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Loan Officer Job Description
We are recruiting for an experienced Loan Officer to join our growing institution. In this position, you will act as a liaison between applicants and our financial institution, helping qualified applicants obtain loans and set up payment plans. Working as a Loan Officer your duties will include meeting with applicants, preparing loan proposals, and examining active loans.
Suitable candidates will have experience managing different types of loans including home loans, business loans, and individual loans.
To succeed in this role, you should demonstrate excellent communication and interpersonal skills.
Loan Officer Responsibilities:
- Analyse active loan files on a regular basis and recommend solutions to speed up the loan process.
- Meet with loan applicants to identify their needs and collect information for loan applications.
- Complete loan contracts and support clients on policies and regulations.
- Interview applicants to quantify financial eligibility and establish debt payment plans.
- Monitor and update account records.
- Submit loan applications in a timely manner.
- Prepare detailed loan proposals.
- Reject loan applications and explain deficiencies to applicants.
- Respond to questions and resolve any loan-related issues.
- Operate in compliance with laws and regulations.
Loan Officer Requirements:
- A minimum of 3 years’ experience as a loan officer.
- Solid understanding of local, state, and federal loan regulations.
- In-depth knowledge of computers and banking software.
- Outstanding interpersonal and communication skills.
- Customer service oriented with exceptional sales skills.
- Bachelor’s degree in Finance or similar field.
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