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Become A Loan Specialist

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Working As A Loan Specialist

  • Processing Information
  • Interacting With Computers
  • Communicating with Persons Outside Organization
  • Getting Information
  • Performing for or Working Directly with the Public
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Repetitive

  • Stressful

  • $37,710

    Average Salary

What Does A Loan Specialist Do At Pennymac

* Performing routine data entry and validation tasks
* Initiating third party orders (title, appraisal, hazard, flood cert, credit, etc.)
* Reviewing and validating loan documents
* Handling routine calls, emails and/or chat responses
* Draw closing documents accurately, and in compliance with all PennyMac investor, state, and federal requirements.
* Funds loans in compliance with PennyMac investor, state, and federal requirements.
* Work closely with operations and production teams to hit necessary closing and funding time-frames.
* Meet all division and company policies and training.
* Demonstrating behaviors which are aligned with the organization’s desired culture and values
* Preferred Qualifications

What Does A Loan Specialist Do At Robert Half

* Gather information and input into documents
* Follow ruled and guidelines to ensure the file goes to the appropriate account
* Communicate internally and externally
* Work in a team environment as well as working independently to meet weekly goals Shifts available: 8am
* pm 10am
* pm Location: West Des Moines
* OfficeTeam is the world's leader in professional staffing for office support jobs, focusing exclusively on the temporary and temporary-to-full-time placement of professionals in the administrative field.
* We are faster at finding you work because of the depth of our client network.
* Specifically, our professional staffing managers connect with thousands of hiring managers in North America every week to find your office support job opportunities.
* We evaluate all of our OfficeTeam temporaries' skills and match them with the needs of top employers in their area.
* Apply for this job now or contact us today at 888
* for additional information.
* All applicants applying for U
* S. job openings must be authorized to work in the United States.
* All applicants applying for Canadian job openings must be authorized to work in Canada.
* OfficeTeam.
* A Robert Half Company.
* An Equal Opportunity Employer M/F/Disability/Veterans.
* By clicking 'Apply Now' you are agreeing to Robert Half Terms of Use.
* Req ID:
* Functional Role:
* Account Executive/Staffing Manager
* Country:
* State:
* IA
* City:
* West Des Moines
* Postal Code:
* Compensation:* $14.00 to $16
* per hour

What Does A Loan Specialist Do At Fifth Third Bank

* Proactively contact customers to collect documents needed to underwrite application (including, but not limited to, income documentation, trust information, etc.)
* Provide accurate information to the customer, explains products and policies in a clear, concise manner to ensure they understand documents needed for a lending decision
* Evaluate loan documentation, review income documents, analyze data, and clear conditions per delegated authority (credit and non credit documents)
* Effectively translate internal communication to customer to ensure all information is delivered professionally, accurately, and timely
* Active liaison between the client, underwriting and financial center to meet all loan and customer requirements
* Actively manage pipeline of consumer loan applications
* Fields inbound calls from internal and external customers.
* Understand and review personal and business tax returns and other income documents
* Understand and review vendor documents (title, appraisal, flood, verification of employment, etc.) to communicate with internal and external customers any unexpected issues or needs
* Maintain high level of customer service by being proactive in communicating with borrowers and loan originators.
* Ownership as the escalation point for internal and external customer questions pertaining to documents needed for loan products
* Ensure accurate, complete, and timely loan data on processing and underwriting system
* Actively participate in ongoing efforts to continually improve customer service for internal and external customers
* Support the retail business partners in connection with consumer loan applications processed in the consumer credit centers.
* Maintain an in-depth, expert knowledge of all equity and non-equity lending products and services as they relate to procedures, increased efficiencies and policies
* Accurately enter issues into CIT so that issues can be routed appropriately, worked, tracked and resolved following standard Customer Complaint processes
* Respond to complex questions and issues from banking centers regarding products, systems and/or operational procedures in the banking center.
* Work independently to research and resolve issues or answer questions that often involve interpretation of bank policies and procedures.
* Responsible for completing call tracking and support documentation as required
* Act as a Trusted Advisor, proactively educating customers and bankers with each interaction.
* Consistently meet all quality, handle time, and aux/adherence standards.
* Mentor and train less experienced Loan Specialists
* Assist with training and on boarding of new Loan Specialists
* Serve as Consumer Lending Representative in the review of updates to existing procedure and newly developed procedures.
* Support Consumer Lending on departmental projects.
* Identify and communicate differences in regards to Regional Credit Center Operations
* Work with both credit centers to ensure consistencies and similar customer experience
* Understand loan policies and underwriting procedures to be able to explain cash flows, debt to incomes, and loan decisions to bankers
* Responsible for subject matter expertise regarding consumer credit policy and loan documentation requirements
* Respond to general inquiry emails in shared email box
* Provide all services above to Fifth Third customers calling into the credit center
* Perform any other duties as assigned.

