Automotive Loan Underwriter

The most successful automotive loan underwriters are loan underwriting experts with an intimate knowledge of the daily operations within a dealership sales and F&I department (how their clients operate). Successful loan underwriters understand the dealership’s F&I management functions that relate to the creation of a well structured and documented loan that fits lending requirements. That knowledge includes how F&I managers confirm the final sales figures with the customer are accurate, prepare lending and vehicle registration paperwork, ensure documents needed for fast funding from lenders are in order, and offer vehicle service contracts, insurance or aftermarket products to consumers to help protect their purchase – all while ensuring 100% customer satisfaction with the customer before they leave the dealership. A solid understanding of DMV laws, Compliance and Ethics guidelines, Federal and State regulations, DMV and contract forms and required disclosures, loan underwriting guidelines, credit bureau interpretation, loan stipulations, dealership sales and desking procedures, deal structuring, special finance lending, guidelines, deal structuring and regulations, combined with exceptional interpersonal, organizational, and presentation skills are essential to being a top producing F&I manager at a new or used car dealership are critical for maximum success, in addition to completely understanding their own lenders guidelines and how they compare (compete) with other lenders in the area (in their dealership client accounts).