Loan Processor Job Description Template
The Loan Processor will be responsible for the accurate and timely processing of loan applications. They will collect and review all required documentation, verify eligibility, and calculate income. The Loan Processor will also prepare loan closing documents and disburse funds. In addition, they will provide excellent customer service by maintaining communication with borrowers throughout the loan process.
Loan Processor Job Responsibilities
- Review loan applications and supporting documentation
- Verify accuracy of loan application information
- Prepare loan files for underwriting
- Obtain necessary documentation from applicants
- Forward complete loan file to underwriter for approval
- Coordinate with underwriter throughout the approval process
- Keep applicant updated on status of loan application
- Upon approval, forward loan file to closing department
Objectives
- To review and verify loan applications for accuracy and completeness
- To collect and analyze borrowers’ financial information
- To calculate income, debts, and assets to determine loan eligibility
- To prepare loan documents for approval
- To coordinate with underwriters, closing agents, and customers throughout the loan process
- To provide excellent customer service at all times
Loan Processor Job Skills & Qualifications Needed
- A loan processor should have excellent communication skills, both written and verbal. They should also have strong organizational skills and be able to multitask. They should have knowledge of Microsoft Office programs, as well as experience with customer service. Additionally, they should be able to pass a background check.