Loan Job Description
Loan
provides quality loan processing, reviewing files for adherence to underwriting standards, and ensuring completeness prior to submission for underwriting for approval.
Loan Duties & Responsibilities
To write an effective loan job description, begin by listing detailed duties, responsibilities and expectations. We have included loan job description templates that you can modify and use.
Sample responsibilities for this position include:
Interface directly with the credit desk for P&L issues, ad hoc reporting requests and status updates on unsettled loans
Process principal paydowns, drawdowns, PIK payments (including non-pro rata PIKs), refinancing (including cashless rolls), credit restructuring and other credit activity
Contact attorneys, title companies, insurance agents, tax agencies, to obtain information and/or resolve problems
Process payment of insurance premiums (fire,flood, PMI), real estate taxes, foreclosure expenses, or other charges
Monitor and follow-up on Outstanding Check Report
Respond to written correspondence (mail, email & facsimile)
Track missing legal documents on commercial loans (security agreements, title policies)
Obtain funding schedules and excel files from funding department
Ensure funding schedules match to excel files for loading and to cash
Responsible for resolution of all discrepancies above with funding department
Loan Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Loan
List any licenses or certifications required by the position: UCC, NMLS, GED, AUS, SAR, DE, FHA, LMA, VA
Education for Loan
Typically a job would require a certain level of education.
Employers hiring for the loan job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Education, Business, Accounting, Graduate Education, Graduate, Economics, Technical, Management, Business/Administration
Skills for Loan
Desired skills for loan include:
FHA
VA
FHLMC
Private investors
Local bonding programs
Pricing and underwriting requirements of various mortgage insurance companies
Underwriting requirements for FNMA
Local
State and national laws
Terminology
Desired experience for loan includes:
Responsible for loading of new deals into SBO
Prepare entries related to deals
Responsible for filing of deals
One year of loan processing experience in a financial environment preferred
Asses various types of lending proposals
Ability to use computer and various software like word, excel, PowerPoint
Loan Examples
1
Loan Job Description
Job Description Example
Our growing company is hiring for a loan. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for loan
- Review loan documentation for critical elements and enter pertinent information onto the servicing system
- Ensure servicing systems and applications accurately reflect the position of all loan and derivative products and liaise with I.T
- Pre-processing/coordinator role involving ordering title insurance, OFAC, Flood Certs, LDP/GSA list, Core Logic report
- Processes payments, payoffs and posting rejects
- Processes force placed insurance premium payments and refunds related to collateral protection insurance
- Boards and services escrow accounts
- Communicate with third party vendors and parties related to specific construction projects ensuring that a positive vendor relationship is maintained and shared information is accurate & confidential
- Set-up and process construction loan files for completeness
- Derive cash flow from analysis of federal personal & business income tax returns, including tax schedules and financial statements
- Carry minimal single-family residential (non-construction) loan pipeline, when assigned
Qualifications for loan
- Must possess excellent verbal and written skills with a high degree of human relation skills
- Must be detail oriented with the ability to meet deadlines
- Must have basic level of working knowledge in accounting
- Senior level position (3-5+ years in a call center, collections, or client-facing customer service experience position)
- Strong knowledge of financial products to include checking accounts, credits cards and loans
- Associates / College Degree
2
Loan Job Description
Job Description Example
Our innovative and growing company is hiring for a loan. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for loan
- Assist with implementation and training of Loan Administration personnel in Bank policies and procedures and Regulatory Compliance requirements
- Serve as administrator of the loan function in the bank's core system, ensuring integrity in reports, accuracy in data, and proper and efficient use of the core system
- Monitor and process changes and updates in LaserPro
- Work closely with senior management of the bank, including the CFO, to provide assistance with accounting matters in the loan area, accurate reconcilements, preparation of board reports, and support of reporting requirements for outside
- Assist Business Bankers and Credit Analysts with managing their workflow, questions regarding products, functionality, , providing options and escalating issues when appropriate
- Generate daily Scheduled Activity Report and next day Anticipated Scheduled Activity Report and track completion of daily activity
- Generate weekly Loan IQ Weekly Report and follow-up on missing items and inaccuracies with Loan Operations Group
- Facilitate communication between Project Finance team and Loan Operations Group
- Review, coordinate, and monitor draw procedures, manage flow of funds mechanics and internal loan administration
