Loan Workout Officer restructures loans; works with lending personnel and borrowers to better secure collateral and/or assets of the borrower. Works with small- and mid-size loans of little to medium complexity. Being a Loan Workout Officer typically requires a bachelor's degree. Typically reports to a manager or head of a unit/department. The Loan Workout Officer works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Loan Workout Officer typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
Job Overview:
We are seeking a highly motivated and detail-oriented Loan Officer to join our team. As a Loan Officer, you will be responsible for assisting clients in obtaining loans for small business purposes. This is an excellent opportunity for individuals with a strong background in financial services and a passion for helping others achieve their financial goals.
Responsibilities:
- Evaluate loan applications and determine eligibility based on creditworthiness, income, and other relevant factors
- Guide clients through the loan application process, providing clear explanations of requirements and assisting with document collection
- Conduct thorough credit analysis to assess risk and make informed lending decisions
- Collaborate with underwriters to ensure loans meet established guidelines and requirements
- Maintain accurate and up-to-date knowledge of loan products, interest rates, and industry regulations
- Provide exceptional customer service, addressing client inquiries and concerns in a timely and professional manner
- Build and maintain relationships with clients, real estate agents, and other industry professionals to generate referral business
- Stay informed about market trends and changes in lending practices
Requirements:
- Proven experience as a Loan Officer or similar role in the financial services industry
- Strong knowledge of loan underwriting principles and practices
- Familiarity with loan origination software systems
- Excellent communication and interpersonal skills
- Ability to analyze financial information accurately and efficiently
- Proficient in basic math calculations and 10-key typing
- Attention to detail and ability to multitask in a fast-paced environment
- Knowledge of credit analysis, escrow procedures, and loan documentation requirements
- Must have daily, reliable transportation to get to and from work.
If you are a motivated individual with a passion for finance and helping others achieve their goals, we would love to hear from you. Apply today to join our team as a Loan Officer!
Job Type: Full-time
Pay: $38,400.00 - $46,080.00 per year
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Work Location: In person