Consumer Loan Processor I
Navy Federal Credit Union•Vienna, VA
•$21 - $28•Onsite
About The Position
Processes loan applications by verifying and evaluating information provided on consumer loan applications; researching and gathering supporting data and documentation; and providing administrative support to the loan processing function.
Requirements
- Familiarity with consumer lending principles, policies and financial practices
- Familiarity with information contained in a credit bureau report, Fair Credit Reporting Act and credit lending policies
- Basic skill examining and interpreting information quickly and accurately
- Basic skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
- Basic skill interacting with staff, management, vendors and members diplomatically and tactfully
- Basic verbal and written communication skills
Responsibilities
- Ensures loan applications are complete and in compliance with Federal and NCUA laws, regulations and Navy Federal policies and procedures
- Reviews member loan applications to evaluate completeness and determine additional information and/or supporting documentation required
- Contacts member for further clarification and to acquire additional details; verifies employment, reference, credit, and payoff information; and conducts re-interviews of members to obtain additional information requested by the Lending Committee
- Counsels members regarding appropriate loan options, loan status, and Navy Federal policies and procedures; maintains confidentiality of member information
- Verifies loan applicants' employment data via telephone, email or facsimile (fax) with employers, human resources departments, supervisors and other third parties
- Reviews and responds to inquiries from members, Branches, Consumer Loan Servicing, Contact Center and Correspondence regarding credit decisions, additional information needed, lending policies and practices and collateral requirements
- Determines collateral required to secure loans, appropriate interest rates, loan repayment terms and purpose codes
- Transcribes consumer loan application requests into automated loan processing systems; updates member demographic information; and forwards information to the appropriate area for action
- Submits loan cancellations via online oral communication system to initiate action
- Remains alert to situations that may indicate possible fraud
- Forwards completed documentation to Image Section for processing into the electronic member record
- Provides administrative support to the section and Lending Committee to facilitate loan application processing
- Receives online requests to contact members/third parties regarding checks received from dealers and requests to drop/waive automobile insurance
- Enters subsequent changes in the original loan status (i.e., resubmitted loan applications and appeals) into the online loan system
- Forwards information to appropriate loan personnel for decision
- Monitors specific queues in the loan system, extra fax database, and various other databases to review pending items and perform necessary actions
- Reviews, analyzes, and returns drafts via the Draft Processing System
- Sorts and distributes incoming mail/faxes
- Forwards correspondence to loan officers for Lending Committee action
- Obtains, assembles and researches consumer loan information
- Typically receives some guidance and/or instruction from Consumer Loan Processor II
- Performs other related duties as assigned
Benefits
- Highly competitive pay
- Generous benefits and perks
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
No Education Listed
