Loan Processor Job Description

The Loan Processor job description is good for hiring a perfect candidate because it clearly outlines the responsibilities and qualifications required for the position. Potential candidates can evaluate if they meet the job requirements and responsibilities before applying, which can result in a more streamlined and effective interview process. 

To customize this job description for specific needs, you can tailor the qualifications and requirements to match the skills, experience, and educational background preferred for the role. You can also include specific information about your company’s culture, mission, and values to attract candidates who are the right fit for your organization. Additionally, you might include details about compensation, benefits, and opportunities for career growth and development to incentivize potential candidates.

Job Description Brief:

Our company is seeking a highly motivated Loan Processor to join our team. The Loan Processor will be responsible for reviewing and verifying loan applications, supporting documents, and credit scores to ensure loan eligibility, accuracy, and completeness. They will work with lenders and borrowers to collect missing information, resolve application errors, and prepare loan files for underwriting, closing, and funding. Excellent communication skills and attention to detail are essential for success in this role.

Key Responsibilities:

• Review and verify loan applications, supporting documents, and credit scores to ensure loan eligibility, accuracy, and completeness.
• Communicate with lenders and borrowers to collect missing information, resolve application errors, and prepare loan files for underwriting, closing, and funding.
• Maintain regular communication with all parties to ensure loan closure within the deadline and compliance with regulations and policies.
• Update information in the loan origination system accurately and timely.
• Provide excellent customer service to all clients.
• Assist with other tasks and projects as needed.

Required Qualifications and Skills:

• High school diploma or equivalent
• 2+ years of experience in loan processing
• Knowledge of mortgage lending regulations and guidelines
• Excellent communication (verbal and written) and interpersonal skills
• Strong attention to detail and organizational skills
• Ability to multi-task, prioritize, and work in a fast-paced environment
• Proficiency in Microsoft Office and loan origination software
• Ability to maintain confidential information

Education and Experience Requirements:

• High school diploma or equivalent
• 2+ years of experience in loan processing

Physical Requirements:

• Ability to sit in front of a computer for extended periods of time

Work Schedule and Conditions:

• Full-time, 40 hours per week
• Monday through Friday
• Office-based work, professional business attire required

Compensation and Benefits:

• Competitive salary commensurate with experience
• Health, dental, and vision insurance
• Paid time off and holidays
• Retirement savings plan

Company Culture and Values:

Our company is committed to providing exceptional service, professionalism, and integrity to our clients and employees. We encourage open communication, collaboration, and continuous learning. We value diversity and inclusivity and strive to create a supportive and positive work environment.

Career Advancement Opportunities:

Our company believes in promoting from within and offers opportunities for career growth and development. We provide training, mentorship, and educational resources to help our employees achieve their personal and professional goals.

Application Process and Contact Information:

To apply, please send your resume and cover letter to [insert email address or application portal link]. We look forward to hearing from you!