Home Equity Loan Processor

Job Title

This position is responsible for performing follow-up with loan applications submitted online or through a Branch in order to complete their loan request and deepen their relationship with the cooperative.

This position must have extensive knowledge of policies and procedures related to Home Equity and their subsequent documents, and be able to work the entire loan process, from origination to funding.

Essential Duties and Responsibilities:

• Act as first point of contact and follow up with members applying online or through the Contact Center throughout the loan process from application to funding.
• Ensure that all information and risk ratios submitted by loan underwriters and originators is accurate and meets all lending policy, lending guidelines and procedure requirements.
• Responsible for maintaining extensive knowledge and communicating lending policy and guideline violations to the originators and underwriters and communicate necessary corrections needed to proceed with loan closing/funding.
• Remain current on Regulation Z and Regulation B, as they pertain to Home Equities.
• Process all Home Equity loans for all AFCU service centers and route to appropriate branch for closing.
• Full decision making authority to determine if a loan meets the required loan standards necessary to complete processing. Ensuring loan stipulations made by underwriters are met and provide support to originators by conferring with underwriters of appropriate authority to resolve loan application problems resulting in closed and funded loans.
• Cross-sell financial products and services appropriate to each member's personal financial needs, including but- not limited to; referring to Insurance CUSO, GAP coverage, extended warranty coverage, debt protection, new account products, refinances, credit cards and all share loan type products. Processing requested services by opening applications or referring and issuing contracts and/or cancellations as necessary.
• Read and interpret credit reports and compile required information for completion of loans through member interviews, credit union records, credit reports and other sources necessary.
• Order appropriate products required to complete the application process including; appraisals, photo market and condition report, flood determinations, and title reports from third party vendor site.
• Create, maintain and manage the tracking spreadsheets on outstanding loans to ensure efficient and timely follow up.
• Interact with members via telephone, email, fax or mail to obtain documentation, stipulations and/or additional information needed to complete loan requests.
• Discuss, verify, and relay information to applicants and originators regarding documentation including but not limited to appraisals; photo market condition reports, flood searches, warranty deed's, insurance, and title reports.
• Interact with appraisers, county clerk's office, and other third party vendors to obtain documentation, stipulations and/or information needed to complete member's loan request.
• Notate loan applications in detail with status updates to foster easy reference for team members to relay information to members, insurance companies, county offices, financial institutions, and any other applicable third party vendors to obtain necessary information and/or documents for loan applications.
• Provide members and team members with current, accurate information and guidance concerning loan products, loan policies, interest rates, and repayment terms, acceptable types of collateral as well as credit history and denials.
• Perform non-cash account transactions and other maintenance as needed on member accounts.
• Responsible for performing necessary field maintenance including; adding in origination cost, homeowner's insurance information, flood zone class, and collateral information in the core system on funded loans.
• Review, analyze and prepare completed and contracted applications to ensure completeness and accuracy before processing for booking and funding. This includes verifying rates, stipulations, title reports, warranty deeds, and collateral valuations.
• Responsible for reviewing and delivering the FACTA disclosures to members prior to signing of a loan to comply with Risk Based Pricing regulations. Schedule Service Center closings and Mail closing documents to members. Upon return receipt, ensure accuracy of documents and adherence to stipulations.
• Ensure that all required documents have been received and signed before the loan is booked initial funds advanced and checks are disbursed, as well as payoff letters sent where applicable. If any violations exist, Agents must take necessary steps to obtain needed information and/or documentation from appropriate personnel involved. Review each loan packet after booking to ensure exceptions are minimal. Overseen by the Board of Directors.
• Preparing Mortgage Deed, disbursing a check, and mailing to appropriate county for recording in a timely fashion.
• Research, write and update procedures as they pertain to Agents. Identify potential problems with loan applications and assist applicants in arriving at workable solutions prior to processing. Contribute to and work special promotions activities and loan specials as needed. Meet and maintain department performance metrics as measured through loan productivity and sales.
• Work individually or in a group on projects as assigned. Ability to effectively and efficiently manage continuously changing priorities. Maintain and contributes to a positive and productive work environment. Establish and maintain and effective working relationship with other departments and individuals within the credit union. Safeguard members and organizational information by maintaining total confidentiality.
• Perform any other related duties as required or assigned.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty mentioned satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Education and Experience:

High school or GED, plus specialized schooling and/or on the job education in a specific skill area; e.g. data processing, clerical/administrative, equipment operation, etc, plus 12 to 18 months related experience and/or training, or equivalent combination of education and experience.

EEO Statement

Arkansas Federal Credit Union is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, gender, gender identity, sexual orientation, age, status as a protected veteran, among other things, or status as a qualified individual with disability.