Indirect Processor

MERITRUST CREDIT UNION•Wichita, KS

1d•$23 - $29

About The Position

The Indirect Lending Processor is responsible for efficiently and accurately processing indirect loan applications submitted by partner dealerships. This role ensures timely review, verification, and funding of loans while maintaining compliance with internal policies and regulatory requirements. The processor serves as a liaison between dealerships, underwriting, and internal departments to facilitate a smooth lending experience.

Requirements

High School Diploma
Understanding of consumer lending practices and indirect lending workflows.
Knowledge of loan documentation requirements and verification procedures.
Awareness of regulatory compliance standards (e.g., Truth in Lending, Fair Lending).
Minimum of 1-2 years of experience in loan processing, preferably in indirect lending or auto finance.
Experience in the financial services industry, most specifically in consumer lending.
Detail Orientation: Strong attention to detail and organizational skills.
Communication Skills: Excellent verbal and written communication abilities.
Adaptability: Ability to work in a fast-paced, deadline-driven environment.
LOS Skills: Proficiency in loan origination systems and Microsoft Office Suite.
Problem-solving: Proactively resolves issues with loan documentation or processing workflows, implements effective solutions.
Service Orientation: Customer service orientation and professionalism.

Responsibilities

Review and process indirect loan applications submitted by dealerships accurately reviewing loan applications, ensuring all required fields are completed and initial documentation is present.
Evaluate applications for eligibility based on established lending criteria.
Verify loan documentation for completeness, accuracy, and compliance-including credit applications, purchase agreements, income verification, and identification-for completeness, accuracy and compliance with internal policies and regulatory standards.
Maintain communication with dealerships to resolve missing or incorrect information, collect needed documents and assist them with any funding questions or concerns.
Collaborate closely with the underwriting team to ensure timely review and decision-making on loan applications.
Provide necessary documentation and context to support efficient underwriting process.
Assemble and finalize complete loan packages for funding, ensuring all required documents are signed, verified, and compliant.
Submit packages for disbursement within established timelines.
Maintain accurate and up-to-date records in the loan processing system, including application status, communication logs, and document uploads.
Ensure data integrity and confidentiality at all times.
Adhere to all lending policies, procedures, and applicable federal and state regulations.
Identify and escalate any compliance concerns or irregularities to the appropriate personnel.
Respond to inquiries from internal departments such as underwriting, funding, and compliance, as well as external partners, providing timely and accurate information.
Track and manage the loan application pipeline to ensure service level agreements (SLAs) are met.
Proactively identify bottlenecks and work with relevant teams to resolve delays.
Assist in preparing documentation and responses for internal and external audits.
Support reporting efforts by providing accurate data and insights related to loan processing activities.