Consumer Loan Processor

Primary Function

Under the supervision of the Department Manager, processes consumer loans on a timely and accurate basis and provides a consistently high level of quality service to members and potential members in the lending process.

Essential Duties And Responsibilities

• Captures and analyzes all required forms and documentation for consumer loan products.
• Supports members and departments in all aspects of consumer loan and consumer loan servicing.
• Coordinates with consumer loan applicants in person, by phone, and electronically, assisting members in providing information, answering questions, and completing loan applications.
• Reviews and requests all required information and documentation to secure a consumer loan and researches discrepancies.
• Interviews and originates potential consumer loan applicants for approval and/or denial.
• Answers questions for members throughout the process, explaining the loan process, including loan options, insurance required on Credit Union loan products, loan policies, interest rates, payoffs, etc.
• Prepares credit investigation and verification for related applications.
• Verifies contents and completion of approved loan folders and inputs on the computer system.
• Maintains a filing system and procedures to monitor that the required documentation is received in a timely manner and maintained appropriately and according to policies and procedures.
• Closes approved loans; completes all necessary loan documents to close the file; and prepares payroll designation and all other related documents to bring to completion.
• Processes daily mail payments for consumer loans, when assigned.
• Informs members of Credit Union products and services, explaining features and benefits; cross-sells products and services when appropriate and within scope of responsibility.
• Functions as needed to positions within the Loan Origination/Servicing Department as required.
• Maintains and controls lending file folders.
• Provides backup support for Lending Reception desk and related department mailings.
• Attends training sessions upon request.
• Adheres to the anti-money laundering policy and the Bank Secrecy laws.
• Assumes other duties as new products, services, or technology are introduced.

Knowledge, Skills, And Experience Required

• Professional and pleasant interpersonal and communication skills.
• General knowledge of all Credit Union products and services as well as credit procedures (required).
• Proficiency with computer software applications including Word and system applications is required.
• Two years of experience in a bank, Credit Union, or mortgage company (required).
• Able to read and understand oral and written instructions.
• Able to effectively communicate with members or employees and to solve day-to-day problems involving several variables in standard situations.
• Intermediate mathematical skill required (adding, subtracting, multiplying, dividing, percentages, interest).