Loan Processor

Cedar Point Federal Credit Union•California, MD

About The Position

The Loan Processor disburses approved consumer loans and lines of credit funded through the credit union’s back-office lending team, including online and indirect channels. The role supports members in person, by phone, and electronically throughout the loan application and funding process. It ensures applications and loan packages are complete, underwriting guidelines have been applied correctly, required documentation and signatures are collected, and title and insurance requirements are satisfied to protect the credit union’s interest. The position also supports indirect lending relationships with dealerships, manages title problem files, handles loan documentation and account opening, and processes certain ancillary-product and insurance-related claims and payments. The Loan Processor maintains accurate records, archives loan files, transfers documents to the imaging system, assists members with loan questions, and follows applicable rules and regulations, including the Bank Secrecy Act.

Requirements

High school diploma required.
Excellent organizational, verbal, and written communication skills.
Ability to understand and follow oral and written instructions.
Ability to deal tactfully, courteously, and effectively with the public and employees.
Ability to complete and maintain accurate records.
Assertive self-starter.
Ability to work independently with limited supervision.

Nice To Haves

Associate degree or higher preferred.
Two or more years of consumer lending experience with a credit union or other financial institution preferred.
Familiarity with data processing systems is an asset.

Responsibilities

Disburse approved loans and lines of credit for online and indirect channels, including loans with dealer reserve.
Maintain professional relationships with dealerships and serve as the credit union liaison to dealership finance teams regarding loan documents, unperfected liens, and title issues; manage title problem files.
Open accounts for indirect-channel loans, contact dealerships to complete loan packages, and collect stipulations.
Stay current on underwriting guidelines for credit union products.
Assist members with the loan application process and ensure applications are complete.
Verify that loan officers have properly applied underwriting guidelines before funding.
Use CUNA resources to build ancillary-product contracts and process, post, maintain, and follow up on collateral protection, life, disability, and involuntary unemployment claims with the third-party vendor; post payments to members’ shares or loans when due.
Review loans for correct interest rates, terms, and loan ratios.
Contact members to complete loan documents and arrange disbursements.
Verify that required documentation has been completed and collected for each loan product before funding.
Print adverse action notices for declined loan applications.
Ensure loans are properly archived and documents are transferred to the imaging system.
Follow up with members who must provide materials required for disbursement.
Answer member phone calls and assist with loan questions.
Complete required and recommended educational courses and follow applicable rules and regulations, including the Bank Secrecy Act.
Perform other duties as assigned.