CONSUMER LOAN PROCESSOR

Job Type

Full-time

Description

Primary Summary :

The Consumer Loan Processor is responsible for processing and booking consumer loans within the Loan Origination System to INSIGHT. The Loan Processor is also responsible for reviewing and verifying supporting documents submitted by branch personnel and loan applicants to ensure accuracy.

Essential Functions / Position Responsibilities :

• Review applications received, contact the applicant(s) for any missing information on the application such as purpose of the request and terms of the loan.
• Utilizes Meridianlink Loan Origination System by using features such as ordering credit reports, obtaining NADA collateral values, IQQ GAP, Mechanical Breakdown Protection, Debt Protection and Docusign.
• Maintain clear, professional communication with branch personnel, Underwriters and loan applicants regarding loan status, documentation required, and loan closing instructions.
• Contact branch personnel to reach out to applicant(s) to schedule closings once loan is clear to close if the applicant(s) would like to close in a branch. Loan Processor is responsible for completion of the funding information such as dates, GAP, MBP, Debt Protection and autopay. If the applicant(s) elects to close electronically, the Loan Processor would prepare the closing documents and send them to the applicant(s) to sign electronically through Docusign. Once electronically signed documents are received, the Loan Processor is responsible for booking the loan to INSIGHT, prepare check to print in branch if applicable and combine statement.
• LSI Fulfillment - Review personal loan closing package prepared by LSI to ensure accuracy prior to LSI sending out to applicant(s) for signatures. Once the loan is booked by LSI, review rate, term and combine statement in INSIGHT.
• Ancillary Products - must be familiar with all types as the Loan Processor will be required to cross sell GAP, Mechanical Breakdown Protection and Debt Protection.
• Cross selling other consumer loan product(s) - Meridianlink Loan Origination System prequalifies applicants for other consumer loan products. Loan Processor is responsible to cross sell whatever products they may prequalify for such as VISA Platinum / VISA Rewards Credit Cards, personal loans and / or vehicle loans.
• Provide routine information concerning the credit union, its services, and its policies.
• Monitor pipeline weekly, following up with applicants on existing loan application in process.

Requirements

Experience

Two to three years' consumer lending experience preferred.

Education / Certifications / Licenses

High School Diploma or equivalent required.

Interpersonal Skills

Knowledge of Windows applications, i.e. MS Word, Excel.

Knowledge of Credit Union specific applications (current origination and core processing software)

Salary Description

Market Value $26.80