Loan Processor
Job Description Template

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Job Overview

We are looking for an experienced and qualified candidate as a Loan Processor for our company. You will have to assess all the loan applications, process loans, and evaluate loans product.

As a Loan Processor, your duties and responsibilities include analysis, appraisal, and evaluation of loan applications. You should gather data from applicants such as finance, employment, total assets, expenses, and current debts.

You will have an intermediary role between possible clients and our financial institutes. A Loan Processor is responsible to interview the loan applicants and verify their personal information as well as financial records. You will monitor the applicants and write financial contracts. 

If you consider yourself suitable for this post, we would like to meet you. 

Responsibilities

  • Analyze the applicants and determine if he or she is qualified to obtain the loan. 

  • Perform background checks of the potential borrowers and verify the documents that are submitted by the applicant.

  • Monitor the applicant’s current debts.

  • Create loan repayment plans.

  • Interview applicants to assess eligibility for a mortgage loan.

  • Finalize the contracts and keep the clients updated about its status.

  • Determine customer’s requirements and suggest loan plans accordingly.

  • Maintain relationships and set communication channels feasible for both, client and our organization.

  • Build a trustful relationship for the long term with the customers.

  • Ensure positive working relationships among the internal departments.

  • Review active loan files each day to save time.

  • Maintain and update all financial records.

  • Follow the established laws and policies and the opportunity to advance in the loan industry. 

 Requirements

  • Bachelor's degree in Finance, Economics or any related field.

  • Proven 2+years of experience as a Loan Processor, Loan Officer or a similar role.

  • Strong understanding of finance-related laws and procedures.

  • Strong knowledge of direct and indirect lending products and their practices.

  • Valid registration under the National Mortgage Licensing System and Registry for the mortgage processors.

  • Basic MS Office skills.

  • Exceptional ability to communicate with customers in a timely manner. 

  • Excellent verbal and written communication skills.

  • Strong analytical and math skills.

  • Trustworthy and reliable.

  • Outstanding sales skills.

  • Good time management skills.

  • Exceptional customer service skills.

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