Use this professional created Loan Officer job description example to gain some inspiration on how to best craft your job description.
Loan officers reach out to individuals and companies to see if they are in need of financing. They also check applicant financial data, such as credit score and income, and suggest supplementary products or services. Different types of loan officer include consumer/commercial loan officer, loan underwriter, mortgage loan officer and loan collection officer.
In your loan officer job description, be sure to note that applicants should have at least a bachelor’s degree in finance, business or a related field. Aside from general experience, you might also want an officer who has obtained voluntary certification.
Loan officers should excel at making good decisions and take initiative to find new clients and business. An officer should be good at working with various types of clients and pay extremely close attention to detail.
Loan Officer Job Description Template
If you’re an individual who enjoys helping others meet their financial goals and achieve their dreams, you could be perfect as a loan officer. We’ll rely on you and your knowledge of loan origination, interviewing borrowers and current loan regulations to provide our customers with loan programs that are the perfect fit for their specific needs. Besides working with customers, you’ll also work with our processing team, underwriters and the loan origination staff. This position is also the perfect opportunity to bring innovation to the financial and investment industries. Are you ready to lend us your expertise, industry knowledge and dedication?
- Respond to daily borrower questions and offer them advice on which loan option is best for their personal circumstances and financial situation.
- Procure the necessary documentation to originate and process a loan, making sure you also take steps to secure all private and financial information received.
- Run borrower credit checks in order to determine loan eligibility and narrow down loan options for more efficient and personalized customer service.
- Input all necessary borrower information throughout the day and make sure all data is accurate and up-to-date. (We perform a “maintenance sweep” of the loan database at the end of the workday.)
- Perform all necessary administrative tasks with the help of the office manager, which involves making sure all forms have been signed, all necessary signatures are obtained and each borrower receives all required literature, terms and conditions regarding her/his loan.
- Attend monthly seminars, workshops and classes to stay current on the latest loan programs, requirements, regulations and laws. (Roughly 20 percent of the position requires travel, all of which you’ll be covered or reimbursed for.)
- Answer incoming calls and make outbound calls to potential leads.
Job Skills & Qualifications
- Two-year college-level education with a focus in finance
- At least two years of experience originating loans
- Strong self/time-management skills
- Knowledge of the latest loan origination and processing software and programs
- Superior communication skills with individuals from diverse socioeconomic backgrounds
- A desire to go to every length to take excellent care of each customer