Loan Processor Job Description

Loan Processor Job Description

Loan Processors are in charge of preparing loan files and submitting them to banks or mortgage lenders for approval. It’s their responsibility to ensure that all documents and signatures are in order prior to submission. Other duties include interviewing, assessing, and researching loan applicants.

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Loan Processor Job Description Template:

We are searching for an experienced and highly-analytical Loan Processor to conduct assessments of business and individual loans. You will act as the liaison between potential clients and our growing financial institution, conducting client evaluations, researching credit records, and preparing loan package documentation.

In this position, your chief goal will be to help eligible applicants obtain loans in a timely and professional manner while protecting our institution's credibility. The successful candidate will demonstrate an in-depth knowledge of relevant rules and regulations. You should also have strong attention to detail with excellent communication and interpersonal abilities.

Responsibilities:

  • Collect and prepare all necessary documentation for the loan package.
  • Research applicant credit status and current financial position.
  • Prepare and maintain all paperwork for existing and new loans, including loan disclosures.
  • Create repayment plans.
  • Complete loan contracts and ensure clients are kept informed of the rules and requirements.
  • Work with clients to establish their needs and recommend suitable types of loans.
  • Submit files to the designated Underwriter.
  • Conduct interviews to assess client eligibility for loans or mortgages.
  • Ensure you comply with the established regulations and law requirements.
  • Follow-up with clients to verify important information.

Requirements:

  • Bachelor’s degree in Finance or relevant field.
  • A minimum of 2 years’ experience as a Loan Processor or similar role.
  • In-depth knowledge of closing procedures, loan processes, and documentation.
  • Good understanding of banking computer software and MS Office.
  • Excellent interpersonal and communication skills.
  • Good multitasking abilities with outstanding time management skills.

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