Loan Officer
Job Summary
Responsible for helping individuals and businesses acquire loans from lenders. Analyzes and verified loan applications to determine eligibility, aid in disbursing funds, and set up debt repayment plans.
Primary Responsibilities
- Interview applicants to determine financial eligibility for loans.
- Request specified information.
- Counsel applicants on loan repayments policies and restrictions.
- Research lenders to find the lowest rate possible for a loan.
- Set up repayment plans and modify existing setup if necessary.
- Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
- Maintain and review account records, updating and categorizing them according to status changes.
- Ensure loan applications are complete and correct.
- Review accuracies in billing.
- Counsel clients on personal financial problems.
- Set up payment plans for debt liquidation.
- Analyze potential loan markets to find opportunities to promote loans and financial services.
- Inform individuals and groups about the financial assistance available to college or university students.
- Go over negative credit histories and recommend solutions to ameliorate financial situation.
- Work with consumers who are behind on their payments for current loans and help them avoid defaulting on the loans.
- Act as a liaison between the consumer and the lending institution.
- Refer applicants to lenders who approve loans for consumers with less-than-perfect credit.
