Loan Processor Job Description

Loan Processor Job Description


A Loan Processor job description template to hire for your Accounting department.

About the Loan Processor position

We are looking for a Loan Processor who will perform evaluation and appraisal of individual or business loans٫ to help qualified applicants acquire loans and protect our organization’s credibility. We expect you to support the interaction between our potential customers and our financial department. Your responsibilities will also include analysis٫ appraisal٫ and evaluation of loan applicants٫ as well creating and managing contracts.

Loan Processor responsibilities are:

  • Analyze potential borrowers’ applications and make initial assumptions about them
  • Interact with applicants directly to evaluate their eligibility for loan or mortgage
  • Perform background research for in-depth evaluation of applicants’ credit standings
  • Make conclusions on all applicable financial and non-financial factors
  • Manage loan repayment plans and follow up with clients to clarify important points٫ if needed
  • Make assumptions about eligible candidates and prepare arguments reports
  • Finalize loan contracts and keep customers informed of rules and obligations
  • Explore customer needs and suggest different types of loans based on the received information
  • Manage customer records
  • Build trustworthy referral networks and alternate channels and suggest cross-sell products and services
  • Work closely with clients to build relationships and increase customer engagement
  • Ensure the compliance with inner policies and legal regulations

Loan Processor requirements are:

  • 3+ years’ experience of working on a Loan Processor position
  • Solid experience with direct and indirect lending procedures
  • Good practical experience with banking computer software and MS Office
  • Excellent knowledge of relevant rules and regulations
  • Strong communication and sales skills
  • Ability to combine results-driven approach with customer satisfaction orientation
  • BSc degree in finance٫ economics٫ or another related area