[Intro Paragraph] Begin your loan officer job description by telling potential applicants about the bank or lending institution. Because an employer’s brand may be a deciding factor as to whether individuals apply, you should present the institution in a good light and promote its reputation, values, and image in the financial industry.
Loan Officer Job Responsibilities:
- Advises clients about the risks, consequences, and benefits of alternative lending solutions.
- Develops loan applications by evaluating applicant information and documentation.
- Consults with clients about their lending needs to help them achieve their financial goals, including the collection and analysis of information about the client’s financial situation.
- Evaluates loan applications and documentation by informing applicant of additional requirements.
- Rejects loans by explaining deficiencies to applicants.
- Schedules and tracks closing dates, contingency dates, and loan lock expirations.
- Approves loans by issuing checks or forwarding applications to loan committee.
- Completes loan contracts by explaining provisions to applicant, obtaining signatures and notarizations, and collecting fees.
- Prepares and submits timely and accurate loan files.
- Uses state of the art technology to manage loan pipeline and conduct credit and underwriting analysis.
- Updates job knowledge by participating in educational opportunities, reading professional publications, maintaining professional networks, and participating in professional organizations.
- Helps customers by answering questions and responding to requests.
- Maintains customer confidence by keeping loan information confidential.
- Accomplishes bank mission by completing related results as needed.
[Work Hours & Benefits] You’ll want to discuss details about working hours and benefits after the introduction; because it involves important information relevant to the job, encouraging a candidate to continue reading the posting. In this section discuss working conditions or requirements, such as extensive travel. Take the opportunity to mention any special benefits available that would attract applicants, such as ample PTO, comfortable office spaces, or catered lunches.
Loan Officer Qualifications / Skills:
- Financial skills
- Time management skills
- Knowledge of financial software
- Customer service
- Analyzing information
- Decision making
- Quality focus
- Negotiation skills
Education and Experience Requirements:
- At least a high school diploma or GED
- Most advanced positions require a BA or BS in economics, finance, business, or other related field
- 2-5 years business experience
- Mortgage loans: registration as a mortgage loan originator with the Nationwide Mortgage Licensing System and Registry (“Registry”), state real estate license
[Call To Action] You will get more responses to your loan officer or loan processor job description if you place a call to action here at the end of your loan officer job description. Tell your job seeker how to apply for your position for example, by clicking on the “apply” button at the top of the job listing or by emailing a resume or filling out an application on the company’s website.
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