Digital Loan Officer I

Job Type: Full-Time- Remote- Spanish preferred

Exemption Type: Non-Exempt

Wage Amount: $20.99 Hourly Minimum

Primary Functions

The primary purpose of this position is to provide comprehensive consumer loan application services through various digital lending channels, including phone, online, Video Lending, and live chat.

Key Responsibilities:

1. Consumer Loan Application Services

   • Conduct consultative loan interviews.
   • Identify cross-help loan opportunities.
   • Manage an application pipeline.
   • Process and remotely close and fund consumer vehicle and personal loans.
   • Provide outstanding service to internal team members.
   • Ensure compliance with legal requirements, lending regulations, and internal policies and procedures.

2. Member Service (Consumer/Mortgage via Phone and Digital Channels)

   • Answer inbound phone and Video Lending calls, conduct thorough consultative loan interviews, and complete loan applications for consumer loan products, including vehicle, personal, and home equity products.
   • Assist members and non-members with consumer loan-related inquiries through live chat.
   • Review and explain program options, benefits, fees, standard qualifications, and documentation needs for consumer and home equity loan products.
   • Explain loan terms and compare scenarios including loan amounts, rates, payments, and fees.
   • Communicate loan decisions to members, including explaining denial reasons and providing resources for financial/credit assistance as applicable.
   • Review credit reports, member relationships, and transaction histories during each consultation to identify additional cross-help and loan savings opportunities.
   • Prepare and send initial home equity disclosure packages to borrowers within timelines as established by regulatory requirements.
   • Structure, present, and pull through cross-help loan opportunities with applicants.
   • Serve as primary point of contact with borrowers and maintain relationships through funding.
   • Submit complete and thorough loan applications to underwriting, and work with underwriters on loan structure changes, vehicle valuations, and second reviews of documents.
   • Explain loan counteroffers and approvals to members and discuss loan stipulations, credit union guidelines, and documents needed to proceed with loan requests.
   • Process approved consumer loan applications, ensure all stipulations are met, communicate with third parties such as dealers and lien holders as needed to collect processing information, collect and verify supporting documentation, and work up applications for funding.
   • Verify validity of applicants and documents submitted to prevent fraud.
   • Generate closing documents for direct consumer loans, complete remote loan closings with borrowers (DocuSign or Video Lending), and fund and disburse loan proceeds.
   • Complete post-funding tasks, including preparation of vehicle title work packets and imaging of loan documents.

3. Department Support

   • Manage application pipeline, follow up regularly on approved not funded applications, and maintain records of all contacts.
   • Resolve audit exceptions within a timely manner.
   • Work with Retail Support to coordinate account openings for non-member applicants.
   • Assist other credit union departments with lending needs and serve as a subject matter expert for consumer loan products, applications, and questions.
   • Support outbound calling campaigns for consumer loan initiatives.

4. Miscellaneous Duties

   • Consistently meet or exceed established Level I minimum expectations.
   • Maintain job level knowledge by attending assigned trainings and reviewing procedures to perform all duties required of the position.
   • Proactively work towards advanced knowledge of consumer lending products, policies/procedures, and guidelines, as well as lending principles including credit scores, ability to repay, and underwriting ratios.
   • Complete annual regulatory training as assigned.
   • Conduct individual dialogs with immediate supervisor, minimum quarterly.
   • Perform other duties as assigned.

Education and Experience

• High school diploma or GED equivalent required.
• Bachelor’s degree preferred.
• Two years financial institution or sales experience required.
• One year consumer and/or home equity lending experience preferred.

Knowledge, Skills & Abilities

• Strong knowledge of consumer vehicle and personal loan products, guidelines, procedures, policies, and laws.
• Working knowledge of home equity lending products, programs, disclosures, and federal & state regulatory requirements.
• Excellent written and verbal communication skills.
• High level of professionalism, diplomacy, courtesy, and tact.
• Comprehensive math skills, and excellent computer skills including MS Office suite experience.
• Ability to work independently and as part of a team, with flexibility to adapt to change.
• Problem-solving skills, ability to research and interpret as well as manage conflict.
• Working knowledge of Symitar Quest including posting transactions, TX DMV, TPWD Ownership Inquiry, FedEx, JD Power, DPS, and IQQ websites.

Certifications/Registrations

This position requires registration as a Mortgage Loan Originator (MLO) with the Nationwide Mortgage Licensing System (NMLS) and Registry on an annual basis in addition to maintaining updates as needed. Initial registration is required immediately upon hire into this position. Failure to register or maintain a current registry, or any criminal activity that would bar continued participation as an MLO may result in disciplinary action, up to and including termination of employment.

Physical Functions

• Must have the ability/stamina to work at least 40 hours a week.
• Will frequently reach, feel, bend, stoop, carry, finely manipulate, and key in data.
• Must be able to engage in problem-solving skills to help identify and solve potential issues in the field.
• Must be able to communicate continuously through telephone, e-mail, and in-person communications.