- Coordinate and manage flow of funds on Interest Payment Dates, including monitor distribution of Debt Service Notices to Borrowers, Interest Payment Notices to Lenders, and Rate Set Notices to all deal parties
Qualifications for loan
- Must be proficient in Microsoft Excel, Access and Word
- 2 or 4 year college degree is preferred
- Self motivated individual that can multitask
- Minimum one year bookkeeping experience
- Prior Banking and knowledge of credit reporting a plus
- Bachelors degree, preferably in finance or accounting or 5+ years loan operations experience
3
Loan Job Description
Job Description Example
Our company is growing rapidly and is looking for a loan. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for loan
- Assist in review of information provided by Loan Operations Group on audit confirmations to ensure accuracy
- Participate in and resolve day to day fire drills and other daily troubleshooting
- Assist Account Managers and Administrators in fire drills on accounts and client issues and escalate appropriately
- Communicate and service the Accounting Dept
- Ensure all general practices performed comply with the Bank’s policies and procedures (LPGL Manual, Operations, and Security Manuals) to ensure a high level of customer service and maintain a satisfactory inspection rating
- Process the input of margining efficiently and accurately relating to new and existing loans, this includes input of information, preparation of loan advances, payments, fees and mortgage renewals
- Process all entries relating to new and existing limit structure set ups
- Assists with monitoring the Student Queue
- Pursue continual learning and development of personal goals to remain current of industry knowledge assist to fulfil the Bank's and the individual's succession planning goals
- Assist Business Bankers and Loan Teams with managing their workflow, questions regarding products, functionality, , providing options and escalating issues when appropriate
Qualifications for loan
- High School diploma or education equivalent
- 2 years Capital Markets operational experience preferred, particularly in syndications
- Ability to work well under pressure and ability to multitask with concern for quality and accuracy
- Strong skills in loan servicing systems such as ACBS, Loan IQ, or similar systems
- Strong in organization, time management, customer service, and MS Excel and MS Word programs
- Must be super-fast
4
Loan Job Description
Job Description Example
Our company is growing rapidly and is hiring for a loan. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for loan
- Complete all loan processing duties in accordance with established policies, procedures and regulations
- Represent Bank of the San Juans in a professional manner which includes a professional image, confidentiality, a positive “can-do” attitude, good attendance, punctuality, flexibility and adaptability in meeting bank and customer needs
- Track flood insurance on all loans within the designated flood zone to insure compliance
- Maintain annual flood worksheets
- Force place insurance when necessary
- Be the primary contact to Insurance Companies/Agents for follow up when necessary on all policies/renewals/cancellations
- Image all insurance policies
- Scan and index loans verifying that files are complete
- Back up all other Loan Support positions as deemed necessary
- Client has just moved to a paperless system
Qualifications for loan
- Must be able to prioritize, organize, and complete tasks on time
- Must exhibit a polished and professional approach to work
- Must exhibit outstanding communication and analytical skills
- Minimum of 3 - 5 years related mortgage experience, required
- Must be able to work all regularly scheduled hours
- Minimum of 2 years of mortgage related experience within the last four years is required
5
Loan Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of loan. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for loan
- Works directly with relationship managers (RM), along with the borrower, legal counsel, title companies, insurance agents, and vendors to ensure closing requirements are met and necessary due diligence is obtained
- Represent the organization with clients and outside agencies
- Identity potential risks and provides solutions
- Actively negotiates and coordinates loan documents with Legal counsel
- Confirms budget, escrow closing statement and bank settlement statements are in balance, ensuring fees and expenses are accounted for and outstanding items are identified
- May train and mentor lower level loan closers
- Interview applicants to evaluate their eligibility for loan or mortgage
- Conclude on all applicable financial and non-financial criteria and develop loan repayment plans
- Follow up with clients to clarify important points
- Give the “green light” to eligible candidates and report decisions with sound arguments
Qualifications for loan
- 1 - 2 years of loan admin experience will be an added advantage
- Must be able to travel between our San Diego High Bluff, San Diego Downtown, and Newport Beach offices, other locations as position requires
- Skills to effectively operate a calculator, typewriter and computer other basic office equipment
- Working knowledge computer program word processing, spreadsheets or related software
- 2+ years of directly-related experience in accounting, financial analysis, and financial reporting
- Bank or credit and lending background strongly preferred