Consumer Loan Processor

Location
Herndon, VA
Posted
Sep 28, 2021
Closes
Oct 02, 2021
Ref
2021-1829
Function
Finance
Hours
Full Time
Overview

For more than 70 years, Northwest Federal Credit Union has provided valuable financial products and services for our members. Northwest offers employees a comprehensive benefits program including: medical and dental plans, paid time off, a generous 401k match, student loan assistance, parental leave, and the opportunity to grow professionally through a wide range of job-based, classroom and online training resources. Northwest Federal Credit Union has been recognized, for the second consecutive year, as a 2021 Top Workplace by The Washington Post and we believe that our success is built upon the excellence and achievement of our employees. Together, we serve and inspire to transform lives.

The Consumer Lending Loan Processor position is responsible for ensuring that outstanding customer service is delivered to both internal and external members. The Consumer Lending Loan Processor is responsible for reviewing and processing consumer loans. They must provide administrative loan support to Consumer Lending Management and to Loan Officers to ensure loans move to funding.

Responsibilities

  • Review approved applications to ensure all conditions have been met prior to funding
  • Process loan applications by verifying and evaluating information provided on consumer loan applications and preparing documents
  • Research and gather supporting data and documentation
  • Review and analyze all documentation received to determine ratios, credit and collateral acceptability Including but not limited to, income verification documents, collateral insurance binders, purchase orders, bills of sales, and any other documentation
  • Complete funding and disbursement of consumer loans
  • Ensure applications and disbursement instructions are complete and loans are in compliance with federal and NCUA laws, regulations, and NWFCU policies and procedures
  • Able to handle multiple loans in various stages in an environment consisting of phone calls, text messages and emails
  • Work directly with members and third parties (dealers) to obtain necessary paperwork to process Preapproved Loan (PAL) checks
  • Determine collateral, interest rates, terms, and other consumer loan criteria are accurate on loan documents
  • Verify quality and accuracy of loan documents and ensure proper loan documents are used during the application process
  • Monitor and manage multiple loan system queues and email inboxes to meet service levels
  • Remain alert to possible fraud and forward to the appropriate area for review or action
  • Research and respond to member inquiries and inquiries from internal departments from all channels, including telephone, e-mail, and secure web messaging
  • Responsible for cross-selling all products and services to include Debt Protection, Auto Warranty and GAP protection
  • Ensure loans are properly uploaded into core system while maintaining current knowledge of loan funding and documentation procedures
  • Follow up with members to obtain requested information and/or documentation
  • Must possess understanding of Federal regulations pertaining to Consumer Lending
  • Perform other related duties as assigned
  • Remain cognizant of and adheres to NWFCU policies and procedures, and regulations pertaining to the Bank Secrecy Act (BSA)


Qualifications

  • High school diploma or equivalent
  • Minimum 2 years of financial institution or member service experience; prior experience in lending is preferred.
  • Must have experience computing payment schedules
  • Must have strong computer skills and proficiency with lending industry software and terminology


EEO Notice

Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.

NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.

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