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Indirect Loan Processor in Memphis at Vaco

Date Posted: 11/28/2018

Job Snapshot

  • Employee Type:
  • Location:
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  • Experience:
    At least 2 year(s)
  • Date Posted:
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Job Description


Responsible for preparing and processing all documents necessary for closing loans in accordance with Credit Union policies and procedures. Mails loan paperwork, disburses loans and coordinates closings with necessary personnel.


Process loan packets from dealerships to verify all documents and/or conditions are in the loan packet and review for completeness and accuracy. Documents reviewed include applications, debt ratios, interest rates, notes, security agreements, insurance documents, title documents, proper approvals, payments and disclosure items. Processes packets on retail consumer loans applications as well as residential first mortgage applications.

  • Gather background information on loan applicants, research discrepancies.
  • Request income and employment verification.
  • Reviews data input to ensure all databases are properly updated. Audits the daily exception report to assume all exceptions are documented.
  • Consults with management to resolve issues on loans not meeting established guidelines.
  • Contact members upon loan origination confirming loan terms and conditions, mails form letters and loan forms.
  • Adhere to all loan underwriting/processing policies and procedures.
  • Disburse all loan funding, accurately close loans accurately and timely
  • Set up member accounts
  • Performs a variety of support duties related to the indirect lending function.
  • All other duties as assigned.



High school graduate or equivalent.

Required Knowledge:

Understanding of loan products and services.

Knowledge of residential mortgage lending processing, related requirements, procedures and operations is essential.

Knowledge of GAP, ACH, GL's

Experience Preferred:

Four years lending experience with two years in indirect or residential first mortgage processing preferred.


Strong analytical skills and proficiency with Microsoft Word/Excel

Excellent verbal public relations skills.

Excellent organizational skills