What Does A Loan Specialist Do At Randstad

* Candidates role will be more data entry, then actually processing documents.
* They will be issued 13
* loans a day and be required to key in information into their proprietary system Cloud.
* Items they will key are:
* Basic contact information - name address, gender, social security number
* Borrower and lender information
* Hazardous document information
* Information from other loan documents using drop-down menus and free filing fields.
* Working hours: M
* F 6am
* pm (40 hrs/week

What Does A Loan Specialist Do At Umpqua Bank

* Set up, process, and monitor documents, and files for commercial loan package completion to meet lending specifications.
* Review and monitor loan documents for accuracy, completeness and adherence to approval conditions.
* Maintain files with sufficient documentation for third-party review and prepares files for timely audits.
* Set up and monitor loan and financial ticklers to ensure accuracy and timeliness.
* Responsible for ensuring all closing conditions are met and loans are closed within time frames.
* Assist Commercial Relationship Manager and underwriter in obtaining, scanning and archiving information required for underwriting a loan request.
* May assist Commercial Relationship Manager in ordering third party reports related to a loan request.
* Review and resolve a variety of customer problems/issues regarding bank products and services.
* Monitor existing loans to ensure complete conformity with terms.
* Follow up with customer to obtain all necessary information and clarification on financial analysis materials and resources.
* Process advances of funds for payment of credit accounts at the request of the borrower or Commercial Relationship Manager.
* May negotiate loan-signing dates with customers and Commercial Relationship Manager.
* May work with attorneys and other financial or legal resources to obtain the correct, accurate documents to fully protect the financial institution's interests in the credit relationship.
* Responsible for GL Certification which includes research, balancing and certification.
* May perform preliminary review of property and liability insurance to ensure it complies with bank policy and procedure.
* May provide customer service, administrative support and inter/intra office communication support for the department.
* Independently prepare data input sheets and provide required information for loans to be boarded on the banks servicing system and ensure all loan coding is correct.
* Review corporate organizational documents to determine appropriate signing authorities and responsible for confirming such entities are in good standing with applicable governmental agencies.
* May perform preliminary analysis on title insurance commitment reports including title exceptions, and responsible for preparing title/escrow instructions including reviewing final title policy to ensure it complies with the title/escrow instructions and confirms that the bank's lien position is accurate.
* Responsible for reviewing property and liability insurance to ensure it complies with bank policy and procedure.
* Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities -- knowledge may be gained through coursework and on-the-job training.
* Keeps up to date on regulation changes.
* Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job-specific training.
* Maintain a working knowledge of Bank's written policies and procedures regarding Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations as applicable to this job description.
* May be asked to coach, mentor, or train others and teach coursework as subject matter expert.
* Actively learns, demonstrates, and fosters the Umpqua corporate culture in all actions and words.
* Takes personal initiative and is a positive example for others to emulate.
* Embraces our vision to become "The World's Greatest Bank."
* May perform other duties as assigned.
* None

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How To Become A Loan Specialist

A high school diploma or equivalent is typically required for most financial clerk jobs. These workers usually learn their duties through on-the-job training.


Financial clerks typically need a high school diploma or equivalent to enter the occupation. Employers of brokerage clerks may prefer candidates who have taken some college courses in business or economics and, in some cases, require a 2- or 4-year college degree.


