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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