Loan Processor Job Duties
The purpose of a Loan Processor is to assist the loan department in the processing and completion of loans. They will maintain a professional work environment and uphold the confidentiality of the department with integrity. They will work as a valued team member among their peers and willfully act as backup for others as necessary to ensure the success of the credit union.
Duties include but are not limited to:
• Process loan and credit card applications, whether received in person, by phone or mail, as directed by the Loan Officer by collecting all relevant information required to fully process application. Upon approval, prepare documents for closing and posting loan.
• Work alongside Loan Auditor to produce or obtain any required items to ensure compliance and loan completion. Verify loans booked and verify all worksheets for accurate information in Portico.
• Work closely with the Title Clerk to complete title research and support the collateral protection program.
• Process and work various reports on a monthly and quarterly basis to verify documentation and proper loan completion.
• Record and process incoming loan payments by mail, night drop, and phone.
• Serve as backup for payment and claim processing of credit life/disability policies.
• Assist Loan Officers with the processing of CUDL loans.
• Assist with incoming calls to the loan department and connect members with appropriate personnel.
• Process payment coupons for mass mailing.
• Process Skip-A-Pay forms and DocuSign ACH/Deferment forms for members upon request.
• Perform a periodic review of all credit cards as regulations require.
• Develop an understanding of the credit union history, philosophy, organization, by-laws, and operations procedures.
• Assist in any area as directed by the President, Lending Manager, and/or Branch Manager to ensure proper operations.
