Entry Level Loan Processor

Tasks

• Verify and examine information and accuracy of loan application and closing documents.

• Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.

• Record applications for loan and credit, loan information, and disbursements of funds, using computers.

• Submit loan applications with recommendation for underwriting approval.

• Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.

• File and maintain loan records.

• Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.

• Check value of customer collateral to be held as loan security.

• Interview loan applicants to obtain personal and financial data and to assist in completing applications.

• Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.

• Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.

• Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.

• Answer questions and advise customers regarding loans and transactions.

• Present loan and repayment schedules to customers.

• Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.

• Accept payment on accounts.

• Schedule and conduct closings of mortgage transactions.

• Establish credit limits and grant extensions of credit on overdue accounts.

Skills

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

• Writing - Communicating effectively in writing as appropriate for the needs of the audience.

• Speaking - Talking to others to convey information effectively.

• Mathematics - Using mathematics to solve problems.

• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

• Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.

• Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.

• Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

• Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.

• Time Management - Managing one's own time and the time of others.

Knowledge

• Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.

• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.

• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.