Consumer Loan Officer 2

Sunward Federal Credit Union; Albuquerque (NM); On-site; USD 42,000 - 65,000; Full time

Job summary

Sunward Federal Credit Union in Albuquerque, NM is seeking a Lending Specialist to advise members on auto, personal, credit card, and HELOC options, review applications, and guide them through the loan process.

You will collaborate with underwriters and loan processors to ensure timely, accurate processing, maintain confidentiality, assess creditworthiness, and explain rates, terms, and repayment options.

Qualifications

• Two years’ experience in consumer lending or related field.
• High school diploma or GED required.
• Knowledge of consumer loan products, regulations, and market trends.
• Familiar with federal and state lending regulations (e.g., ECOA, Fair Lending, TILA).
• NMLS registration or ability to become registered.

Responsibilities

• Evaluate loan applications and confirm creditworthiness.
• Explain loan provisions, obtain signatures, and collect fees.
• Educate members on loan options, rates, and terms.
• Ensure regulatory compliance and maintain confidential information.
• Coordinate with underwriters and loan processors for timely processing.

Skills

Interpersonal skills

Negotiation

Sales targets

Credit analysis

Bilingual

Education

High school diploma or GED

Tools

Microsoft Office

Job description

Description

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.

Requirements

Required Skills/Abilities:

• Excellent interpersonal and negotiation skills.
• Excellent organizational skills and attention to detail.
• Strong proficiency with Microsoft Office applications. Familiar and comfortable with information technology, particularly digital means of communication.
• Strong organizational skills in managing multiple initiatives.
• Strong analytical and problem-solving skills.
• Proficiency in assessing creditworthiness and understanding credit scoring systems
• Proven ability to meet and exceed sales targets
• Bilingual abilities may be preferred, depending on the market served

Knowledge:

• Strong knowledge of consumer loan products, regulations, and market trends
• Strong knowledge of compliance with federal and state lending regulations (e.g., Equal Credit Opportunity Act, Fair Lending, Truth in Lending Act)
• Current registration with the Nationwide Mortgage Licensing System (NMLS) or ability to become registered upon employment

Education and Experience:

• Minimum two years’ experience in consumer lending or directly related experience
• Minimum high school diploma/GED or more than two years of related experience

Physical Requirements:

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift 5 pounds at times.