Loan interviewers and clerks interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to the appraisal department. They review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of the loan.
Loan interviewers and clerks interview and counsel clients regarding loan applications, assist with the completion of loan documents, inform applicants of lending policy terms and requirements, and submit applications for approval.
Mortgage loan officer assistants examine the accuracy of a loan application, compile documents like title abstracts, insurance forms, loan forms, and tax receipts, record loan information and disbursements of funds on computers, recommend loan applications for underwriting approval, inform applicants about acceptance or rejection of applications, and maintain loan records. Loan officer interview questions credit bureaus, employers, and other sources to check applicants’ credit and personal references.
Loan interviewers and clerks also check the value of customer collateral and order mortgage insurance policies to ensure protection against loss. They prepare loan applications, legal documents, letters, forms, government notices, and checks.
A high school diploma required is required for this job, although an associate's degree in a related field is preferred. Skills required include communication skills, organizational skills, attention to detail, thorough understanding of lending products and services, ability to explain complicated loan policies and terms clearly and understandably, and proficiency with word processing and spreadsheets software programs.
To succeed in the role of mortgage loan officer assistant, knowledge of financial software is essential. One should be able to serve customers effectively with confidentiality.
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