Loan Processor Job Elgin area,Illinois USA,Finance & Banking

Responsible for working with lending staff and members to process loan applications in a timely and efficient manner. Responsible for complete follow-up on loan requests, including all system requirements and documentation completion. Act as a vital link between members and Alero lending staff by processing new loans and subsequent loan requests professionally and efficiently. Duties must be accomplished in compliance with federal and state laws and in accordance with the credit union’s policies and procedures and with constant attention to Alero’s creed, vision, mission and goals.

Duties

and Responsibilities

Process loan applications.

Prepare and complete loan documentation and loan booking upon approval by a certified loan officer.
Maintain and follow up on all loan documentation within department standards.
Complete maintenance of the new loan setup, new membership and account setup, payroll creation and follow-up.
Work closely with all lending staff to maximize average turnaround time on all loans.
Meet with the Lending Manager/Lending Supervisor(s) on a regular basis for title follow-up and additional needs.
Submit and maintain standards required on all completed loans to be audited for compliance.
Recognize the need to ask for assistance from the Lending Manager/Lending Supervisor(s) when needed.
Assist the Loan Technician with title follow up and scanning.
Maintain acceptable service levels in the department.

Provide member service

Assist with member telephone inquiries relating to their loan or general questions regarding the credit union.
Sell credit union products and services related to loan products (e.g., debt cancellation, MRC and GAP)
Resolve member problems by obtaining information and researching records until the matter is resolved.

All other duties as assigned.

Qualifications Education & Experience

Minimum high school diploma or its equivalency and one-year experience in an office environment or customer service, preferably experience in loan processing in a credit union or related business.
Able to communicate effectively through excellent interpersonal and telephone skills.
Must possess excellent judgment, reasoning, math, grammar, spelling, computer skills and be able to multi-task.
Attention to detail, a high level of communication skills and the ability to work both independently and in a team setting are required.

Applicable federal and multi-state regulations including, but not limited to:

NCUA Rules and Regulations (12 CFR Chapter VII)
12 CFR Part 701 – Organization and Operation of Federal Credit Unions
12 CFR § 701.21 – Loans to Members and Lines of Credit to Members
12 CFR Part 707 – Truth in Savings
12 CFR Part 716 – Privacy of Consumer Financial Information
Truth in Lending Act (TILA), Regulation Z
Equal Credit Opportunity Act (ECOA), Regulation B
Fair and Accurate Credit Transactions Act (FACTA)
Home Mortgage Disclosure Act (HMDA), Regulation C
Electronic Fund Transfer Act (EFTA), Regulation E
Electronic Signatures in Global and National Commerce Act (E-SIGN Act)
Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) Requirements
Military Lending Act (MLA)
Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), Regulation G
Bank Secrecy Act (BSA)
USA PATRIOT Act
Office of Foreign Assets Control (OFAC) Regulations
State Credit Union Acts and Regulations
State Consumer Credit and Lending Laws
State Privacy and Data Protection Laws
State Electronic Transactions Acts
State Motor Vehicle Title and Lien Perfection Laws
State Debt Collection Laws
State Consumer Fraud and Deceptive Practices Acts
State Notary and Electronic Notarization Laws
State Unclaimed Property (Escheatment) Laws
State UCC (Uniform Commercial Code) Secured Transactions Provisions
Applicable Multi-State Mortgage and Consumer Lending Requirements
Credit Union Policies and Procedures

While performing the duties of this job, the employee is frequently required to sit, view information on a computer screen, and talk or hear. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Telephone conversations may be monitored or recorded for the purposes of training, coaching, feedback and quality assurance on an unannounced basis.

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