A group loan officer's responsibilities include:
Evaluating applications
Reviewing applications and documentation, and verifying information with credit bureaus and other agencies
Advising clients
Helping clients choose the best loan for their financial situation, and explaining the risks and benefits of different lending options
Processing loans
Approving or rejecting loans, and completing loan contracts
Managing loan files
Maintaining accurate and complete loan files, and monitoring borrower accounts
Following up
Following up on loan payments and delinquent accounts, and forwarding credit files to collections agencies
Staying up to date
Keeping up with loan application deadlines, and participating in educational opportunities to maintain knowledge of loan offerings
Building relationships
Building long-term, trusting relationships with customers, and maintaining positive working relationships with internal and external contacts
Complying with regulations
Operating in compliance with laws and regulations, and adhering to lending compliance guidelines
Some skills that are important for a loan officer include: Strong customer service skills, The ability to work in a fast-paced environment, Proficiency in Microsoft Office, The ability to prioritize and manage multiple tasks, and Strong interpersonal skills.