Consumer Loan Officer 2

Sunward Federal Credit Union•Albuquerque, NM

6d•$27 - $34•Onsite

About The Position

This role plays a pivotal part in advising, reviewing, and evaluating members' lending needs for auto, personal, credit card, and home equity lines of credit. The Consumer Loan Officer 2 is responsible for managing the loan process from application to disbursement and beyond, including regular follow-up with members to assess their financial status. This position also involves educating and advising members on financial planning, policies, and rates, and providing comprehensive memo notes for underwriters. The role requires inputting information into the consumer loan operating system, evaluating credit worthiness, utilizing credit reports, verifying collateral, calculating loan payments, and processing applications initiated through indirect partners. Additionally, the role involves evaluating and processing Home Equity Lines of Credit (HELOC) applications, determining credit limits and terms, and providing guidance to applicants. Close collaboration with underwriters and loan processors is essential for timely and accurate processing of HELOC applications.

Requirements

Excellent interpersonal and negotiation 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 organizational skills in managing multiple initiatives.
Strong analytical and problem-solving skills.
Proficiency in assessing creditworthiness and understanding credit scoring systems.
Proven ability to meet and exceed sales targets.
Strong knowledge of consumer loan products, regulations, and market trends.
Strong knowledge of compliance with federal and state lending regulations (e.g., Equal Credit Opportunity Act, Fair Lending, Truth in Lending Act).
Current registration with the Nationwide Mortgage Licensing System (NMLS) or ability to become registered upon employment.
Minimum two years’ experience in consumer lending or directly related experience.
Minimum high school diploma/GED or more than two years of related experience.

Nice To Haves

Bilingual abilities may be preferred, depending on the market served.

Responsibilities

Evaluate loan applications and documentation by confirming creditworthiness.
Improve loan applications and documentation by informing the applicant of additional requirements.
Complete loan contracts by explaining provisions to the applicant; obtaining signatures and notarizations; collecting fees.
Help members by answering questions, responding to requests.
Maintain confidence by keeping loan information confidential.
Ensure compliance with all regulatory requirements and internal policies.
Manage the loan process from application to disbursement and beyond, including regular follow-up with members to assess their financial status.
Educate and advise members on such matters as appropriate financial planning, policies, and rates.
Provide comprehensive memo notes for the underwriter's review that contain relevant information to assist in loan decision-making.
Input information into the consumer loan operating system.
Evaluate credit worthiness and utilize credit reports to verify accuracy of the loan application.
Verify and inspect collateral offered.
Calculate loan payments, determine loan to value (LTV) and ascertain loan payoffs to other financial institutions.
Process and review loan applications that are initiated through an indirect (third party) partner.
Evaluate and process applications for Home Equity Lines of Credit (HELOC) in accordance with company policies and regulatory guidelines.
Determine appropriate credit limits and terms for HELOC products based on borrowers' financial status and equity in their homes.
Provide guidance and information to applicants about HELOC products, including interest rates, repayment terms, and the application process.
Work closely with underwriters and loan processors to ensure timely and accurate processing of HELOC applications.
Perform other duties as assigned by management.