Loan processors provide an important link between loan seekers and loan providers. They work for banks and mortgage companies and are required to act as a liaison between different parties to ensure that their loan needs are met. They serve as an initial point of contact for clients and provide them with information regarding available loan programs and their execution.
Before a loan is initiated, a loan processor is expected to perform a lot of tasks. This may include determining a client’s eligibility and payback capacity; the basis of each loan in eligibility which is why loan processors have to be very careful when gauging clients’ potential to pay back. There are expected to communicate with clients in order to ensure that clients understand the loan process which is why it is important for loan processors to possess exceptional communication skills. They analyze applicants to determine qualification and once this is managed, they verify documentation and then prepare and process loans.
Another important task that a loan processor is expected to perform is to keep in constant touch with credit bureaus in order to obtain credit reports of applicants. This helps them to decide a client’s eligibility and qualification for a proposed loan.
If you are well versed with the job duties of a loan processor, you may be interested in the following resume objective examples so you can write an effective resume when applying:
Sample Objectives for Loan Processor Resume
For Experienced Applicants
• Energetic, client-focused professional looking for a position as a Loan Processor with QC Holdings employing diverse experience of loan eligibility and processing in order to assist the company’s clients in acquiring loans in a time-efficient manner.
• Seeking a position as a Loan Processor at West Suburban Bank using expertise in client documentation verification and loan processing procedures to assist the bank’s clients in obtaining loans effectively.
• To obtain a position as a Loan Processor at US Bank utilizing proficiency in managing automated loan processing systems, knowledge of credit policies and approval processes.
For Entry Level Applicants
• To work as a Loan Processor with Prudential Commercial where a strong knowledge and experience in working with originators and underwriters can be used to perform loan processing functions in a time and cost-effective manner.
• Desire a position as a Loan Processor at Bay Equity. Offering knowledge of mortgage loans, clients’ eligibility factors and document processing protocols.