Loan Processor
$38,854–$58,282 year
On-siteElgin, Illinois, United States
Elgin, Illinois, United StatesOn-siteFull Time$38,854–$58,282 yearSenior LevelHigh School Or EquivalentMedium
Full TimeSenior LevelHigh School Or EquivalentMedium
Job Summary
Process loan applications, prepare documentation, and book loans upon approval by a certified loan officer. Maintain and follow up on all loan documentation, complete new loan and account setups, and assist with title follow-up and scanning. Work closely with lending staff to maximize turnaround time, handle member telephone inquiries, and resolve member problems by researching records. Sell credit union products related to loans and maintain acceptable service levels while ensuring compliance with federal, state, and credit union policies. Submit completed loans for audit and provide member service.
Required Qualifications
- Minimum high school diploma or its equivalency
- one-year experience in an office environment
- customer service experience
- experience in loan processing in a credit union
- experience in a related business
- excellent interpersonal skills
- telephone skills
- excellent judgment
- reasoning skills
- math skills
- grammar skills
- spelling skills
- computer skills
- ability to multi-task
- attention to detail
- high level of communication skills
- ability to work independently
- ability to work in a team setting
- knowledge of Federal Credit Union Act (FCUA)
- knowledge of NCUA Rules and Regulations (12 CFR Chapter VII)
- knowledge of 12 CFR Part 701 – Organization and Operation of Federal Credit Unions
- knowledge of 12 CFR § 701.21 – Loans to Members and Lines of Credit to Members
- knowledge of 12 CFR § 701.31 – Nondiscrimination Requirements
- knowledge of 12 CFR Part 707 – Truth in Savings
- knowledge of 12 CFR Part 716 – Privacy of Consumer Financial Information
- knowledge of 12 CFR Part 717 – Fair Credit Reporting
- knowledge of 12 CFR Part 722 – Appraisals
- knowledge of Truth in Lending Act (TILA), Regulation Z
- knowledge of Equal Credit Opportunity Act (ECOA), Regulation B
- knowledge of Fair Credit Reporting Act (FCRA), Regulation V
- knowledge of Fair and Accurate Credit Transactions Act (FACTA)
- knowledge of Fair Housing Act (FHA)
- knowledge of Real Estate Settlement Procedures Act (RESPA), Regulation X
- knowledge of Home Mortgage Disclosure Act (HMDA), Regulation C
- knowledge of Electronic Fund Transfer Act (EFTA), Regulation E
- knowledge of Electronic Signatures in Global and National Commerce Act (E-SIGN Act)
- knowledge of Gramm-Leach-Bliley Act (GLBA), Regulation P
- knowledge of Consumer Financial Protection Act (CFPA)
- knowledge of Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) Requirements
- knowledge of Fair Debt Collection Practices Act (FDCPA)
- knowledge of Military Lending Act (MLA)
- knowledge of Servicemembers Civil Relief Act (SCRA)
- knowledge of Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act), Regulation G
- knowledge of Bank Secrecy Act (BSA)
- knowledge of USA PATRIOT Act
- knowledge of Office of Foreign Assets Control (OFAC) Regulations
- knowledge of State Credit Union Acts and Regulations
- knowledge of State Consumer Credit and Lending Laws
- knowledge of State Fair Lending Laws
- knowledge of State Privacy and Data Protection Laws
- knowledge of State Electronic Transactions Acts
- knowledge of State Motor Vehicle Title and Lien Perfection Laws
- knowledge of State Retail Installment Sales Acts
- knowledge of State Debt Collection Laws
- knowledge of State Consumer Fraud and Deceptive Practices Acts
- knowledge of State Notary and Electronic Notarization Laws
- knowledge of State Unclaimed Property (Escheatment) Laws
- knowledge of State UCC (Uniform Commercial Code) Secured Transactions Provisions
- knowledge of Applicable Multi-State Mortgage and Consumer Lending Requirements
- knowledge of Credit Union Policies and Procedures
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