Loan Support Specialist
- Full Time - 40 Hours Per Week
- Monday through Friday Availability Required.
Role: Performs administrative and clerical duties to process, document and disperse direct and indirect loans according to credit union policy and regulatory guidelines. Provides administrative support to other departments as it pertains to the loan support function.
Essential Functions & Responsibilities:
- 50% - Processes direct and indirect loans, initiate ACH dealer payments, create accounts and loans for new members generated through the indirect program, perform internal auditing functions to ensure proper completion of loan files and scan all documents into imaging system.
- 15% - Review and prepare mortgage documents to be executed/recorded.
- 10% - Obtain titles and insurance verifications.
- 10% - Monitor and prepare releases and other paperwork for paid off loans.
- 5% - Provide administrative support to other departments as it pertains to the loan support functions.
- 5% - Receive mail related to the lending department and distribute.
- 5% - Prepare and distribute various loan reports.
Performance Measurements:
- Processes direct and indirect loans by verifying new loan information provided by loan officers and gathering and preparing necessary supporting documents.
- Serves as internal auditor for loan files including indirect auto loans, checking for accuracy and completion of loan documents using a loan file checklist.
- Disperse loan proceeds and assist with other lending services as necessary.
- Initiates ACH dealer payments, create accounts and loans for new members generated through the indirect program.
- Provides administrative support to other departments as it pertains to the loan support functions.
- Support the lending function by reviewing and preparing documents for loan closings, verifying liens and names. Also double checking the accuracy of information on documents as compared to system entries.
- Collects and prepares information for use in discussions and meetings related to the loan support function. Prepares or assists in the preparation of assigned reports.
- Reviews and answers phone calls, mail, correspondence and inquiries directed to the loan support department.
- Obtain titles and insurance verification, documents collateral and liens and resolves related problems.
- Prepares and distributes various loan reports, both internal and external.
- Monitors and prepares releases and other paperwork for paid-off loans.
- Processes monthly life and disability billing reports and claims, updates member files and transfers disability payments to member accounts.
- Prepares mortgage documents and ensures they are properly executed and recorded.
- Receives and responds to inquiries from members, dealerships and others regarding direct and indirect loans, using discretion and tact to protect member confidentiality and provide exceptional service.
- Reviews lending related mail and routes or processes ensuring information and documents are properly handled and filed.
- Maintain and assemble all lending files.
- Maintains inventory of lending forms and supplies.
- Maintains lending system, including but not limited to loan rate changes, subsequent action forms, exception items, etc.
- Develop, maintain, and demonstrate a working knowledge of credit union loan standards, policies, procedures, and applicable state and federal government rules and regulations.
- Serve as Notary for credit union related items.
- Scan loan documents into Imaging System as required.
- Serve as a liaison between the credit union's collateral protection company, the Credit Union and the borrower when working with forced placed insurance.
- Assists the collections department with resolution of credit disputes through the use of the E-Oscar system.
- Assist with quoting loan payoffs.
- Serve as a backup to other loan servicing and support staff as needed.
- Participate in training and professional development activities to acquire and maintain standards established by the credit union. This could include attending conferences, seminars and workshops as directed by management.
- Maintain a current understanding of lending regulations including, but not limited to, Bank Secrecy Act, Truth in Lending, Fair Lending, RESPA, HMDA, FCRA and the SAFE Act.
Knowledge, Skills and Abilities:
Experience - One to three years of similar or related experience.
Education - Requires a high school education or GED.
Interpersonal Skills - Work involves much personal contact with others inside and/or outside the organization for purposes of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
Other Skills - Must have good communication skills. Requires intermediate mathematical skills (calculations and concepts involving decimals, percentages, fractions, etc.) Must be able to operate a 10-key calculator, typewriter, and keyboard.
Physical Requirements - Exertion of up to 10 pounds of force occasionally to lift, carry, push, pull or otherwise move objects. Involves sitting most of the time. Walking and standing are required occasionally. Repetitive finger movements to perform typing or otherwise working with paper files and documents. Requires close visual acuity to prepare and analyze data and figures; transcribing; viewing a computer terminal; extensive reading; etc.
Work Environment - Not substantially exposed to adverse environmental conditions. State of Pennsylvania residency required.
Service 1st Federal Credit Union provides equal opportunity without regard to sex, gender identity, sexual orientation, race, color, religious creed, national origin, physical or mental disability, protected veteran status, or any other characteristic protected by applicable law in employment and in our business activities.