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Title
Text copied to clipboard!Business Loan Officer
Description
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We are looking for a detail-oriented Business Loan Officer to join our team. The successful candidate will be responsible for assessing, authorizing, or recommending approval of commercial, real estate, or credit loans. They will advise borrowers on financial status and methods of payments, including mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters. The ideal candidate will have a strong understanding of loan underwriting and processing procedures, as well as the laws and regulations that govern them. They will also have excellent communication and customer service skills, and the ability to work well under pressure.
Responsibilities
Text copied to clipboard!- Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.
- Advise borrowers on financial status and payment methods.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Review and update credit and loan files.
- Compute payment schedules.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Submit applications to credit analysts for verification and recommendation.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Negotiate payment arrangements with customers who have delinquent loans.
Requirements
Text copied to clipboard!- Bachelor's degree in finance, economics, or a related field.
- Proven experience as a loan officer or similar role.
- Understanding of loan underwriting and processing procedures.
- Knowledge of the laws and regulations that govern loans.
- Excellent communication and customer service skills.
- Ability to work well under pressure.
- Strong attention to detail.
- Good sales and negotiation skills.
- Ability to maintain confidentiality.
- Proficiency in Microsoft Office and loan management software.
Potential interview questions
Text copied to clipboard!- How do you assess the creditworthiness of a business?
- Can you describe a time when you had to deny a loan application? How did you handle it?
- How do you stay updated on new financial products and services?
- Can you describe a time when you helped a client reach their financial goals?
- How do you handle pressure and stressful situations at work?