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Consumer Loan Processor Job Description

Job Descriptions December 1, 2013

For individuals that are considering a career as a consumer loan processor, the first thing to do would be to look at a consumer loan processor job description. Through this description, they can better gleam what would be expected of them as a consumer loan processor and what the requirements are to be a consumer loan processor. The main thing in the consumer loan processor job description is that a consumer loan processor meets with applicants so that they can review the information they have submitted on their loan applications.

As a consumer loan processor one has to gather the necessary information from loan applicants to assist them with completing the loan process. They must also have knowledge of various loan requirements and standards so that they can properly help those that are applying and so that they acquire the proper paperwork. Another aspect of the consumer loan processor job description is that they must examine the loan documents submitted to them to assure that all of the paperwork has been properly filled out and meets any underwriting guidelines.

Anyone that is interested in this type of career should be able to look at the information submitted by the applicant and help them clarify information and to find any missing information that there may be. They not only help with the loan process, but they also help find any potential problems and to also assist individuals to find the best loan for their needs. When they are assisting individuals that are applying for loans they should be able to identify any issues that the applicants may have with repaying the loan and at what financial risk the lender will be at if they provide the loan. It is not all about filling out paperwork, but they also are responsible for bringing in additional business by running sales campaigns and getting people interested in any loans that they may need.

Skills that are helpful for this position include having great verbal and written communication skills so that they can easily commute with their clients. Having sales skills is also important and can help with brining in new customers. Also having math skills and experience with financial software are all helpful for this position. Individuals that are interested in this position should have a high school diploma and some institutes require a bachelor’s degree in finance or economics. The median salary for a consumer loan processor is $31,091 and can vary based on experience and education.

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  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
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  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
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  • Study on your schedule - GCU offers many programs 100% online to fit your busy lifestyle.
  • GCU offers a variety of opportunities to reduce the cost of furthering your education. Campus students may qualify for scholarships, while online students can take part in limited special offers.
  • A regionally accredited university, GCU also holds specialized accreditations and approvals for some of our core program offerings.
  • Degrees in business, education, nursing, humanities and social sciences, theology and more. Find the degree that fits you.
  • Talk to us today to learn more about financial aid and start dates!
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  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
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  • • Liberty University’s online programs ranked in the top 10 out of more than 2,100 colleges & universities for academic quality, affordability, and accessibility.*
  • 100% online programs at associate, bachelor’s, master’s, and doctoral level.**
  • Transfer up to 90 credits into an undergraduate degree program.
  • Up to 50% of your master’s degree can be transferred in to help you get the most out of your hard work and maximize the credit you previously earned.
  • *BestColleges.com Gold Medal of Distinction
  • **excludes licensure, certification, and some doctoral programs
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  • Financial Aid
  • Transferable Credits
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  • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
  • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
  • Offers several flexible learning options, including a blended format that combines campus and online learning.
  • Several scholarship opportunities are available for students who qualify.
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  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
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  • Over 115 years of delivering quality education and personalized attention to students
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