Loan Processor

Cedar Point Federal Credit Union•California, MD

just now

About The Position

The Loan Processor is responsible for disbursing approved loans and lines of credit, providing excellent member service via various communication channels, and ensuring the accuracy and completeness of loan documentation. This role involves understanding the loan application process, verifying compliance with underwriting guidelines, collecting necessary signatures and documentation, and ensuring all collateral and insurance details are correct to protect the credit union's interests. The position also requires maintaining professional relationships with dealerships, managing title issues, and staying current with all underwriting guidelines and credit union products.

Requirements

High School Diploma required
Excellent organizational, verbal, and written communication skills.
Familiarity with data processing systems is an asset.
Ability to understand and follow oral and written instructions.
Ability to deal tactfully, courteously, and effectively with the public as well as employees.
Ability to complete and maintain accurate records.
Must be an assertive self-starter.
Must be able to work independently with limited supervision.

Nice To Haves

Associate degree or higher preferred
Two or more years of consumer lending experience with the credit union or other financial institution preferred
Knowledgeable on CUNA ancillary products (GAP, MRC, DP).
Ability to navigate CUNA site to build product contracts.

Responsibilities

Disburse approved loans/lines approved by the back-office lending team for both online and indirect channels, including dealer reserve.
Maintain professional relationships with dealerships and serve as the credit union liaison to dealership finance teams.
Manage and maintain title problem files.
Open accounts for indirect channel loans and contact dealerships to complete loan packages and collect stipulations.
Stay current on all underwriting guidelines for products offered by the credit union.
Assist members with the loan application process to ensure completeness of information.
Verify underwriting guidelines have been applied properly by the loan officer prior to funding.
Process, post, maintain, and follow up on any collateral protection, Life, Disability, and Involuntary Unemployment claims to the third-party vendor.
Post payments to the members' share or loan when due.
Review interest rate, term, and loan ratios to ensure they have been correctly applied by the underwriter.
Reach out to members to complete loan documents and arrange disbursements.
Verify all documentation has been properly completed and collected for each specific loan product prior to funding.
Print adverse action notices for declined loan applications.
Ensure loans are properly archived and documents have been transferred to the imaging system.
Follow up with members who need to deliver materials required for disbursement.
Take member phone calls to assist with loan questions.
Complete required and recommended educational courses.
Follow all rules and regulations applicable to job function, including but not limited to the Bank Secrecy Act.
Perform all other duties as assigned.