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Loan Service Representative (LSR)

Location : Miami, FL
Job Type : Direct
Hours : Full Time
Required Years of Experience : 1-3 related experience and or training
Required Education : High School or Equivalent
Travel : No
Relocation : No
Job Industry : Banking - Financial Services
Job Category : Banking

Job Description :
 A Loan Service Representative's responsibility will include reviewing, authorizing and recommending loans for approval. They meet with applicants to determine their creditworthiness before deciding whether or not they will offer them a personal or commercial loan. They go through each application individually, looking at what type/amounts an individual or business can afford based on specific principle and stay current with lending regulations, the economy and market rates.
Required Qualifications :

  • Evaluate credit worthiness by processing loan applications and documentation within specified limits

  • Interview applicants to determine financial eligibility and feasibility of granting loans

  • Determine all applicable ratios and metrics and set up debt payment plans

  • Communicate with clients either to request or to provide information

  • Justify decisions (approvals/rejections) and report on them

  • Complete loan contracts and counsel clients on policies and restrictions

  • Update job knowledge on types of loans and other financial services

  • Maintain and update account records

  • Assess customer needs, explore all options and introduce different types of loans

  • Develop referral networks, suggest alternate channels and cross-sell products and services to accomplish quotas

  • Go the “extra mile” to build trust relationships, customer loyalty and satisfaction throughout the underwriting process

  • Οperate in compliance with laws and regulations and adhere to lending compliance guidelines

  • Perform all other related duties as required


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