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Job Title:
Loan Processor
Reports to:
AVP Loan Administration
Job Description:
Summary/Objective:
The loan processor position prepares monthly and quarterly reports and process consumer/commercial loans excluding mortgage files in accordance with bank and regulation guidelines; performs post-closing compliance reviews; and assist with data entry of online applications.
Essential Duties:
Accurate and timely data collection and preparation of monthly and quarterly reports for management; insurance maintenance; obtain payoffs; book and fund closed loans, review loan files for completeness, accuracy, and compliance standards; resolution of loan related issues; maintenance of existing loan accounts; loan payment processing; data entry of online loan applications into loan origination system; provide exceptional customer service.
Other Duties:
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Competencies:
Accuracy and attention to detail; decision making and critical thinking; communication proficiency; flexibility and adaptability; managing multiple priorities; operational functions; Organization skills; Proficient with Microsoft Word & Excel; comprehension of Federal & State Regulations.
Supervisory Responsibilities:
This position has no supervisory responsibilities.
Work Environment:
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, scanners, filing cabinets and fax machines.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. This is a largely sedentary role; however, some filing is required. This would require the ability to lift files (up to 50 lbs.), open filing cabinets and bending or standing on a stool/ladder as necessary.
Position Type/Expected Hours of Work:
This is a full-time position with a 40-hour work week. Hours of work and days are Monday through Friday, 8:30am to 5:00pm (flexible).
Travel:
May need to attend seminars/conferences.
Required Education and Experience:
High School Diploma or GED required.
Preferred Education and Experience:
Loan Processing Experience and knowledge of banking regulations preferred.
“Equal Employment Opportunity/Affirmative Action Employer”
Job Type: Full-time
Benefits:
Schedule:
Ability to Relocate:
Work Location: In person
Full Time
Banking
$43k-54k (estimate)
03/24/2024
07/20/2024
fbwbank.com
OCEAN CITY, MD
100 - 200
1925
Private
CHRISTOPHER F DAVIS
$10M - $50M
Banking
The job skills required for Loan Processor include Loan Processing, Loan Origination, Data Entry, Loan Review, Commercial Loans, Life Insurance, etc. Having related job skills and expertise will give you an advantage when applying to be a Loan Processor. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Loan Processor. Select any job title you are interested in and start to search job requirements.
The following is the career advancement route for Loan Processor positions, which can be used as a reference in future career path planning. As a Loan Processor, it can be promoted into senior positions as a Loan Processor III that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Loan Processor. You can explore the career advancement for a Loan Processor below and select your interested title to get hiring information.
If you are interested in becoming a Loan Processor, you need to understand the job requirements and the detailed related responsibilities. Of course, a good educational background and an applicable major will also help in job hunting. Below are some tips on how to become a Loan Processor for your reference.
Step 1: Understand the job description and responsibilities of an Accountant.
Quotes from people on Loan Processor job description and responsibilities
A loan processor reviews loan applications before sending them to the underwriter for approval.
01/11/2022: Springfield, IL
A loan processor will constantly work with computers and other electronic devices.
02/23/2022: Harlingen, TX
Loan officers evaluate, authorize, or recommend approval of loan applications.
01/09/2022: Orange, CA
Loan processors have to request additional documentation that may not be readily available for an applicant, like bank statements from several months ago or past years’ tax documents.
01/08/2022: Memphis, TN
Not only do loan processors collect and organize all of the loan documents, but they also order and organize various third-party requirements.
03/12/2022: Grand Forks, ND
Step 2: Knowing the best tips for becoming an Accountant can help you explore the needs of the position and prepare for the job-related knowledge well ahead of time.
Career tips from people on Loan Processor jobs
Analyze applicant's financial status, credit, and property evaluation to determine the feasibility of granting the loan.
03/14/2022: Burlington, VT
Analyze potential loan markets to develop prospects for future loans.
01/23/2022: Cincinnati, OH
Approve the loan within specified time limits.
03/06/2022: Helena, MT
Communicate With Current and Potential Customers.
03/07/2022: Pensacola, FL
The most common types of unsecured loan are credit cards, student loans, and personal loans.
02/27/2022: Reading, PA
Step 3: View the best colleges and universities for Loan Processor.