Consumer Loan Processor 1

Job Summary:

This role plays a pivotal part in assisting consumer loan officers with the processing of loan requests with a focus on direct loan applications.

Essential Job Duties:

General loan responsibilities:

• Process vehicle loans initiated from the lending operating system
• Verify loan files for accuracy, completeness and to ensure compliance with all federal and state requirements including but not limited to interest rate, collateral value, payment calculation, payment schedule.
• Input loan data into loan operating system.
• Analyze supporting documentation, utilize credit reports to verify accuracy of loan application, and forward non-automated response loans to Underwriting for approval.
• Verify and inspect collateral offered. 
• Calculate loan payments, determine loan to value (LTV) and make loan changes to secure a clear lien position.
• Conducting callbacks to members
• Perform other duties as assigned by management.

Direct Vehicle Loan Responsibilities: 

• Act as primary contact for member post-funding to verify loan status, work with vendors on completion of funding and MVD process.
• Book and fund loans.
• Process and review loan applications through the MVD process. 
• Collect necessary documents required for vehicle title transfer.
• Run MVR to determine the status of the vehicle title.
• Send completed MVD package to Loan Services.
• Document and file loan applications to secure the Credit Union’s collateral.

Required Skills/Abilities:

• Excellent interpersonal skills.
• Excellent organizational skills and attention to detail.
• Strong proficiency with Microsoft Office applications. Familiar and comfortable with information technology, particularly digital means of communication.
• Strong analytical and problem-solving skills.  

Knowledge:

• Basic knowledge of consumer loan products, regulations, and market trends
• Basic knowledge of compliance with federal and state lending regulations (e.g., Equal Credit Opportunity Act, Fair Lending, Truth in Lending Act)

Education and Experience:

• Minimum one years’ experience in financial institutions or related experience
• Minimum high school diploma/GED or more than one year of related experience 

Physical Requirements: 

Prolonged periods of sitting at a desk and working on a computer.

Must be able to lift 5 pounds at times.