Most financial clerks learn how to do their job duties through on-the-job training. Some formal technical training also may be necessary; for example, gaming cage workers may need training in specific gaming regulations and procedures.


Financial clerks can advance to related occupations in finance. For example, a loan interviewer or clerk can become a loan officer, and a brokerage clerk can become a securities, commodities, or financial services sales agent, after obtaining the required education and license.

Important Qualities

Communication skills. Financial clerks should have good communication skills so that they can explain policies and procedures to colleagues and customers.

Math skills. The job duties of financial clerks, including calculating charges and checking credit scores, require basic math skills.

Organizational skills. Strong organizational skills are important for financial clerks because they must be able to find files quickly and efficiently.

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Loan Specialist jobs

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Loan Specialist Career Paths

Loan Specialist
Loan Servicing Specialist Specialist
Account Manager
5 Yearsyrs
Specialist Analyst Finance Analyst
Accounting Manager
7 Yearsyrs
Mortgage Loan Processor Senior Loan Processor Underwriter
Assistant Vice President
7 Yearsyrs
Mortgage Loan Processor Loan Officer
Branch Manager
6 Yearsyrs
Loss Mitigation Specialist Loan Processor Loan Officer
Branch Manager/Loan Officer
5 Yearsyrs
Service Specialist Credit Analyst Credit Manager
Collections Manager
5 Yearsyrs
Service Specialist Personal Banker Credit Analyst
Credit Manager
5 Yearsyrs
Mortgage Processor Service Specialist Credit Analyst
Credit Officer
5 Yearsyrs
Specialist Account Manager Sales Manager
General Manager
7 Yearsyrs
Senior Loan Processor Senior Underwriter Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Account Manager Account Executive Sales Manager
Office Manager
5 Yearsyrs
Account Manager Sales Manager General Manager
Operations Director
9 Yearsyrs
Underwriter Quality Control Quality Control Manager
Operations Manager
7 Yearsyrs
Loan Servicing Specialist Service Specialist Human Resource Specialist
Payroll Manager
7 Yearsyrs
Branch Manager General Manager Operations Director
President Of Operations
11 Yearsyrs
Loan Closer Loss Mitigation Specialist Foreclosure Specialist
Property Preservation Specialist
6 Yearsyrs
Branch Manager Account Manager Operations Manager
Regional Operation Manager
9 Yearsyrs
Underwriter Senior Underwriter
Underwriting Manager
8 Yearsyrs
Senior Loan Processor Underwriter Assistant Vice President
Vice President And Manager
10 Yearsyrs
Loss Mitigation Specialist Underwriter Assistant Vice President
Vice President Operation Manager
9 Yearsyrs
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Loan Specialist Demographics


  • Female

  • Male

  • Unknown



  • White

  • Hispanic or Latino

  • Asian

  • Unknown

  • Black or African American

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Languages Spoken

  • Spanish

  • French

  • German

  • Arabic

  • Russian

  • Portuguese

  • Dutch

  • Hmong

  • Chinese

  • Japanese

  • Gujarati

  • Italian

  • Hindi

  • Vietnamese

  • Korean

  • Bosnian

  • Tigrinya

  • Thai

  • Croatian

  • Mandarin

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Loan Specialist

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Loan Specialist Education

Loan Specialist

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Top Skills for A Loan Specialist


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Top Loan Specialist Skills

  1. Loan Applications
  2. Financial Statements
  3. Customer Service
You can check out examples of real life uses of top skills on resumes here:
  • Processed loan applications in accordance with company guidelines.
  • Summarize clients' financial condition by analyzing periodic financial statements.
  • Provided exceptional default customer service in an escalated call center queue, handling over 120 calls per day.
  • Coordinated and reviewed attorney prepared loan documents, and title work.
  • Assisted in the processing of mortgage loans to include credit worthiness and acceptable vendor qualifications.

Top Loan Specialist Employers

Loan Specialist Videos

Commercial Loan Officer, Career Video from drkit.org

Career Advice on becoming a Syndicate Finance Manager by Peter B (Full Version)

A Day in the LIfe of a Ugandan Loans Officer