Direct & Indirect Auto Lending
The Subprime Auto Lending Underwriter is responsible for underwriting, credit risk management, and portfolio growth. Underwriter will evaluate, structure, and approve consumer auto loan applications for borrowers with sub-prime credit profiles across both the direct and indirect auto lending channels. This role balances member service, responsible lending practices, and portfolio growth by identifying lending opportunities that fall outside traditional credit standards while maintaining sound risk management.
Key Responsibilities • Evaluate and underwrite loan applications submitted through dealership/Indirect lending partner and our direct channels. • Review credit reports, income documentation, debt-to-income ratios, payment history, and collateral value. • Structure loan terms including loan amount, term, rate, appropriate collateral and stipulations based on risk profile. • Apply sound credit judgment to balance member service with responsible risk management. • Clearly document underwriting decisions and rationale within the loan system. • Perform Applicant Interviews when necessary, based on risk profile • Assist lending staff in structuring loan options for members who may not qualify under traditional lending guidelines. • Provide guidance to lending staff when evaluating complex or sub-prime credit situations. • Support lending staff in identifying solutions that help members improve their financial position. • Apply appropriate stipulations to ensure loan quality and proper documentation. • Maintain strong working relationships with indirect lending partners to support loan growth. • Ensure underwriting decisions comply with internal policies, regulatory requirements, and fair lending guidelines. • Maintain consistency in underwriting decisions across both lending channels. • Monitor loan performance trends within the sub-prime portfolio. • Escalate high-risk or exception requests when appropriate.
Education & Experience • 5 + years of consumer lending, underwriting, or credit analysis experience preferred. o 2-4 specifically in subprime lending • Experience with indirect auto lending and dealer relationships is a requirement.
Skills & Competencies • Strong credit analysis and underwriting skills. • Knowledge of consumer lending regulations and compliance standards. • Ability to interpret credit reports, income documentation, and collateral valuations. • Strong decision-making and problem-solving abilities. • Excellent communication and relationship management skills. • Ability to work in a fast-paced lending environment while managing multiple loan decisions. • Strong fraud detection and prevention skills, including the ability to identify red flags, inconsistencies, and potential misrepresentation in credit applications.
Key Performance Indicators • Underwriting turnaround time • Portfolio performance, charge-offs and delinquency trends • Responsible loan growth in the sub-prime segment • Maintain a look to book ratio of 10% or higher • Average yield, structure quality, and loan profitability metrics.
Benefits Include:
Downeast provides a strong base salary paired with a comprehensive incentive plan that recognizes and rewards performance.
Please send your cover letter and resume to: Human Resources at humanresources@downeastcu.com. You may also stop by any branch of Downeast Credit Union for an application, or download an application here.
Equal Opportunity Employer
For our members’ convenience, links are available in this website to allow quick access to other sites that may be of interest. Clicking on a third party link will take you out of Downeast Credit Union’s website to an alternative website not operated by DECU. The Credit Union is not responsible for the content of the third party website and does not represent either the third party website or the member if you enter into a transaction. Privacy and security policies of the website to which you are linking may differ from those practiced by DECU.
