Description:
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:
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Process vehicle loans initiated from the lending operating system
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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.
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Input loan data into loan operating system.
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Analyze supporting documentation, utilize credit reports to verify accuracy of loan application, and forward non-automated response loans to Underwriting for approval.
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Verify and inspect collateral offered.
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Calculate loan payments, determine loan to value (LTV) and make loan changes to secure a clear lien position.
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Conducting callbacks to members
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Perform other duties as assigned by management.
Direct Vehicle Loan Responsibilities:
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Act as primary contact for member post-funding to verify loan status, work with vendors on completion of funding and MVD process.
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Book and fund loans.
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Process and review loan applications through the MVD process.
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Collect necessary documents required for vehicle title transfer.
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Run MVR to determine the status of the vehicle title.
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Send completed MVD package to Loan Services.
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Document and file loan applications to secure the Credit Union’s collateral.
Requirements:
Required Skills/Abilities:
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Excellent interpersonal skills.
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Excellent organizational skills and attention to detail.
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Strong proficiency with Microsoft Office applications. Familiar and comfortable with information technology, particularly digital means of communication.
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Strong analytical and problem-solving skills.
Knowledge:
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Basic knowledge of consumer loan products, regulations, and market trends
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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:
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Minimum one years’ experience in financial institutions or related experience
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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.
