HELOC Coordinator

About the role

The Loan Coordinator (LC) will own the member relationship from the moment our member applies for a Home Equity product till our member finishes the process. The LC will focus on guiding our members forward by providing expertise and financial education through AAA and delivering world class service.

Responsibilities

• Provides exceptional member service to credit union membership by assessing member needs and advising to improve their financial situation
• Recognizes member needs, educates on options for managing financial transactions through MACU tools, resources, technology and cross-sells products and services as needs arise through a consultation approach
• Consistent focus on increasing member satisfaction, building the membership base and account retention
• Meets performance goals, resolves problems by clarifying member complaints, determining the cause of the problem, providing the best solution to resolve the problem, expediting correction or adjustment, and following up to ensure resolution
• Communicate regularly with new and active loan applicants to ensure they receive exceptional service throughout the loan process
• Processes Home Equity Line of Credit applications up to $399,999
• Shows understanding and application of MACU home equity lending processes, procedures, and guidelines, and understanding of appropriate federal and state real estate lending regulations and how they apply to MACU
• Processes loans by accepting and reviewing loan applications
• Analyzes data to verify borrower information and uncover fraud
• Interviews loan applicants, reviewing credit report and collateral information
• Makes an initial assessment of the credit worthiness of borrowers through proper review of borrowers’ credit reports/scores
• Gathers and analyzes paystubs, personal taxes, verification of income/employment, and assess any concerns with income
• Develops and maintains quality timeframes and management of pipeline to achieve and meet required deadlines
• Identifies alerts requiring disclosures, re-disclosures and other necessary attention to loan files and work with loan officer to remedy
• Affixes Notice of Incomplete Applications, Withdrawals, and Denials within required time frames
• Reviews the real estate collateral including its condition, AVM, and loan to value
• Orders AVM and title report upon receipt of all qualifying documentation and Intent to Proceed
• Ensures proper lien position of requested loans through analysis of collateral title reports and clearing of collateral liens that could increase the risk of the loan
• Demonstrates understanding of what is required for alerts, warnings and Mavent fails
• Confirms each loan file is complete with all required loan documentation and prepared for further analysis and underwriting
• Confirms loan file has all required documentation and submit to underwriting
• Reviews and analyzes borrower trust documents to ensure they meet MACU trust lending guidelines with special attention to the legal ability of the trust to borrow and the proper trust ownership of collateral property for deed of trust recording
• Works with borrower’s insurance companies to ensure the proper homeowners and flood insurances are accurate and in place, and that MACU is listed as lien holder
• Verifies borrower’s employment status in accordance with MACU guidelines and, when necessary, CFPB “Ability to Repay” regulations
• Works with borrowers’ other financial institutions to obtain accurate and timely pay-off information for loans that will be paid-off with the proceeds of the home equity loan
• Maintains confidentiality of credit union and member information
• Be detail oriented and ensure the processing quality of home equity loans by achieving documentation accuracy, goals and standards
• Maintain quality turn times and self-management of workload/pipeline to hit strict deadlines and production standards
• Builds and maintains a cooperative working relationship with other home equity lending team members as well as vendors and branch/member service personnel
• Participates in ongoing training of home equity products
• Participates in other duties as assigned

Other Responsibilities

• Works with Member Service Team to ensure home equity loan applications are complete and accurate
• Represents the credit union in a professional manner
• Responds to email/voicemail/missed calls/other communication in a timely manner
• Actively participates and completes product knowledge courses
• Complies with all regulations as required by law
• Performs other duties as assigned
• Trains, coaches and mentors other Financial Service Representatives

Knowledge, Skills, and Abilities

• Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job functions
• Experience: One year of experience in a finance or sales related field. Work in the mortgage industry preferred
• Ability to satisfy immediate and unexpected needs, by recommending credit union products and services with knowledge and confidence
• Ability to multi-task and maintain composure while handling all member activities and requests
• Ability to perform mathematical calculations
• Ability to communicate effectively using written and verbal communication

Education

• High school diploma or equivalent

Licenses, Certifications, Registrations

• Must be able to qualify for a NMLS number under S.A.F.E Act after hire into position

Managerial Responsibility

• No supervisory/managerial responsibilities