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Title
Text copied to clipboard!Loan Processor
Description
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We are looking for a detail-oriented and experienced Loan Processor to join our team. The successful candidate will be responsible for handling, evaluating, and processing loan applications. You will be tasked with gathering and verifying necessary financial data, checking loan agreements for completeness and accuracy, and communicating with clients to guide them through the loan process. You will also be responsible for ensuring compliance with banking and legal regulations and guidelines. The ideal candidate should have a strong understanding of lending procedures, excellent attention to detail, and strong decision-making skills.
Responsibilities
Text copied to clipboard!- Review loan applications and documents for completeness and accuracy.
- Verify and analyze loan applicants' financial information and creditworthiness.
- Coordinate with loan officers and clients to obtain additional documentation.
- Prepare and maintain all paperwork for existing and new loans, including loan disclosures.
- Calculate repayment and financial ratios to evaluate the client’s financial status.
- Ensure compliance with company policies, underwriting guidelines and lending-program requirements.
- Manage multiple loan files simultaneously.
- Communicate loan status and updates to all involved parties.
- Recommend loan approvals or denials based on customer financial status and eligibility.
- Stay updated on financial and lending trends and regulations.
Requirements
Text copied to clipboard!- Bachelor’s degree in Finance, Business or a related field.
- Proven experience as a Loan Processor or similar role.
- Solid understanding of lending products and practices.
- Knowledge of loan underwriting and processing procedures.
- Excellent communication and sales skills.
- Ability to handle confidential and sensitive information.
- Strong attention to detail and accuracy.
- Proficiency in banking databases and software.
- Ability to work in a fast-paced, goal-oriented environment.
- Strong decision-making and problem-solving skills.
Potential interview questions
Text copied to clipboard!- How do you handle multiple loan applications simultaneously?
- Can you describe a time when you had to deny a loan application? How did you handle it?
- How do you stay updated on financial and lending trends and regulations?
- Describe your experience with banking databases and software.
- How do you ensure accuracy and attention to detail in your work?