SUMMARY DESCRIPTION:

The Loan Processor is responsible for the day-to-day processing and closing of home equity loans. The Loan Processor may be cross-trained to underwrite home equity lines of credit (HELOCs) and second-lien loans and recommend approvals, denials, or counter offers to the underwriter for final decisions in accordance with Credit Union policies and procedures and applicable state and federal laws and regulations.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Evaluates applicants’ creditworthiness and collects all necessary documents for underwriting approval.
Processes home equity lines of credit (HELOCs) and closed-end second-lien loans from application through closing, tracks outstanding conditions, and coordinates with members, underwriters, and closing partners to complete loan files.
Orders and reviews title reports, property valuations, flood determinations, and required insurance documentation; verifies property ownership, existing liens, and lien priority; and escalates discrepancies to the underwriter.
Calculates debt-to-income ratios and evaluates income for all types of self-employed borrowers.
Obtains mortgage balances and payoff information, calculates loan-to-value and combined loan-to-value ratios, and documents collateral information for underwriting review in accordance with Credit Union policies.
Prepares and delivers applicable home equity and second-lien disclosures and closing documents within required timeframes, verifies that underwriting conditions are satisfied, and coordinates signing and any applicable right-of-rescission period before disbursement.
Coordinates approved loan funding, payoffs, and recording of security instruments; follows up on recorded documents and lien releases; and confirms that completed files are accurate and ready for servicing.
Communicates underwriting decisions effectively, both verbally and in writing, to Credit Union teams and, when necessary, to members.
Creates and delivers accurate loan processing reports within required timeframes and participates in special projects and audits.
Assists with staff training and communicates updates and reminders regarding lending policies and procedures.
Supports the Credit Union’s sales and service philosophy.
Participates in continuing education and maintains current knowledge of applicable lending laws, rules, and regulations.
Completes all required Credit Union training, including Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC), anti-money laundering (AML), and other assigned education.
Provides prompt, accurate, and professional service to internal teams and Credit Union members.
Attends meetings and training sessions as directed.
Develops and maintains an understanding of the Credit Union’s history, mission, and service philosophy.
Maintains appropriate working knowledge of applicable Bank Secrecy Act (BSA), anti-money laundering (AML), Office of Foreign Assets Control (OFAC), and Currency Transaction Reporting (CTR) requirements, including relevant regulatory updates and changes.
Other duties, responsibilities, and activities may be assigned.

OTHER DUTIES:

Other duties as assigned.

SUPERVISORY RESPONSIBILITIES:

This job has no supervisory responsibilities.

COMPETENCIES:

To perform the job successfully, the individual should demonstrate the following competencies:

Leadership and Accountability – Demonstrates sound judgment, ownership, professionalism, and the ability to lead by example.
Lending Knowledge – Applies strong knowledge of loan products, underwriting, credit quality, loan servicing, documentation, and lending compliance.
Member Focus – Promotes timely, accurate, respectful, and solution-oriented service for members and internal partners.
Operational Excellence – Identifies opportunities to improve processes, reduce risk, strengthen controls, and enhance efficiency.
Communication – Communicates clearly and professionally with executives, managers, staff, vendors, auditors, examiners, and members.
Collaboration – Builds strong working relationships across departments and supports shared organizational goals.
Compliance and Risk Awareness – Understands regulatory expectations, internal controls, audit readiness, and the importance of consistent documentation.

EDUCATION AND EXPERIENCE:

The Loan Processor must demonstrate excellent communications, problem-solving, negotiation, and advanced computer skills. Strong organizational skills are required to assess and manage the loan pipeline effectively. The Loan Processor must also be able to manage multiple priorities and adapt to continuous change and process improvement.

A high school diploma or equivalent and at least three years of related experience or training are required. An equivalent combination of education and experience may be considered.
Minimum of two years of home equity processing is required.
Highly organized with the ability to work independently.
Prior experience underwriting HELOCs and second liens is a plus but not required.
Working knowledge of mortgage lending, credit analysis, collateral, loan documentation, lending regulations, and risk management practices.
Ability to review, analyze and interpret credit reports, loan documents, financial information, procedures, exception reports, audit findings, and regulatory guidance.
Ability to exercise sound judgment, maintain confidentiality, manage competing priorities, meet deadlines, resolve routine issues, and appropriately escalate material concerns.

OTHER SKILLS AND ABILITIES:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Language Skills

Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence.

Mathematical Skills

Ability to perform arithmetic using whole numbers, fractions, and decimals; calculate rates, ratios, percentages, and debt-to-income ratios; and interpret financial data.

Reasoning Ability

Ability to apply common-sense understanding to carry out instructions provided in written, oral, or diagram form. Ability to address problems involving several concrete variables in standardized situations.

Computer Skills

Proficiency with Microsoft 365 applications, including Teams, is required.

PHYSICAL DEMANDS:

While performing the duties of this job, the employee is regularly required to sit, stand, walk, use hands and fingers, reach with hands and arms, talk, and hear. The employee may occasionally lift and/or move up to 25 pounds. Specific vision abilities include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

WORK ENVIRONMENT:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job.

While performing the duties of this job, the employee is occasionally exposed to moving mechanical parts. The noise level in the work environment is usually moderate.