Consumer Loan Processor I

First City Credit Union; Altadena (CA); On-site; USD 48,000 - 68,000; Full time

Benefits offered by this job

Medical, dental, and vision insurance

Life insurance

401k Retirement Plan (matching 5%,立即 v

Paid Time Off (PTO)

Paid Holidays

Educational Reimbursement

Job summary

First City Credit Union in California is seeking a Consumer Loan Processor I to handle a high volume of loan applications via online, phone, and branch channels, and to review income and collateral documentation.

You will use credit scoring and lending guidelines to make informed decisions, prepare documents for funding, and coordinate with branches and members to support lending.

This role emphasizes adherence to service level agreements and opportunities to promote additional products.

Qualifications

• High school diploma, GED, or equivalent.
• Minimum two years' experience as a loan processor or originator in a computerized environment.
• Working knowledge of consumer lending concepts, regulations and practices.
• Ability to collect and analyze income documentation.
• Ability to read, decipher and discuss credit report data and codes.
• Promote and cross-sell additional products and services.
• Basic math, 10-key and PC skills.
• Excellent critical thinking skills.

Responsibilities

• Handle a high volume of loan applications through online, phone, and branch channels.
• Review applications and request documentation to verify income and collateral.
• Evaluate applicant eligibility and collateral.
• Use credit scoring and analysis to make lending decisions per Lending Guidelines.
• Prepare loan for document preparation and funding with accurate forms.
• Collaborate with branches, departments, and members to support lending.
• Explain denial reasons and guidance to improve chances.
• Adhere to SLA in Consumer Lending (timeliness of processing, follow up, decisions, funding).

Skills

Data analysis

Credit report interpretation

Cross-selling

Numerical skills/10-key

Critical thinking

Communication

Education

High school diploma or GED

Job description

The Consumer Loan Processor I will assume, but not be limited to, the following responsibilities:

• Ability to handle a high volume of loan applications submitted via various channels such as online, by phone and or at a branch.
• Reviews application and request documentation to verify income and collateral, such as pay stubs and tax returns, and evaluates the eligibility of the applicant(s) and or collateral.
• Identifies the financial needs of the applicant and works to empower their financial wellness via advice and advocacy by providing information on the products and services that can meet those needs.
• Uses credit scoring and credit analysis in line with the Consumer Lending Guidelines, as well as sound judgment, to make lending decisions that are in the best interest of the member and the credit union.
• Prepares the loan for document preparation and funding, ensuring that all the documents and terms are accurate, and that the forms (including the DMV paperwork) are completed and signed correctly with minimal errors.
• Collaborates with branches, internal departments, and members to support the lending efforts of the credit union.
• In case of a loan denial, explain the reasons to the members and provide guidance on how to improve their opportunity for an approval.
• Responsible for adherence to the established SLA's (Service Level Agreements) within the Consumer Lending Department. Which include but is not limited to measuring the timeliness of application processing, follow up, decision and funding times.

The successful candidate will possess the following education, knowledge and skillsets:

• High school diploma, GED, or equivalent
• Minimum two years' experience as a loan processor or originator, working in a computerized environment.
• Working Knowledge of consumer lending concepts, regulations and practices.
• Ability to effectively collect and analyze data, including income documentation.
• Demonstrated ability to read, decipher and discuss credit report data and codes.
• Demonstrated ability to promote and cross-sell additional products and services.
• Basic math, personal Computer and 10-key skill.
• Excellent critical thinking skills.

We provide competitive compensation and benefits package that includes:

• Medical, dental, and vision insurance
• Life insurance
• 401k Retirement Plan (matching contribution=5%, immediate vesting)
• Paid Time Off (PTO)
• Paid Holidays
• Educational Reimbursement

"Actual compensation is determined based on experience, education, skills, internal equity, and other job-related factors."

EOE