Consumer Loan Officer (Specialist level)

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.