Loan Processor Job Description Sample
Loan processors prepare loan files and submit them to mortgage lenders or banks for approval. They are responsible for ensuring all documents and signatures are in order before submitting them. They also interview and assess loan applicants.
Job Description Sample
We are looking for an analytical Loan Processor to conduct loan assessments for businesses and individuals. The successful candidate will be responsible for liaising between us and potential clients, researching loan applicants, evaluating client loan eligibility, and preparing all necessary loan documentation.
A Loan Processor earns an average salary of $44,000 per year. This can range anywhere from $35,000 to $52,000 depending on experience.
- Multitasking abilities.
- Strong organizational skills.
- Excellent communication.
- Highly analytical.
- Research skills.
- Computer literacy including banking software and MS Office.
Duties and Responsibilities
- Collect necessary documents and prepare loan packages.
- Research client credit status and their current financial position to determine loan eligibility.
- Develop loan repayment plans in collaboration with clients.
- Complete loan contracts while making sure that clients are informed of the requirements and rules of the loan.
- Submit files to the Underwriter.
- Assess client eligibility via interviews.
- Verify all important client information.
- Bachelors degree in accounting, finance, or another similar field.
- Minimum of 3 years experience as a Loan processor or a similar position.
- Extensive knowledge of loan processes and documentation as well as closing procedures.
Using a Job Description Template
Follow these instructions to use a job description template
- Step 1: Replace the job duties and requirements based on information gathered from the team.
- Step 2: When the job description is finished, add an EEO (Equal Employment Opportunity) statement to the bottom of the job description.
- Step 3: Double check the job description fits the needs of the team, company, and is approved by the Human Resources department. Then post on a job board.
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