This Loan Processor job description template can be posted to online job forums and career pages for the recruitment of candidates. The Loan Processor job description, its requirements, and responsibilities, given in this template can be modified according to the specific need of your company.

Key Responsibilities

• Interview applicants for evaluating their eligibility for mortgage or loan
• Assess the applicants’ credit standings by doing background research
• Perform initial appraisal of applicants by examining their loan applications

Job Statement

We are hiring a qualified Loan Processor for performing appraisals of individual or business loans. 

What does a Loan Processor do?

You will be responsible for analyzing, appraising and evaluating loan applicants and also for writing and finalizing contracts. You will act as a bridge between our company and our potential clients with the ultimate goal of helping qualified applicants in obtaining the loan in a timely manner.

Job Requirements

• At least a Bachelor’s degree in Accounting, Finance, Economics or a related field
• Professional certification (e.g. CPA or CFA)
• Prior experience as a Loan Processor
• Experience with banking and accounting software (e.g. QuickBooks)
• Experience with direct as well as indirect lending products and procedures
• Sound knowledge of all loan regulations and rules
• Sound knowledge of MS Office, especially MS Excel
• Excellent communication skills, and sales experience are a plus
• Results-driven and customer-oriented personality
• An analytical mind with a problem-solving attitude

Job Responsibilities

• Interviewing applicants for evaluating their eligibility for mortgage or loan
• Assessing the applicants’ credit standings by doing background research
• Performing initial appraisal of applicants by examining their loan applications
• Forging trust relationships while also enhancing customer dedication
• Working within established rules and regulations at all times
• Identifying customer needs, exploring all possible options and suggesting various loans
• Cultivating trustworthy referral networks, cross-selling products and services, and also suggesting alternate channels
• Remaining updated with the latest practices in lending and similar financial services
• Creating and renewing records
• Following up with clients for clarifying important points
• Approving applications of eligible candidates while also reporting decisions with sound arguments
• Finalizing loan contracts and keeping clients informed of all obligations and rules
• Concluding on various financial as well as non-financial criteria and developing repayment plans