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Job Analysis: Loan Officer

Loan officers evaluate loan applications, meet with applicants to obtain information, explain loan options, and approve loans within their limits or refer larger loans to management. They analyze financial status and credit histories to determine feasibility of granting loans. Loan officers must stay knowledgeable about new financial products and services and use various software programs to manage loan processing, financial analysis, and customer accounts.

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Ponni Molu
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150 views3 pages

Job Analysis: Loan Officer

Loan officers evaluate loan applications, meet with applicants to obtain information, explain loan options, and approve loans within their limits or refer larger loans to management. They analyze financial status and credit histories to determine feasibility of granting loans. Loan officers must stay knowledgeable about new financial products and services and use various software programs to manage loan processing, financial analysis, and customer accounts.

Uploaded by

Ponni Molu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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JOB ANALYSIS: LOAN OFFICER

Job Summary
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.
Advise borrowers on financial status and payment methods, includes mortgage loan officers
and agents, collection analysts, loan servicing officers, and loan underwriters.
Job Description

Analyze applicants' financial status, credit, and property evaluations to determine


feasibility of granting loans.

Obtain and compile copies of loan applicants' credit histories, corporate financial
statements, and other financial information.

Meet with applicants to obtain information for loan applications and to answer
questions about the process.

Explain to customers the different types of loans and credit options that are available,
as well as the terms of those services.

Review loan agreements to ensure that they are complete and accurate according to
policy.

Approve loans within specified limits, and refer loan applications outside those limits
to management for approval.

Handle customer complaints and take appropriate action to resolve them.

Stay abreast of new types of loans and other financial services and products to better
meet customers' needs.

Review and update credit and loan files.

Submit applications to credit analysts for verification and recommendation.

Software Skills

Accounting software Bottom Line LoanMaster Loan Servicing; Financial


Industry Computer Systems Loan Accountant.

Content workflow software Equifax Application Engine; Experian Transact SM

Document management software eOriginal eCore Business Suite

Financial analysis software Experian Credinomics; Moody's KMV CreditEdge;


VueCentric MortgageDashboard; White Clarke North America Credit Adjudication
and Lending Management

Office suite software Experian Strategy Management

Work Activities

Getting Information Observing, receiving, and otherwise obtaining


information from all relevant sources.

Establishing and Maintaining Interpersonal Relationships Developing


constructive and cooperative working relationships with others, and maintaining
them over time.

Making Decisions and Solving Problems Analyzing information and


evaluating results to choose the best solution and solve problems.

Interacting With Computers Using computers and computer systems


(including hardware and software) to program, write software, set up functions,
enter data, or process information.

Processing Information Compiling, coding, categorizing, calculating,


tabulating, auditing, or verifying information or data.

Organizing, Planning, and Prioritizing Work Developing specific goals and


plans to prioritize, organize, and accomplish your work.

Performing for or Working Directly with the Public Performing for people
or dealing directly with the public. This includes serving customers in restaurants
and stores, and receiving clients or guests.

Updating and Using Relevant Knowledge Keeping up-to-date technically


and applying new knowledge to your job.

Communicating with Persons Outside Organization Communicating with


people outside the organization, representing the organization to customers, the
public, government, and other external sources. This information can be
exchanged in person, in writing, or by telephone or e-mail.

Communicating with Supervisors, Peers, or Subordinates Providing


information to supervisors, co-workers, and subordinates by telephone, in written
form, e-mail, or in person.

Educational Qualifications
Bachelors Degree

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