Indirect Processor 1

Sunward Federal Credit Union•Albuquerque, NM

just now

About The Position

Job Summary: Pays a pivotal role in processing and originating of indirect loan applications. Essential Job Duties: General loan responsibilities: Process loans are initiated by third party partners. 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 the system. Analyze supporting documentation, utilize credit reports to verify accuracy of loan application, and forward non-automated response loans to Loan Officer for underwriting. 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 and dealers Perform other duties as assigned by management. Indirect Consumer Loan Responsibilities: Indirect lending duties also include: Verify dealer reserve fees and promotional charges. Open new membership accounts as needed. Act as primary contact for vendor to verify current membership and/or pre-approved loan status. Fund completed loan requests.

Requirements

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.
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)
Minimum one year’s experience in financial institutions or related experience
Minimum high school diploma/GED or more than one year of related experience
Prolonged periods of sitting at a desk and working on a computer.
Must be able to lift 5 pounds at times.

Responsibilities

Process loans are initiated by third party partners.
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 the system.
Analyze supporting documentation, utilize credit reports to verify accuracy of loan application, and forward non-automated response loans to Loan Officer for underwriting.
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 and dealers
Perform other duties as assigned by management.
Verify dealer reserve fees and promotional charges.
Open new membership accounts as needed.
Act as primary contact for vendor to verify current membership and/or pre-approved loan status.
Fund completed loan requests.