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Form of workJob Description
JOB DESCRIPTION
Job Title: LOAN ASSOCIATE
Status: Non-Exempt
Reports to: Loan Manager
Department: Lending
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SUMMARY:
Island’s Loan Associate will undergo an extensive training program to learn all the duties and responsibilities of a Loan Officer working in the centralized lending area within a 12-month timeframe.
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ESSENTIAL DUTIES AND RESPONSIBILITIES:
During the extensive training program, the employee will learn and become proficient in the following areas:
» Island’s official Lending Policy.
» Departmental procedures.
» Processing, underwriting, preparing, and funding all HELOC and Fixed Rate Home Equity Loan Documentation.
» Home Equity Loan documentation for the branches.
» Evaluating & Reviewing mortgage products and the qualification process, rates, payments, etc. determining applicant’s ability to quality, estimate closing costs and cash requirements. Follow progress until the mortgage is closed. Interact extensively with member, attorney, and associated agencies.
» Proficient in utilizing BytePro, FICS and Desktop Underwriter.
» Analyzing credit reports and requesting all pertinent loan paperwork.
» XP Systems Lending Platform.
» AppTrack indirect lending originations software. Process, underwrite, prepare, and fund all indirect lending.
» Establish membership.
» All loan related reports handled in centralized lending area.
» Reviewing all loan paperwork received from branches and compliance with the Official Lending Policy, procedures and regulatory requirements.
» Cross selling all credit union products and services.
» Communicating with branches and members to satisfy all their inquiries regarding loan services and products.
» Issue Adverse Action Notices
» Performing all other loan-related duties as assigned.
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KNOWLEDGE, SKILLS, AND ABILITIES:
1. Knowledge of all relevant rules, procedures, and guidelines, and regulations related to lending including Fannie Mae underwriting and servicing guidelines.
2. Knowledge of HMDA.
3. Knowledge of all credit union products and services.
4. Possess general knowledge of BSA rules and regulations. Complete BSA Training.
5. Obtain Nationwide Mortgage License (NMLS).
6. Knowledge of and skill in using computer software, including MS Word and Excel.
7. Ability to write, type and operate standard office equipment and tools, such as personal computer, postage machine, fax machine, telephones, photocopier, typewriter.
8. Ability to prioritize, pay close attention to detail, and coordinate various activities simultaneously.
9. Ability to communicate with members, co-workers, management, and business contacts in a courteous and professional manner.
10. Ability to work with minimal supervision.
11. Ability to maintain strict confidentiality of all member information.
12. Notary Public
13. Ability to see well enough to read reports and use computer.
14. Ability to hear well enough to communicate on the phone.
15. Ability to sit, stand, walk, bend, lift, push, pull and carry. Lifting/Pulling/Carrying may incur up to 30-50 pounds on an occasional basis.
16. Driving may be required for occasional travel between Island Federal’s branches.
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EDUCATION AND EXPERIENCE:
Associate degree or equivalent experience preferred. One to two years experience working with financial matters. Necessary math and excellent communication skills required.
