Loan Processor Duties
Being a Loan Processor your key duty would be to update data on computer system immediately after the documents are received. Apart from this you must be able to process loans through desktop underwriting for submission. You must notify the borrower(s) and appropriate personnel upon getting the approval of the loan
Job Duties of Loan Processor
- Loan Processor should update any data related to his work on the computer system after receiving the documents.
- He must report to the office or Branch Manager on weekly and monthly basis for distribution to the appropriate division(s) and corporate office.
- Dependent on location, may be required to take loan application.
- He may have to travel frequently for training purposes and off-site meetings.
- He has to control equipments including telephone, computer, facsimile, typewriter and photocopier.
- Loan processor has to process loans according to the broker guidelines.
- He will have to process loans through desktop underwriting for submission.
- He needs to communicate loan status and issues with Loan Officer or Supervisor effectively.
- Serious loan related disagreements are to be informed to the Loan Officer.
- He will have to develop cases for submission when all requisite exhibits are received.
- He will also have to do follow up on submitted loans and the impending loans.