What are the responsibilities and job description for the Direct Loan Processor 1 position at Sunward Federal Credit Union?
Description
Job Summary:
In this role, you will play 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.
Requirements
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.
Salary : $20 - $25
