Loan Officer Job Description

May 14, 20120 Comments

Loan officer job description and profile

The Loan Officer works for providing loans to people who apply for them .They are hired by financial institutions and banks, and they can also work independently and help people & companies get loans.

Loan officer duties and responsibilities

  • Reviewing the qualifications of the applicants who apply for loan
  • Reviewing the economic condition of the applicants and, ensuring their ability to pay back loans
  • Making applicants aware of loan procedures, terms & conditions
  • Explaining the loan pay back process and making sure that the monthly payments are paid on time
  • Help the applicants for filling forms and submitting required documents
  • Prepare reports on the approved loans and presenting it to the management

Loan officer skills and specifications

  • Excellent interaction capabilities to discuss the loan procedures with the applicants
  • Excellent mathematic and statistical study ability
  • Excellent knowledge of loans terms & conditions
  • Strong rational thinking
  • Excellent management and planning skills
  • Good writing capabilities to prepare loan reports
  • Ability to stay updated about the new loan changes and rules

Loan officer education and qualifications

  • A bachelor’s degree in commerce, finance, management and related subjects is required

Loan officer salary

The salary for this position depends on experience level – ranges from $30,000 to $70,000 per year.

 Download Loan Officer Job Description in Word Format

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