A Loan Documentation Specialist reviews applications for loans and assists with the process of evaluating loans. Prepares, organizes and verifies the documents and reports required for a loan application. Monitors the loan application and approval process and may assist customers with loan payments. May specialize in mortgage, business or other types of loans.
As a Loan Specialist, you will play a critical role in facilitating the loan process for members by evaluating their financial information and determining their eligibility for various loan products. Your primary objective is to guide members through the loan application process, ensuring accuracy, compliance, and timely processing. You will collaborate closely with members and loan officers to deliver tailored lending solutions that meet both member needs and regulatory standards. This role demands a strong understanding of lending policies, risk assessment, and member service excellence to maintain high satisfaction and minimize loan default risks. Ultimately, your work will contribute to the financial well-being of members and the overall success of the lending program at Marine FCU.
Minimum Qualifications:
High school diploma or equivalent. At least 2 years of experience in loan processing, underwriting, or a related financial services role. Strong knowledge of loan products, credit analysis, and lending regulations. Proficiency with loan origination software and standard office productivity tools. Excellent communication and interpersonal skills to effectively interact with members and internal teams.
Preferred Qualifications:
Experience working with diverse loan types including personal, auto, and credit cards. Familiarity with federal and state lending laws, including the Equal Credit Opportunity Act (ECOA) and Truth in Lending Act (TILA). Demonstrated ability to manage multiple loan files simultaneously while maintaining attention to detail.
Responsibilities:
Review and analyze loan applications to assess creditworthiness and eligibility based on established lending criteria. Communicate with members to gather necessary documentation, explain loan options, and provide guidance throughout the application process. Coordinate with underwriting and compliance teams to ensure all loan files meet regulatory and company standards. Prepare and present loan proposals and documentation for approval, ensuring accuracy and completeness. Monitor loan processing timelines and follow up on outstanding items to facilitate prompt loan closings. Maintain detailed records of member interactions, loan decisions, and documentation in compliance with data protection policies. Cross offer additional services to enhance and protect the member's lending product. Stay updated on changes in lending regulations, market trends, and product offerings to provide informed advice to members.
Skills:
The required skills enable the Loan Specialist to accurately evaluate member financial information and determine loan eligibility, ensuring compliance with regulatory standards. Strong communication skills are essential for explaining complex loan terms and guiding members through the application process with clarity and professionalism. Proficiency in loan origination software and data management tools supports efficient processing and documentation of loan applications. Together, these skills ensure the Loan Specialist can deliver high-quality service, maintain regulatory compliance, and contribute to the institution's financial performance.
Rotating Shifts:
Monday-Friday, 8AM-5PM or 9AM-6PM Saturdays, 9AM-2PM. Full time employees are scheduled for 40 hours weekly.
