Loan specialists work with clients to prepare their application for a loan. They are responsible for compiling loan documents, as well as reviewing and arranging them according to a company's finance-related policies and procedures. Loan specialists may be involved with home loans, student loans, car loans, or small business loans.
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Loan Specialist Job Description Template
We are looking to hire a dynamic loan specialist to be responsible for loan reviews and approvals. In this role, you'll be asked to meet a client's loan requirements by collecting data, verifying documents, and ensuring the completion of applications. You'll also be responsible for interpreting the financial policies, rules, and regulations of our company.
Loan Specialist Responsibilities:
- Working with clients to prepare applications for loans by compiling, arranging, and reviewing all relevant documents.
- Determining the feasibility of granting loans and communicating with management if required.
- Processing advances and disbursements, as well as preparing pay off letters.
- Working closely with loan officers to obtain credit information, coordinate closings, calculate closing costs, and disperse funds for clients.
- Ensuring loans are processed as per established company procedures and policies.
- Providing assistance in maintaining various credit files and following up on client inquiries.
- Assisting administrative staff with periodic audits.
Loan Specialist Requirements:
- Bachelor's degree in finance, economics, business administration, accounting, or related field.
- At least one year of experience working as a loan agent or a similar role.
- Solid knowledge of banking procedures and financial documentation.
- Ability to handle confidential data in an ethical and professional manner.
- Excellent customer service skills.
- Experience working with digital financial systems.
- Good computer skills.
- Ability to work on multiple tasks at once.
- Great organizational skills.
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