Our Loan Specialist job description includes the responsibilities, duties, skills, education, qualifications, and experience.
About the Loan Specialist role
A Loan Specialist is responsible for providing customer service and financial advice to loan applicants. They review loan documentation, calculate loan payments, and assist with loan applications. They also assist customers with questions and issues related to loan products and services. They must be knowledgeable in loan products, banking regulations, and lending guidelines.
Role Purpose
The purpose of a Loan Specialist is to provide financial guidance to individuals and businesses in the area of loan origination, underwriting and servicing. The Loan Specialist is responsible for the evaluation of loan applications and the completion of the loan origination process. They must ensure the accuracy of loan documents and compliance with federal, state and local laws. The Loan Specialist also provides guidance to customers in the selection of loan products and services. Additionally, the Loan Specialist is responsible for maintaining knowledge of loan products, terms, and conditions.
Loan Specialist Summary
Loan Specialist Job Summary
A Loan Specialist is responsible for providing excellent customer service while processing and managing loan applications. The Loan Specialist should possess strong interpersonal and communication skills in order to build relationships with customers and colleagues. They must be able to work efficiently and accurately in order to process loan applications quickly and accurately. The Loan Specialist should have a basic understanding of loan products and services and be knowledgeable in all relevant regulations and laws. The Loan Specialist is also responsible for providing customers with loan options that best suit their needs, and for managing the loan process from application to closing.
Loan Specialist Duties
- Interview loan applicants to determine financial eligibility and advise on available loan products
- Review financial documents and credit reports to assess risk factors
- Evaluate loan applications and suggest suitable loan terms and conditions
- Assist borrowers with completing loan applications and documents
- Negotiate loan terms with lenders
- Maintain records of loan applications and process payments
- Assist borrowers with loan payments and account inquiries
- Stay up-to-date on current lending policies and procedures
Loan Specialist Skills
- Excellent customer service skills
- Knowledge of loan processes
- Strong communication and organizational skills
- Ability to work independently
- Proficiency in Microsoft Office
Loan Specialist Requirements
- Bachelor's degree in business, finance, or related field
- Strong knowledge of loan regulations and procedures
- Excellent customer service and communication skills
- Ability to work with confidential and sensitive information
- Proficient in Microsoft Office suite
Personal Traits
- Organized
- Detail oriented
- Good communication skills
- Excellent customer service skills