- Job Descriptions
- Loan Officer
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.
- 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.