Consumer Loan Processor

Consumer Loan Processor

Position Title: Consumer Loan Processor

LOCATION: Hybrid

Department: Lending

Classification: Non Exempt

REPORTING RELATIONSHIPS

Position Reports To: VP of Lending

POSITION PURPOSE

Establish loan files and orders documentation required to process loans. Responsible for the accuracy and completeness of all loan documentation. Processes consumer loan files after closings to ensure that documents are recorded with proper recording authority and the loans are entered correctly into the company records. Inputs loan documents, processes loan payoffs and maintains loan files. Offers virtual lending assistance via phone calls, video calls, or online applications. Completes monthly reporting requirements to review prior months’ loan growth, and quality assurance.

In addition, this individual serves as a backup for centralized underwriting team for consumer loan decisioning. Assists with completing indirect lending loan applications through CUDL and Route One. Receives and evaluates member loan requests via CU Base. Acts as a resource for information regarding loan decisions, member loan inquiries, and company lending products and services. Responsible for granting or denying loans within limits assigned and providing the highest quality of service to members.

ESSENTIAL FUNCTIONS AND BASIC DUTIES

· Assist in closing consumer loan packages ensuring all items are in package and closed in a timely manner. Follow up with MSOs on missing items.

· Reviews loan applications and orders reports necessary to process loans. May order credit reports and income/employment verifications, requests title and lien search, and processes credit verification requests.

· Inputs data for direct and indirect consumer loans on the mainframe system and generates necessary documents and reports.

· Complete virtual lending tasks that ensure members have the information and assistance they need and maintain the company’s positive reputation.

· Provides administrative support for the loan department by responding to routine inquiries for consumer loan account balances and payoff amounts and greeting call-in members. Maintains files for the loan department.

· Processes loan payoffs, paid out loan reports and collateral documents. Completes electronic title lien releases once loan is paid off.

· Take member calls and provide accurate, satisfactory answers to their queries and concerns pertaining to lending.

· Helps handle member inquiries from Member Solutions Center pertaining to lending.

· As a backup, will receive customer loan requests through loans que, processes, evaluates and underwrites loan requests using judgment and discretion in making decisions to satisfy the customer needs. Loans outside of guidelines or approval parameters are escalated to the VP of Lending/CEO with a recommendation as to the loan decision for each loan.

o Is expected to backup centralized underwriting team when team is under two people available.

o Responsible for communicating loan decisions to Membership Officers including the ability to discuss loan denials, loan alternatives and rate computation in a clear, concise and courteous manner.

o Obtains and evaluates credit bureau reports, income documentation, collateral valuation reports, title information, and other factors relevant to the underwriting of consumer loans. Completes post-closing loan follow-up

· Complete Monthly Lending Reports, not limited to:

o Skip-a-Pay, Disability, Pay Ahead Analysis, Visa Overpaid, and Maturing CD Secured Loan Report

o Title Tracking Report

o New Loan Report

· Prepare loan analytic information as requested for research on member behavior and growth measurements.

· Must comply with all company policies and procedures, applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control

Credit Union Employee

a. Ensures work area is clean, secure, and well maintained.

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

c. Assists with promotional activities. Cross sells services.

d. Participates in credit union committees and special events.

e. Completes special projects as assigned.

Professional Development

• Network and attend functions outside of credit union.
• Community involvement.
• Team collaboration. Aid, support and share knowledge to lending team as well as all credit union staff.

i. Ensures the Credit Union’s professional reputation is maintained both internally and externally.

j. Represents the Credit Union in contact with business and trade professionals.

• Continual training, education, and certification.
• Maintain and advance thorough knowledge of lending programs, procedures, guidelines, and regulatory requirements.
• Demonstrates a commitment to professional ethics and complying with all credit union, Federal and State compliance policies.

PERFORMANCE MEASUREMENTS

1. Loan applications are promptly disclosed and accurate according to current guidelines, policies, and procedures.

2. Completes monthly reporting in a timely manner.

3. Time management skills are optimized, and productivity adequately increases or is maintained per market conditions and/or credit union policies.

4. Good attendance and professional appearance.

5. Safe lending practices are maintained which result in delinquency ratios no higher than the national averages.

6. Good business communication exists with member applicants and their lending needs are properly assessed and met. Effective financial counseling is provided as needed.

7. Professional business relations exist with external trade contacts. Questions and problems are promptly and courteously reported and/or resolved.

8. Effective working relations and coordination exist with Department and Credit union personnel. Support is requested as required. Management is appropriately informed of area activities and of any significant concerns.

9. Lending services are efficiently and effectively provided in accordance with established credit union policies and standards, applicable laws, and regulations.

QUALIFICATIONS

Education/Certification: High School diploma, or equivalent,preferred college degree in business, finance, or a related field; or equivalent experience.

Required Knowledge: Thorough knowledge of secondary conventional and governmental loan products along with credit union products and applicable policies and standards.

Understanding of government regulations and legal requirements involving lending and related functions.

Familiarity with loan promotions and marketing practices.

Experience Required: Business or real estate related experience recommended.

Skills/Abilities: Strong communication, problem solving and multitasking skills.

Good project management abilities.

Well organized, and able to meet deadlines.

Excellent public relations skills.

Able to operate related computer applications and business equipment.

PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Talking: Able to converse with members confidently, adequately, and accurately. Convey loan decisions and information at a professional level.

Average Hearing: Able to hear average or normal conversations and receive ordinary information.

Average Visual Abilities: Average, ordinary, visual acuity necessary to prepare or inspect documents or products, and operate machinery.

Physical Strength: Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. Ability to lift as much as 50 lbs. (Almost all office jobs.)

WORKING CONDITIONS

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

MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION

Reasoning Ability: Ability to apply logical or scientific thinking to define problems, collect data, establish facts, and draw conclusions.

Able to interpret a variety of technical instructions and deal with multiple variables.

Mathematics Ability: Ability to compute discount, interest, profit and loss; commission markup and selling price; calculate ratios, 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 pronunciation (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.

Job Type: Full-time

Benefits:

• 401(k)
• Dental insurance
• Employee assistance program
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Tuition reimbursement
• Vision insurance

Schedule:

• 8 hour shift
• Evening shift
• Monday to Friday
• Weekends as needed

Ability to Relocate:

• Manistee, MI 49660: Relocate before starting work (Required)

Work Location: Hybrid remote in Manistee, MI 49660