Loan Officer job summary
A great job description starts with a compelling summary of the position and its role within your company. Your summary should provide an overview of your company and expectations for the position. Outline the types of activities and responsibilities required for the job so job seekers can determine if they are qualified, or if the job is a good fit.
Example of a Loan Officer job summary
Our lending institution is looking for a Loan Officer who is prepared to make a difference in the lives of customers looking to buy a home. The Loan Officer will be responsible for discussing client’s needs, recommending the best loan products, helping customers put together a complete loan package and working with the underwriting team throughout the loan process. The ideal candidate also has experience managing home equity loans, home equity lines of credit, mortgage refinancing and other bank products.
Loan Officer responsibilities and duties
The responsibilities and duties section is the most important part of the job description. Here you should outline the functions this position will perform on a regular basis, how the job functions within the organisation and who the employee reports to.
- Meet with customers to determine their needs and recommend the right loan products to help meet their goals
- Maintain an active knowledge base of all of the organisation’s loan products and an understanding of the qualifications required of each applicant
- Identify and recommend products that meets the customer’s needs and the organisation’s lending guidelines
- Review active loan files each day to determine if any documents are missing or what can be done to help the process along
- Utilise professional judgement to determine which potential borrowers represent good risk opportunities for the organisation
Loan Officer qualifications and skills
Next, outline the required and preferred skills for your position. This may include education, previous job experience, certifications and technical skills. You may also include soft skills and personality traits that you envision for a successful hire. While it may be tempting to include a long list of skills and requirements, including too many could dissuade qualified candidates from applying. Keep your list of qualifications concise, but provide enough detail with relevant keywords and terms.
- Bachelor’s Degree in Finance required
- Current registration under the National Mortgage Licensing System and Registry
- 3+ years’ experience in the consumer loan industry
- Excellent communications and customer service skills
- Strong attention to detail and a mind for numbers
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