personal/business tax returns and all related schedules for self employment income.

9. Origination

Here's how consumer loan underwriters use origination:
  • Corresponded with loan origination staff to resolve questions regarding applications and explain decisions.
  • Experience with both automated decision engine and manual underwriting using online origination system.

10. Consumer Loans

Here's how consumer loan underwriters use consumer loans:
  • Underwrite Risk Based Consumer Loans in conjunction with Credit Union policy to determine applicant eligibility.
  • Managed existing portfolio of unsecured consumer loans by analyzing credit and liquidity monthly.

11. Income Analysis

Here's how consumer loan underwriters use income analysis:
  • Underwrite credit card applications including income analysis, credit analysis, asset analysis, and gray area underwriting.
  • Audited loan files to verify compliance of federal disclosure laws and income analysis accuracy.

12. Credit Risk

Credit risk entails the risk experienced by a lender from the possibility of losing money due to a borrower failing to repay or meet their obligations set out in a loan contract. Credit risk manifests in many forms including loans (the most popular), letters of credit, foreign exchange and lines of credit.

Here's how consumer loan underwriters use credit risk:
  • Communicated decisions that most effectively mitigate credit risks for Chase, including data integrity and validity of information submitted.
  • Provided detailed feedback and critique to credit risk officer for inclusion in report delivered to senior management.

13. Investor Guidelines

An investor guideline refers to general standards, strategies, and parameters relating to investments; the set guidelines get altered from time-to-time.

Here's how consumer loan underwriters use investor guidelines:
  • Analyzed delinquency, performed escrow analysis, analyzed modification scenarios and proposals and recommended appropriate loan workout based on investor guidelines.
  • Underwrite loans above my delegation of authority as needed while adhering to investor guidelines, income documentation requirements and credit policies.

14. FHA

The Federal Housing Administration (FHA) stands for a government agency in the United States that offers housing insurance to FHA-approved lenders who follow certain conditions.

Here's how consumer loan underwriters use fha:
  • Authorized to decision Level FHA transactions in accordance with underwriting policy and procedures per investor group servicing guidelines and requirements.
  • Demonstrated experience in underwriting conventional and FHA loans.

15. Partnerships

Partnerships are where two or more parties create a formal relationship in order to manage and operate a business effectively for the sake of profits though they will also share in the losses. They may both contribute labor, skill, property and capital toward the establishment and maintenance of the business.

Here's how consumer loan underwriters use partnerships:
  • Recognized potential business opportunities including loan up-sell solutions, product enhancements, and strategic business partnerships.
  • Advanced cash-flow analysis of Individuals, S-Corps, C-Corps, Partnerships, Rental Properties, and Trusts.
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List of consumer loan underwriter skills to add to your resume

Consumer loan underwriter skills

The most important skills for a consumer loan underwriter resume and required skills for a consumer loan underwriter to have include:

  • Financial Statements
  • Loan Applications
  • Strong Analytical
  • Credit Reports
  • Credit Decisions
  • Compliance Reviews
  • Performance Feedback
  • Business Tax Returns
  • Origination
  • Consumer Loans
  • Income Analysis
  • Credit Risk
  • Investor Guidelines
  • FHA
  • Partnerships
  • Credit Policy
  • Underwriting Guidelines
  • Credit Worthiness
  • Loan Decisions
  • Debt Ratios
  • Mortgage Loans
  • Confidential Material
  • FNMA
  • LIS
  • Underwriting Policies
  • Loan Products
  • Loan Processors
  • Bank Secrecy Act
  • Automated Underwriting
  • Cash Flow
  • Federal Regulations
  • USDA
  • Fannie MAE
  • Loan Modifications
  • Return Analysis
  • Cash Flow Analysis
  • Income Documentation
  • Credit Analysis
  • FHLMC
  • Credit Applications
  • Data Integrity
  • Underwriting Process
  • Credit History
  • Freddie Mac
  • Bank Statements
  • LTV
  • Auto Loans
  • SME
  • Strong Negotiation
  • LPS

Updated January 8, 2025

Zippia Research Team
Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

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