What are the responsibilities and job description for the Indirect Loan Processor I (On-Site) - Kendall position at EdFed?
Job Summary:
The Indirect Loan Processor I is responsible for processing and funding indirect auto loan contracts while ensuring accuracy, compliance, and timely service to dealership partners. This role reviews and audits dealer-submitted loan packages, verifies required documentation and stipulations, and collaborates with underwriters to finalize approved loan applications for funding. The position serves as a primary liaison to dealerships, handling inbound and outbound communication to resolve documentation issues, provide status updates, and ensure lien perfection requirements are met. Additionally, the processor monitors indirect lending queues, performs quality assurance on loan documentation, maintains knowledge of departmental policies and procedures, and supports efficient loan booking and dealer service operations.
Duties include:
- Serve as the primary liaison with indirect auto dealerships, handling inbound and outbound communication regarding loan status, documentation requirements, funding timelines, and ACH processing.
- Review and audit dealer-submitted loan packages to ensure accuracy, completeness, and compliance with credit union policies, underwriting guidelines, and regulatory requirements prior to funding.
- Collaborate with underwriters to review indirect loan applications and ensure all required stipulations are satisfied prior to funding.
- Collect, review, and verify required documentation including pay stubs, buyer’s orders, vehicle registration, proof of insurance, and other supporting materials needed to finalize loan applications.
- Monitor and manage indirect lending queues to ensure timely follow-up, efficient processing, and a high level of service to dealership partners.
- Process and initiate funding for approved dealer loan contracts in accordance with credit union lending authority, policies, and procedures.
- Ensure all loan documentation is accurate and complete to properly perfect the Credit Union’s lien, and work directly with dealerships to resolve missing or incorrect information.
- Perform quality assurance reviews of loan documentation to verify accuracy, completeness, and compliance with policies, procedures, and regulatory requirements.
- Maintain working knowledge of credit union lending policies, procedures, and regulatory requirements related to indirect lending.
- Perform other duties and responsibilities as assigned by management.
Job Type: Full-Time
The following are some benefits offered to employees of EdFed:
- Paid Birthday
- Paid Holidays
- Paid Sick and Personal Time
- Paid Vacation
- Tuition Reimbursement
- 401K (with matching funds) and CU contributions