Job Summary:
This role plays a pivotal part in advising, reviewing, and evaluating members' lending needs for auto, personal, credit card, and home equity lines of credit.
Essential Job Duties:
General loan responsibilities:
- Evaluate loan applications and documentation by confirming creditworthiness.
- Improve loan applications and documentation by informing the applicant of additional requirements.
- Complete loan contracts by explaining provisions to the applicant; obtaining signatures and notarizations; collecting fees.
- Help members by answering questions, responding to requests.
- Maintain confidence by keeping loan information confidential.
- Ensure compliance with all regulatory requirements and internal policies.
- Manage the loan process from application to disbursement and beyond, including regular follow-up with members to assess their financial status.
- Educate and advise members on such matters as appropriate financial planning, policies, and rates.
- Provide comprehensive memo notes for the underwriter's review that contain relevant information to assist in loan decision-making.
- Perform other duties as assigned by management.
Consumer loan responsibilities:
- Input information into the consumer loan operating system.
- Manage the loan process from application to disbursement and beyond, including regular follow-up with members to assess their financial status.
- Evaluate credit worthiness and utilize credit reports to verify accuracy of the loan application.
- Verify and inspect collateral offered.
- Calculate loan payments, determine loan to value (LTV) and ascertain loan payoffs to other financial institutions.
- Process and review loan applications that are initiated through an indirect (third party) partner.
HELOC loan responsibilities:
- Evaluate and process applications for Home Equity Lines of Credit (HELOC) in accordance with company policies and regulatory guidelines.
- Determine appropriate credit limits and terms for HELOC products based on borrowers' financial status and equity in their homes.
- Provide guidance and information to applicants about HELOC products, including interest rates, repayment terms, and the application process.
- Work closely with underwriters and loan processors to ensure timely and accurate processing of HELOC applications.
