Consumer Loan Processor
Mass Bay Credit Union
- Boston, MA
- $19.45-26.57 per hour
- Permanent
- Full-time
- Ensures that all members and potential members feel welcomed to the Credit Union and are supported professionally in the process.
- Requests and reviews all required information and documentation to secure a consumer loan and researches discrepancies.
- Interviews and originates potential consumer loan applicants for approval and/or denial.
- Answers questions for members throughout the process. Explains the loan process to include loan options, insurance required on Credit Union loan products, loan policies, interest rates, payoffs, etc.
- Prepares credit investigation and verification for related applications.
- Verifies contents and completion of approved loan folders and inputs on the computer system.
- Maintains a filling system and procedures to monitor that the required documentation is received in a timely manner and maintained appropriately and according to policies and procedures.
- Closes approved loans; completes all necessary loan documents to close the file; and prepares payroll designation and all other related documents to bring to completion.
- Processes daily mail payments for consumer loans, when assigned.
- Informs members of Credit Union products and services, explaining features and benefits; cross-sells products and services when appropriate and within scope of responsibility.
- Functions as needed to positions within the Loan Origination/Servicing Department as required.
- Cross-trains and performs all positions within the Loan Department.
- Responsible to maintain and control lending file folders.
- Coordinates documentation and maintains up-to-date files.
- Provides backup support for Lending Reception desk and related department mailings.
- Attends training sessions upon request.
- Adheres to the anti-money laundering policy and the Bank Secrecy laws.
- Assumes other duties as new products, services, or technology are introduced.
- Position requires general knowledge of all Credit Union products and services as well as credit procedures.
- Requires education equivalent to a four-year high school education. Proficiency with computer software applications including Word and system applications is required.
- Position requires two years of experience in a bank, Credit Union, or mortgage company.
- Position requires the ability to read and understand oral and written instructions. Requires the ability to effectively communicate with members or employees and to solve day-to-day problems involving several variables in standard situations.
- Intermediate mathematical skill required (adding, subtracting, multiplying, dividing, percentages, interest).