A Loan Processor, or Mortgage Processor, is in charge of gathering the necessary paperwork and documentation required for someone to apply for a loan. Their duties include carefully reviewing mortgage applications to confirm that all essential fields have been filled out, organizing additional application materials and submitting applications on schedule.
A Loan Processor should be able to fulfill various duties and responsibilities. The following are some duties and responsibilities a Loan Processor should be able to execute:
- Gathering information for the loan application
- Evaluating credit histories for applications
- Collecting data from clients such as their assets, salaries, debts and employment status to fill in information for the loan application
- Researching and correcting mistakes in applications for clients
- Reviewing file documentation for missing or erroneous information
- Meeting loan application deadlines
A competitive Loan Processor will have certain skills and qualifications, including:
- Experience with mortgage loan software programs
- Verbal and written communication
- Good interpersonal and customer service skills
- Time-management and organization skills
- Ability to work with strict deadlines
- Ability to explain technical concepts in simple terms
