The Commercial Loan Processor calculates and processes payoffs, and releases titles and insurance interest. Processes loan payments and applies funds to customer accounts. Being a Commercial Loan Processor responds to customer inquiries and requests for net payoff quotes. Calculates and prepares refunds for customers that submit overpayments. In addition, Commercial Loan Processor may require an associate's degree or its equivalent. Typically reports to a supervisor or manager. Being a Commercial Loan Processor gains or has attained full proficiency in a specific area of discipline. Works under moderate supervision. Working as a Commercial Loan Processor typically requires 1-3 years of related experience. (Copyright 2024 Salary.com)
Description
The primary function of the Loan Processor is to ensure the timely and accurate funding of all loans originated by our loan officers while also performing a variety of support duties related to the lending function within the Credit Union.
Requirements
Duties and Responsibilities:
§ Gather and prepare necessary documents to fund approved loans within set time standards.
§ Examines documents to ensure accuracy and compliance with existing underwriting guidelines and stipulations
§ Prepare and submit documents for new and existing Visa credit cards
§ Prepare and process loan payoffs and Letters of Guarantee
§ Assist members and employees with basic questions regarding lending services.
§ Prepare adverse action and subsequent action forms as needed
§ Cross-sell auxiliary loan products including, but not limited to, GAP, Extended Warranty, Credit Life, and Credit Disability insurance
§ Cross-sell credit union services
§ Assist with Member Services when needed
§ Assist in all other areas as needed
QUALIFICATIONS:
EDUCATION: High School graduate; some secondary education preferable.
OTHER: Good interpersonal skills.
Some Computer skills, (MS Word or Word Perfect, Excel, Outlook).
Organization and problem-solving skills
Time Management skills and the ability to meet deadlines
Positive attitude
CERTIFICATIONS, LICENSES, REGISTRATIONS:
Must be able to obtain Credit Insurance and NMLS licenses.
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