Loan Processor at Island's Federal Credit Union
Island's Federal Credit Union · Hauppauge, United States Of America · Onsite
- Junior
- Office in Hauppauge
JOB DESCRIPTION
LOAN PROCESSOR
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SUMMARY:
Responsible for the processing of all Consumer, Indirect, Home Equity Line of Credits and Home Equity Loans while ensuring adherence to all Credit Union policies, procedures and regulatory guidelines.
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ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Processing and document preparation of Home Equity Line of Credits, Fixed Rate Home Loans, Consumer Loans and Indirect Auto Loans.
- Efficiently utilize systems such as DecisionLender4, and other relevant software to support underwriting operations.
- Validate accuracy of Debt-to-Income (DTI) and Loan-to-Value (LTV) ratios, ensuring compliance with all applicable policies and procedures.
- Verify that all approved or denied loan applications include the required signatures.
- Ensure strict adherence to Credit Union policies, internal procedures, and all relevant regulatory guidelines.
- Monitor loan files and borrower information for inconsistencies or red flags, actively identifying, reporting, and mitigating potential fraud in accordance with regulatory and internal guidelines.
- Monitor and meet all Departmental performance reporting and service goals.
- Interact with all necessary third-party vendors, Members, and Team Members.
- Provide data and reporting required to meet HMDA reporting requirements.
- Propose Lending Policy and procedural changes to the Team Lead and Centralized Lending Manager as required to enhance operational efficiencies and productivity or to meet regulatory or compliance mandates.
- Cross-sell credit union products and services, including deposit accounts and loan products, to meet Members’ financial needs and enhance their overall financial well-being.
- Work at various branch locations as required.
- Other duties as assigned.
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REQUIREMENTS:
- High School diploma or a combination of education and experience.
- 1 year working in a financial institution, preferably in a Credit Union setting.
- NMLS
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COMPENTENCIES:
- Knowledge of consumer and real estate underwriting practices
- Knowledge of Island’s products and services
- Excellent written and oral communication skills
- Excellent organizational skills
- Ability to prioritize, pay close attention to detail, and coordinate various activities simultaneously.
- Ability to communicate with co-workers, management, and business contacts in a courteous and professional manner.
