Direct Consumer Lending Processor

Arkansas Federal Credit Union•Little Rock, AR

About The Position

The primary function of this position is to identify the financial needs of each member and recommend an appropriate Credit Union solution. This position is responsible for performing follow-up with loan applications submitted online or through the Arkansas Federal Contact Center in order to complete their loan request and deepen their relationship with the cooperative. This position must have extensive knowledge of policies and procedures related to loan products and loan documents, and be able to work the entire loan process, from origination to funding. This includes: completing loan applications, communicating and explaining decisions and/or stipulations to members and team members, collecting needed information and documentation, ensuring their accuracy and that they fall within established guidelines, cross-selling additional products, setting up loans for closing, processing documents and disbursing them to appropriate branch staff and/or closing loans through mail and electronic delivery methods, and funding loans when signed documents are received. All loans will be subsequently examined for accuracy and completeness.

Requirements

High school or GED, plus specialized schooling and/or on the job education in a specific skill area; e.g. data processing, clerical/administrative, equipment operation, etc, plus 12 to 18 months related experience and/or training, or equivalent combination of education and experience.

Responsibilities

Act as first point of contact and follow up with members applying online or through the Contact Center throughout the loan process from application to funding.
Ensure that all information and risk ratios submitted by loan underwriters and originators is accurate and meets all lending policy, lending guidelines and procedure requirements.
Responsible for maintaining extensive knowledge and communicating lending policy and guideline violations to the originators and underwriters and communicate necessary corrections needed to proceed with loan closing/funding.
Process all loan types for all Arkansas Federal service centers and route to appropriate branch for closing. Ensure all information is entered correctly in all lending software.
Has full decision making authority to determine if a loan meets the required loan standards necessary to complete processing.
Ensuring loan stipulations made by underwriters are met and provide support to originators by conferring with underwriters of appropriate authority to resolve loan application problems resulting in closed and funded loans.
Provide members that have open application with appropriate financing options based on credit analysis.
Request, obtain, and verify collateral values on secured loans.
Cross-sell financial products and services appropriate to each member's personal financial needs, including but not limited to, GAP coverage, extended warranty coverage, debt protection and new accounts.
Create, maintain and manage the tracking spreadsheets on outstanding loans to ensure efficient and timely follow up. Must also, cancel or withdraw applications within loan origination system when necessary.
Read and interpret credit reports and compile required information for completion of loans through member interviews, credit union records, credit reports and other sources necessary.
Interact with members via telephone, email, fax or mail to obtain documentation, stipulations and/or additional information needed to complete loan requests.
Discuss, verify and relay information to applicants and originators regarding documentation including but not limited to titles registrations, insurance, proof of income, purchase orders and bill of sale.
Notate loan applications in detail with status updates to foster easy reference for team members to relay information to members. Correspond with dealers, insurance companies, state revenue offices, financial institutions, and any other applicable 3rd party to obtain necessary information and/or documents for loan applications.
Provide members and team members with current, accurate information and guidance concerning loan products, loan policies, interest rates, repayment terms, acceptable types of collateral as well as credit history and denials. Perform address updates, non-cash account transactions, loan modifications and other maintenance as needed on member accounts. Responsible for performing necessary field maintenance for verifying and updating loan information in the core system for accuracy of approved direct loans.
Review, analyze and prepare completed and contracted applications to ensure completeness and accuracy before processing for booking and funding. This includes verifying rates, stipulations, documentation, and collateral value if applicable. Responsible for reviewing and delivering the FACTA disclosures to members prior to signing of a loan to comply with Risk Based Pricing regulations.
Schedule Branch closings and Mail and/or email closing documents to members. Upon return receipt, ensure accuracy of documents and adherence to stipulations. Prepare documents for e-signatures, review, maintain and ensure transference of documents to Nautilus. Review, contact members, set closing and process documents for Auto-Approved loans.
Responsible for preparing loan files and ensuring all other critical and non-critical documents are appropriately archived.
Responsible for collaborating with Payment Solutions for Credit Card maintenance in Credit Console including, but not limited to processing balance transfers, rate adjustments, credit limit adjustments, adding or removing borrowers, closing cards, and removing or adding debt protection. Payment Solutions completes all transaction in Credit Console.
Ensure that all required documents have been received and signed before the loan is booked and checks are disbursed, as well as payoff letters sent where applicable. If any violations exist, Agents must take necessary steps to obtain needed information and/or documentation from appropriate personnel involved. Review each loan packet after booking to ensure exceptions are minimal. Overseen by the Board of Directors.
Remain current on all Lending Regulations as they pertain to Consumer, and Credit Cards. Must have knowledge of title laws and documents required to obtain titles; knowledge of UCC laws to secure non-titled collateral to ensure time frames and loan maintenance deadlines are met. Properly administer any appropriate title work including but not limited to direct liens, UCC filings, mortgages, etc.
Identify potential problems with loan applications and assist applicants in arriving at workable solutions prior to processing. Contribute to and work special promotions activities and loan specials as needed. Meet and maintain department performance metrics as measured through loan productivity and sales.
Work individually or in a group on projects as assigned. Ability to effectively and efficiently manage continuously changing priorities. Maintain and contributes to a positive and productive work environment. Establish and maintain and effective working relationship with other departments and individuals within the credit union. Safeguard members and organizational information by maintaining total confidentiality.
Perform any other related duties as required or assigned.