Indirect Buyer \ Underwriter(Gazelle, El Paso, TX)


One Source Federal Credit Union

POSITION TITLE: Indirect Lending Buyer/Underwriter 
DEPARTMENT: Loan Department CLASSIFICATION: Non-exempt  



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This position entails reviewing credit applications from various automobile dealerships in the community and giving timely callbacks as to whether the request was approved, denied or conditioned.  The individual is responsible for ensuring that all proper documentation is obtained and that loans meet Credit Union policies.  Maintains dealer relationships to ensure the success of the program.  Reviews and documents performance of each dealership to protect quality of the loan portfolio.  Demonstrates working knowledge of applicable regulations including Reg Z, Reg D, Reg E, OPAC, FACTA and BSA.


1. Assumes responsibility for working with dealers on indirect lending. 

 a. Provides outstanding member service in all internal and external member contacts.

 b. Examines dealer documentation for completeness and accuracy.

 c. Determine s vehicle values.

 d. Negotiates terms and conditions with dealers.

 e. Reviews buy rates with other financial institutions and makes recommendations to management.

 f. Tracks all approved, conditioned and denied loans.

 g. Calculates dealer reseves, makes entries to GL’s and determines any charge back items.

 h. Establishes and maintains procedures for custody and control of assets, records, loan collateral to ensure safe keeping.

 i. Sends welcome letter to new members.

2. Assumes responsibility for effectively receiving, reviewing, and processing loan applications. 

 a. Interviews, takes applications, gathers information, and processes preliminary documentation on loan requests.

 b. Evaluates and verifies loan applications and credit criteria.  Computes debt ratios.  Verifies employment and income.  Determines value of collateral.  Approves loans within limits of authority and notifies applicants of loan decisions.  Requests additional information if required.

 c. Coordinates and processes closings.  Ensures that each loan is promptly and properly prepared, documented, processed, approved, and disbursed.    d. Calculates terms, finance charges, and insurance on loans for proper disclosure on promissory notes.

 e. Assists in servicing loans by processing such items as payoff, refinances, problem loan workout arrangements, address changes, payment extensions, collateral releases, and payment due date changes.

 f. Assumes responsibility for filing vehicle titles and prompt follow-up on titles still pending.  Verifies car insurance coverage.  Makes car appraisals.

 g. Sells credit life, disability, and mortgage insurance.

 h. Performs duties of area personnel as required.

 i. Ensures that lending operations are conducted in accordance with established Credit Union policies and are legally compliant. 

2. Assumes responsibility for establishing and maintaining effective and professional business relationships with members.

 a. Resolves members' requests and questions promptly and courteously. 

 b. Keeps members properly informed of Credit Union loan policies and services.

 c. Ensures that the Credit Union's quality and professional reputation is projected and maintained.

3. Assumes responsibility for establishing and maintaining effective coordination and communication with area personnel and with management.

 a. Assists area personnel as needed. 

 b. Assists in training and cross-training loan support personnel.

 c. Completes reports and records promptly and accurately.  Types loans and all supporting documents as required.

 d. Attends meetings as required.

 e. Keeps Management informed of area activities and of any significant problems.

4. Assumes responsibility for related duties as required or assigned.

 a. Actively and professionally cross-sells Credit Union services. 

 b. Stays informed regarding local and national economic conditions and legal and regulatory changes.

 c. Ensures proper maintenance, cleanliness, and security of work area, desks, equipment, etc.


1. Lending functions are effectively performed in accordance with established Credit Union policies and with legal and regulatory requirements.

2. Good business relations exist with members and dealers.  Programs and services are properly and thoroughly explained and  needs accurately assessed. 

3. Required reports are accurate and timely.

4. Good working relationships exist with area personnel and with management.  Area personnel are assisted as needed.

5. Credit applications and related financial data are closely and effectively analyzed and evaluated.

6. Personal delinquency write-off numbers are in line with Credit Union objectives.


EDUCATION/CERTIFICATION:  High school graduate with required loan training and certification.   REQUIRED KNOWLEDGE:  Knowledge of Credit Union loan services, policies, and procedures. Understanding of related legal and regulatory standards, and required loan documentation. Knowledge of consumer and residential lending practices.   EXPERIENCE REQUIRED:  Previous lending experience or experience with full-service financial institution helpful. Minimum two years customer service experience.

SKILLS/ABILITIES:   Excellent interviewing, communication, and public relations skills. Professional appearance and attitude. Strong analytical and financial skills. Ability to operate related computer applications, and other business equipment including calculators, typewriter, printer, telephone, and notary stamp.   


TALKING:    Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.

AVERAGE HEARING:   Able to hear average or normal conversations and receive ordinary information.

REPETITIVE MOTION:   Movements frequently and regularly required using the wrists, hands, and/or fingers.

AVERAGE VISUAL ABILITIES:  Average, ordinary visual acuity necessary to prepare or inspect documents or products, or operate machinery.

PHYSICAL STRENGTH:   Sedentary work; sitting most of the time.  Exerts up to 10 lbs. of force occasionally.  (Almost all office jobs.)


NONE:  No hazardous or significantly unpleasant conditions (such as in a typical office).


REASONING ABILITY: Ability to deal with a variety of variables under only limited standardization. Able to interpret various instructions.

MATHEMATICS ABILITY: Ability to compute discount, interest, profit, and loss; commission markup and selling price; ratio and proportion and percentage. Able to perform very simple algebra.

LANGUAGE ABILITY:   Ability to read a variety of books, magazines, instruction manuals, atlases, and encyclopedias. Ability to prepare memos, reports, and essays using proper punctuation, spelling and grammar. Ability to communicate distinctly with appropriate pauses and emphasis; correct punctuation (or sign equivalent), and variation in word order; using present, perfect, and future tenses.

 Intent and Function of Job Descriptions:

Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.

All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.

In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.

Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.