Consumer Loan Processor I

Overview

Processes loan applications by verifying and evaluating information provided on Consumer Loan applications; researching and gathering supporting data and documentation; and providing administrative support to the loan processing function.

Responsibilities

• Ensures loan applications are complete and in compliance with Federal and NCUA laws, regulations and Navy Federal policies and procedures
• Reviews member loan applications to evaluate completeness and determine additional information and/or supporting documentation required
• Contacts member for further clarification and to acquire additional details; verifies employment, reference, credit, and payoff information; and conducts re-interviews of members to obtain additional information requested by the Lending Committee
• Counsels members regarding appropriate loan options, loan status, and Navy Federal policies and procedures; maintains confidentiality of member information
• Verifies loan applicants' employment data via telephone, email or facsimile (fax) with employers, human resources departments, supervisors and other third parties
• Reviews and responds to inquiries from members, Branches, Consumer Loan Servicing, Contact Center and Correspondence regarding credit decisions, additional information needed, lending policies and practices and collateral requirements
• Determines collateral required to secure loans, appropriate interest rates, loan repayment terms and purpose codes
• Transcribes Consumer Loan application requests into automated loan processing systems; updates member demographic information; and forwards information to the appropriate area for action
• Submits loan cancellations via online oral communication system to initiate action
• Remains alert to situations that may indicate possible fraud
• Forwards completed documentation to Image Section for processing into the electronic member record
• Provides administrative support to the section and Lending Committee to facilitate loan application processing
• Receives online requests to contact members/third parties regarding checks received from dealers and requests to drop/waive automobile insurance
• Enters subsequent changes in the original loan status (i.e., resubmitted loan applications and appeals) into the online loan system
• Forwards information to appropriate loan personnel for decision
• Monitors specific queues in the loan system, extra fax database, and various other databases to review pending items and perform necessary actions
• Reviews, analyzes, and returns drafts via the Draft Processing System
• Sorts and distributes incoming mail/faxes
• Forwards correspondence to loan officers for Lending Committee action
• Obtains, assembles and researches Consumer Loan information
• Typically receives some guidance and/or instruction from Consumer Loan Processor II
• Performs other related duties as assigned

Qualifications

• Familiarity with consumer lending principles, policies and financial practices
• Familiarity with information contained in a credit bureau report, Fair Credit Reporting Act and credit lending policies
• Basic skill examining and interpreting information quickly and accurately
• Basic skill following, interpreting and applying relevant data/instructions to guidelines, procedures, practices and regulations
• Basic skill interacting with staff, management, vendors and members diplomatically and tactfully
• Basic verbal and written communication skills

Hours: Sunday - Thursday, 2:00PM - 10:30PM

Location: 820 Follin Lane, Vienna, VA 22180

About Us

You have goals, dreams, hobbies, and things you're passionate about—what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them—friends, family, and passions. And we're looking for team members who are passionate about our mission—making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:

• 
  Military Times 2022 Best for Vets Employers

• 
  WayUp Top 100 Internship Programs

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  Forbes® 2022 The Best Employers for New Grads

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  Fortune Best Workplaces for Women

• 
  Fortune 100 Best Companies to Work For®

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  Computerworld® Best Places to Work in IT

• 
  Ripplematch Campus Forward Award - Excellence in Early Career Hiring

• 
  Fortune Best Place to Work for Financial and Insurance Services

Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.