What are the responsibilities and job description for the Indirect Lending Coordinator position at EASTMAN CREDIT UNION?
Eastman Credit Union is now hiring a Indirect Lending Coordinator. The Indirect Lending Coordinator originates and funds quality loans and opens memberships by maintaining strong, healthy relationships with Dealers, Merchants and members, as well as enforce policies, guidelines, procedures, and processes to support profitable Indirect Lending program. Indirect Lending Coordinator must exhibit strong multi-tasking, time management, and organizational skills. Indirect Lending Coordinator should be self-motivated, detail oriented, and exhibit the ability to work independently in a high-volume environment.
Essential Duties and Responsibilities include the following. Other duties may be assigned.
- Handling of applications/loans
- Originate high volume of consumer loan applications submitted by Dealer(s) and Merchants via DealerTrack, RouteOne or LoanStar by monitoring the Indirect Lending Queues in MeridianLink to ensure completeness prior to sending to Central Underwriters for review.
- Scrutinize all loan applications received from Dealers and Merchants/Members for funding, assuring it has met ECU's criteria before buying the loan. Send back to Dealers, Merchants/Members, loan applications that have not met ECU's criteria.
- Prepare and audit loan documents through LoanStar system.
- Audit loan packets for accuracy and completeness to fund loans which are approved by System or Central Underwriters.
- Complete and verify all income documentation to ensure accurate information is entered and is compliant with decisioned information.
- Monitor group email inbox for communication from dealers ie: messages in MeridanLink, income for upfront review, additional documents required for membership and/or funding.
- Monitor Fivision (Instant Open) to ensure new members have a seamless process and assist with missing documentation/information needed to complete account opening.
- Maintain expert knowledge of Consumer Lending and Indirect Lending procedures in the application process.
- Assure ECU retains control of lending process.
- Asset Quality
- Responsible for verifying membership and loan documents are accurate and complete, including member identification, prior to opening new membership and funding loan.
- Ensure sound loan analysis through adherence to established lending practices, policies, and guidelines.
- Audit memberships opened by Indirect Lending staff for early detection of any exceptions.
- Service Excellence
- Must answer extensive number of calls received on Indirect Lending Group Line including calls from dealerships, merchants, members and other ECU staff:
- Discuss credit applications
- Communicate between Underwriters, Dealers and Merchants
- Assist members with loan and membership questions.
- Provide payoffs
- Maintain good working relationship with Dealers and Merchants
- Assist with problem resolution/concerns from Dealers, Merchants and/or members.
- Know and adhere to ECU's Service Excellence
- Must answer extensive number of calls received on Indirect Lending Group Line including calls from dealerships, merchants, members and other ECU staff:
- Compliance
- Maintain strict confidentiality toward member accounts within ECU as well as outside of ECU.
- Review MeridianLink report daily for Indirect Lending and LoanStar to mail Pre-Qualification letters and Adverse Action Notice to meet regulatory requirements on notice.
- Maintain up-to-date knowledge of relevant regulations (including BSA, FCRA, ECOA, CIP, and OFAC).
- Identify and manage risks within the department
- Teamwork and Contribution
- Identify and support self-improvement
- Demonstrate team player qualities.
- Identify process improvement opportunities.
- Volunteer to assist Indirect Lending staff or Dealer/Merchant to obtain ECU required documentation for loan funding (i.e. paystubs or tax returns) whenever possible.
- Assist others within ECU.
- Attend and participate in Team meetings.
- Support ECU's Mission, Vision, Strategic Intent, Values, Policies, Guidelines and Management's decisions and communicate these in a positive manner.
- Serve as a resource to Dealers, Merchants, members, and ECU staff.
- Attendance and Punctuality
- Demonstrate exceptional attendance and punctuality
- Arrive at work and return from lunch/meetings promptly (be at workstation and ready to work at scheduled time).
- Work hours between 7:30am – 6:30pm and alternating Saturday shifts.
- Document overtime, PTO, etc.
- Be flexible when needed during scheduled off time.
- Minimize personal interruptions during work hours.
- Make routine follow up calls to members to verify vehicle options and sales contract terms on a random sampling basis and request feedback on Dealer – Do we need to add caveat this is only for auto/RV dealers
- Complete upload of ACH files for Dealers and Merchants to Web Client each
- Assist with paying Dealer Origination Fees each month for Dealerships only.
- Exhibit strong computer, written and verbal skills.
- Explore ways to decrease expense structure and increase income.