Loan Officer Job Description

About the Loan Officer Position

Our team is seeking a responsible and motivated individual to join us as a Loan Officer. In this role, you’ll be a bridge between loan customers and financial institutions. The Loan Officer will help customers throughout the loan process: identifying their needs, assisting in filling out loan applications, and more.

An ideal candidate will have previous experience as a Loan Officer, including working with various types of loans. Excellent communication skills are a must.

Loan Officer Responsibilities 

• Meet with loan applicants as requested, helping them identify their needs
• Collect information and assist with filling out loan applications, answering questions as needed
• Review completed loan requests and evaluate customers’ financial eligibility, including income and credit scores
• Submit all loan applications in a timely manner
• Notify applicants of their approval status, explaining reasons for rejection when needed
• Prepare reports on approvals and denials for upper management as needed
• Work with approved customers to get paperwork signed and set up payment plans, informing them of all policies and procedures
• Monitor active loan accounts and seek solutions to speed up repayment processes
• Ensure operation is in compliance with relevant laws and regulations

Loan Officer Requirements

• [3+] years experience as a loan officer or in a related role
• BA/BS in finance, economics, business, or similar field of study
• Working knowledge of banking software, including application software and relevant databases
• Proficient with Microsoft Office
• Excellent analytical and organizational skills, with an eye for detail
• Exceptional communication skills, both verbal and written
• Must be customer service-oriented and competent at closing sales
• Knowledge of laws and regulations relevant to applicable compliance guidelines