Loan Processor in Iron Mountain, Michigan at Forward Financial Credit Union

Revised: August 2024

LOAN PROCESSOR

Reports to Vice President of Lending

SUMMARY OF PRIMARY FUNCTION

Processes loan applications, completes documents to close the members’ file; files proper documents; handles other loan processes as requested by supervisor. Assists members in opening and closing accounts, share certificates, IRA’s and other specific deposit accounts, sets up and maintains insurance and tax ticklers.

RESPONSIBILITIES/DUTIES

1. Cross-sells credit union products, proactively seeking opportunities to fill member needs with credit union products and provide information on these products to the member.

2. To maintain working knowledge of all credit union products, rates, and procedures.

3. To produce loan documents, reports, and new accounts in a timely fashion to meet member’s needs.

4. Prepares for and, if instructed, conducts closings. For applications, reviews data to verify that applications are complete and meet credit union standards. Calls specified companies to obtain title insurance, surveys, appraisals, etc., if required. At closings, reviews the loan documents with borrowers, explaining the terms and conditions of the loan and obtaining the necessary signatures on all required documents. Obtains loan related insurance products and policies.

5. To close, organize and complete member loan files within 48 hours of closings.

6. Performs maintenance changes for open-ended loan payments; sets up overdraft protection checking accounts.

7. Prepares and mails approval and denial letters to applicants.

8. Performs loan pay-off procedures. Drafts satisfactions of mortgages, secures necessary signatures and files with proper filing authority. Maintains file on those items.

9. Stays current with relevant loan compliance issues and ensures the compliance of non-loan activities.

10. Opens and closes loan accounts, share certificates, IRAs, and other specific deposit accounts.

11. WDOT Licenses Plate procedures and reports.

12. Maintains tickler system for insurance and tax records.

13. Understands his/her role in the event of robbery and knows proper post robbery procedures.

14. Maintains orderly work area and professional personal appearance and manner.

15. Backup - answering phone and teller line.

16. Maintain the confidentiality of member, employee, and credit union information.

17. Perform other duties as directed and assists others to complete tasks and work assignments.

18. May be needed to assist and work teller duties.

19. Work must be performed on site not remotely.

PHYSICAL DEMANDS:

While performing the duties of the job, the employee is regularly required to sit; use hands to finger, handle or feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee frequently is required to walk. The employee is occasionally required to stand and stoop. The employee is occasionally required to lift and carry objects weighing over 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, depth perception and the ability to adjust focus.

WORK ENVIRONMENT: The noise level of the work environment is usually moderate.