Loan Processor Job Description

loan processor job description includes a detailed overview of the key requirements, duties, responsibilities, and skills for this role.

Last update : July 14, 2023

Loan Processor Job Description

A loan processor is an individual employed by a lender or broker to process loan applications.

A loan processor analyzes loan applications to determine whether the applicant is approved for a mortgage loan.

Loan processors make the final determination on lending decisions.

They gather information, such as credit history, and request credit reports, which are then submitted to the underwriting department.

Job Brief:

We’re looking for a Loan Processor to join our team. As a Loan Processor, you will be responsible for reviewing and verifying loan applications, supporting customers through the loan process, and providing exceptional customer service. If you are a detail-oriented individual with strong communication and customer service skills, we want you on our team!

Loan Processor Duties:

  • Establish and maintain an effective working relationship with lending institutions, realtors, and customers
  • Quickly process loan applications by setting a high bar on accuracy and efficiency
  • Handle incoming calls and correspondence from potential clients, realtors, scouts, and lenders
  • Evaluate and process applications with the goal of approving the customer
  • Review and analyze credit requirements for loan approval
  • Ensure applications are processed within required time frames
  • Provide customers with required information about property
  • Research property values
  • Review credit reports
  • Monitor mortgage terms, rates, and fees
  • Conduct follow-up interviews with realtors, lenders, and customers as needed

Loan Processor Responsibilities:

  • Read, analyze, and interpret construction loan documents including contract terms, conditions, and responsibilities and ordinances
  • Establish and maintain relationships with contractors, vendors, and clients, including referrals and follow-up
  • Maintain detailed records of all loan commitments, disbursements, and payments
  • Review, process, and submit loan applications, work orders, title requests, and other loan-related documentation
  • Prepare closing documents and review all loan documents for completeness and accuracy
  • Oversee all administrative functions and processes associated with closing loans
  • Manage daily operations including hiring, training, and supervision
  • Meet with borrowers, contractors, vendors, and clients to facilitate loan processing and closing

Requirements And Skills:

  • Bachelor’s degree or equivalent education, preferably in finance
  • 2+ years’ proven experience in loan processing, preferably in mortgage lending
  • Excellent communication and interpersonal skills
  • Knowledge of general business software and aptitude to learn new applications; proficiency in Microsoft Office (Word, Excel,

[Company Name] is proud to be an Equal Opportunity Employer. We’re committed to building a diverse and inclusive team because we know that different perspectives result in the best possible outcomes. We encourage applications from people of all races, religions, national origins, genders, and ages, as well as veterans and individuals with disabilities.

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