Consumer Loan Processor

Primary Summary

The Consumer Loan Processor is responsible for processing and booking consumer loans within the Loan Origination System to INSIGHT. The Loan Processor is also responsible for reviewing and verifying supporting documents submitted by branch personnel and loan applicants to ensure accuracy.

• Review applications received, contact the applicant(s) for any missing information on the application such as purpose of the request and terms of the loan.
• Utilize Meridianlink Loan Origination System by using features such as ordering credit reports, obtaining NADA collateral values, IQQ GAP, Mechanical Breakdown Protection, Debt Protection and Docusign.
• Maintain clear, professional communication with branch personnel, Underwriters and loan applicants regarding loan status, documentation required, and loan closing instructions.
• Contact branch personnel to schedule closings once the loan is clear to close if the applicant(s) want to close in a branch. The Loan Processor is responsible for completing the funding information such as dates, GAP, MBP, Debt Protection and auto‑pay. If the applicant elects to close electronically, the processor prepares the closing documents and sends them for electronic signature through Docusign.
  
  Once electronically signed documents are received, the processor books the loan to INSIGHT, prepares a check to print in branch if applicable, and prepares the combine statement.
• LSI Fulfillment – review the personal loan closing package prepared by LSI to ensure accuracy prior to sending it to the applicant(s) for signatures. Once the loan is booked by LSI, review the rate, term and combine statement in INSIGHT.
• Ancillary Products – the processor must be familiar with all types as the loan processor will be required to cross‑sell GAP, Mechanical Breakdown Protection and Debt Protection.
• Cross‑sell other consumer loan products – Meridianlink prequalifies applicants for other consumer loan products. The processor is responsible for cross‑selling whatever products the applicant may prequalify for such as VISA Platinum/VISA Rewards Credit Cards, personal loans and/or vehicle loans.
• Provide routine information concerning the credit union, its services, and its policies.
• Monitor the pipeline weekly, following up with applicants on existing loan applications in process.

Experience

Two to three years’ consumer lending experience preferred.

Education/Certifications/Licenses

High School Diploma or equivalent required.

Interpersonal Skills

Knowledge of Windows applications, i.e. MS Word, Excel.
Knowledge of Credit Union specific applications (current origination and core processing software)