Question:

What loan officer duties consist of?

Answer:

Loan officer duties depend on the specific loan officer job requirements. Ranging from mortgage loan officers or agents, loan servicing officers, underwriters, collection analysts, etc. loan officer duties will differ accordingly.

On the whole, loan officer duties will include analysis of current credit and financial data of loan applicants to evaluate the lending risk and prepare reports respectively. Loan officers will also assess and/or recommend approval of real estate or commercial loans.

Also, a real professional loan officer will have the duties to act as a mortgage loan advisor and be ready to answer all kind of questions posed by the borrowers. Loan officers need to be acquainted with all type of loan products and be able to advise clients on loans that best match their interest and financial status.

Another of the most common loan officer duties is helping delinquent borrowers with successful repayment of their debt. Loan officers are supposed to do their best to help clients remain in possession of their homes and get them back on track with their loan payment plan, or arrange for selling the collateral in order for the lending company to get back their money when borrowers are unable to catch up with payment.

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