Loan Processors are responsible for overseeing the administrative tasks related to loans and mortgages. Also known as Loan Officers, their duties include creating repayment plans, preparing loan files, and researching applicants. They work with mortgage loan managers, evaluators, and underwriters.
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Loan Processor Interview Questions:
1. What technique do you use to assess credit and why?
Highlights the candidate’s previous education and training.
2. What important documents do you need to start processing a loan?
Tests the candidate’s knowledge of loan processes and documentation.
3. What was the hardest loan file you’ve worked on? What happened?
Reveals the candidate’s experience in a similar role.
4. How many loan files are you able to manage at a time?
Highlights the candidate’s time management and multitasking abilities.
5. Which banking software programs are you familiar with?
Tests the candidate’s experience and knowledge of banking computer software.