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VP
Vantage Point Federal Credit Union
Loan Officer
Career Insights for Credit / Loan Counselor
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Based on Virginia data
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What they do
A Credit or Loan Counselor advises and educates individuals or organizations on acquiring and managing debt or qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions. May help develop debt management or credit issue plans. Can provide budget, mortgage or bankruptcy counseling.
$46,862 / year median in Virginia
-9% projected decline
Job Description
Job Overview We are seeking a knowledgeable and customer-focused Loan Officer to join our financial services team. The ideal candidate will have a strong background in lending, loan origination, and processing, with a solid understanding of banking regulations and compliance standards such as TILA. This role involves guiding clients through the loan process, assessing creditworthiness, and ensuring a smooth experience from application to closing. The Loan Officer will play a vital role in expanding our client base by providing exceptional service and expert advice on various loan products. Duties Evaluate loan applications by analyzing financial information, credit reports, and supporting documentation. Assist clients in selecting appropriate loan options based on their financial situation and goals. Conduct thorough credit analysis and underwriting to determine loan eligibility. Prepare and review contracts, disclosures, and other legal documents in compliance with TILA and other regulations. Use loan servicing platforms and accounting tools to process loans efficiently. Negotiate terms with clients while adhering to regulations and company policies. Coordinate with underwriters, and others to facilitate timely loan approvals. Provide excellent customer service by addressing client inquiries promptly and professionally throughout the loan process. Ensure all documentation complies with federal and state lending laws and regulations. Experience Prior experience as a Loan Officer or in mortgage origination/processing is highly preferred. Strong background in financial sales, negotiation, and customer service within the banking or credit union. Proficiency in financial software, accounting software, and 10-key typing skills for data entry. Knowledge of TILA compliance requirements, credit analysis techniques, and basic math skills necessary for accurate calculations. Experience with loan underwriting processes, credit analysis, and handling various types of loans including residential mortgages is advantageous. This position offers an opportunity to work within a dynamic team dedicated to providing exceptional financial solutions while advancing your career in the credit union industry.