sample resume for business loan application

How to Write a Resume for a Business Loan

Small Business
Money & Debt
Business Loans
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Establishing business credit is a long process, that often hinders companies seeking loans in the early phases of business. Many small business owners must use personal credit or income when filing for a small business loan, as lenders want to know if the business owner can make the company a success or repay the debt. In these cases, a business plan and a personal resume are required. Business loans are available through commercial banks or Small Business Administration (SBA) resources.

Write a business plan that summarizes the business operations. Include the products and services offered, marketing strategies and an analysis of competition. Provide a detailed analysis of revenues, major contracts and partners to demonstrate the viability of the business and explain why the loan is needed.

Write the objective of your resume, summarizing who you are and what you seek. To obtain a business loan, the objective isn't to land a job, it is to demonstrate to a lender that you are the person who will drive the company to success and are worthy of a loan. List the objective in its own section with "Objective" in bold letters.

Summarize your abilities and key qualifications in a second section. Create bullet points of qualifications such as business management, leadership, quantitative skills and interpersonal skills.

List all pertinent work and volunteer history you have in a third section. Managerial experience, years in the same industry or consulting with a particular company for an extended period of time all demonstrate how your previous experience will contribute to the new successful venture.

Organize the list in chronological order, with your most recent experience listed at the top. You don't need every job, just the ones that relate to the business venture or your function in the organization. List the job title, company, location and dates of hire with key responsibilities in bullet points underneath.

State your education in the last section. Write the degree, school and year you graduated.

SBA: How to Apply for Financial Assistance
Business.gov: Small Business Loans
Rockport Institute: How to Write a Masterpiece of a Resume
Include the resume as part of the business plan as an Appendix. A lender will need all the information from both the company and you to decide on a loan.

With more than 15 years of professional writing experience, Kimberlee finds it fun to take technical mumbo-jumbo and make it fun! Her first career was in financial services and insurance.

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Home > Finance > Loans

How to Properly Write a Business Loan Request

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Have to submit a business loan request letter as part of your loan application? Not sure how to get started?

We don’t blame you. These kinds of letters aren’t as common as they used to be. While online lenders don’t usually ask for small-business loan requests, some traditional banks and credit unions still do. And if you apply for an SBA business loan (a loan backed by the US Small Business Administration), you’ll need a small-business loan request as part of your loan application package.

No matter which lender you’re applying with, this guide will help you write a strong business loan request letter―and to get the business loan you need.

How to write a business loan request letter

Start with the easy stuff
Write a brief summary
Add information about your business
Explain your financing needs
Discuss your repayment plan
Close the letter

1. Start with the easy stuff

Writing a loan request can feel overwhelming. After all, it’s not an everyday part of being a small-business owner. What do you say when applying for a bank loan? How do you write a business proposal for your loan application? What’s your lender even looking for in a business loan request letter?

That’s why we suggest starting your request writing process with the easy bits: formatting.

You’ll want to begin your business loan request with some pretty standardized formatting that includes your contact information, the date, your lender’s contact information, a subject line, and a greeting.

Typically, you’ll want to format the beginning of your small-business loan request roughly like this:

First and last name

Business’s name

Business’s phone number

Business’s address (this one is optional)

Lender name (or loan agent’s name and title, if you have one)

Contact information for your lender or loan agent

Subject line

Obviously you can simply plug in the relevant information for most of this. Easy peasy, right?

You’ll really only have to come up with your own subject line and greeting. But don’t overthink it. Something like this will work just fine for your subject line:

Re: [Your business’s name] business loan request for [loan amount]

Likewise, keep your greeting simple. “Dear [lender]” or “Dear [loan agent]” will do quite nicely.

Got all that? Then you’re ready to get into the actual loan request.

By signing up I agree to the Terms of Use.

2. Write a brief summary

Before you dive into the meat of your loan request, you should give a brief summary of your letter. Just write a short paragraph that says why you’re writing and what you want.

So you’ll probably want to include the following details:

Business name
Business industry
Desired loan amount
What you’ll use the loan for

No need to get fancy with this. You’re trying to condense the most important information into one or two sentences.

For example, your summary might look something like this:

I’m writing to request a [loan amount] loan for my small business in the [industry name] industry, [business name]. With this loan, [business name] would [describe your intended business loan use].

As you can see, you don’t need much detail here. You’re just giving the reader a quick overview of what’s to come.

And now that you’ve given them that preview, it’s time to get more in depth.

Remember, your lender isn’t here to grade your writing. Try to use good spelling, grammar, and punctuation―but don’t stress about crafting beautiful sentences.

3. Add information about your business

Your next section should add more detail about your business. You’ll want to include information like this:

Business’s legal name (if different than name used)
Business’s legal structure (LLC, partnership, S corp, sole proprietorship, etc.)
Business’s purpose
Business’s age (or date it began operating)
Annual revenue
Annual profit (if applicable)
Number of employees

Now, keep in mind that you’re not trying to give your reader an encyclopedic history of your business. Instead, you’re trying to show that you have a well-established business―one that’s solid enough to deserve a business loan. So focus on relevant details that show your business’s maturity.

You can keep this section as short as a few sentences or as long as a few (brief) paragraphs. Just make sure you leave plenty of room for the next two sections.

4. Explain your financing needs

After discussing your business, it’s time to explain why you need a bank loan.

That means you’ll want to offer some details about how you plan to use your business financing. For example, you can talk about the employees you plan to hire, the building you want to expand, or whatever else you intend to do with your term loan .

Take note, though, that you also need to explain why your loan request makes sense. Because your lender doesn’t really care that you want a loan―it cares whether or not it makes sense to lend to you. You need to convince your lender that you have a good plan for your loan―one that will make it easy to repay the money you borrow.

Try to answer questions like these as you write this section:

Why should your lender want to approve your loan application?
What happens to your business if you get your small-business loan?
What kind of growth will your business loan allow for?

Dig into your business plan and projections to find some good stats. Explain how hiring those additional employees will increase your revenue by a certain percentage or dollar amount. Break down how opening that add-on to your restaurant will allow you to seat a number of additional customers, and how much revenue you expect that to bring in.

The more specific you can get, the better. Because again, you’re trying to convince your lender that you’re borrowing as part of a thoughtful business plan ―not just because you want some cash.

And take your time with this part. In most cases, this section and the next one will form the meat of your business loan request letter.

As a rule, you should keep your business loan request letter to one page.

5. Discuss your repayment plan

By this point, your lender should understand what your business does and why a loan would help it grow. Now you need to prove to your lender that you can repay your small-business loan.

This doesn’t mean you have to show precise calculations breaking down your desired interest rate and monthly payment. (After all, your bank probably hasn’t even committed to a specific interest rate yet.)

Instead, talk about things like your business’s past finances, other existing debts, and any projections can you offer.

So if you have a profitable business, point that out, and discuss how that will free up cash flow to repay your loan. Offer summaries of profit-and-loss statements that show your business has been growing. Tell your lender how you’ll pay off that existing loan within a few months, so they don’t need to worry about it interfering with repayment of your new term loan.

Put simply, this is your chance to convince your lender of your creditworthiness. Especially if you have a slightly low credit score or some other concern, you want to use this section to show that you will absolutely repay your loan.

6. Close the letter

Finally, you can add a few finishing touches.

Usually you should close with a short paragraph or two that refers the reader to any attached documents (like financial statements) and asks them to review your loan application.

You may also want to include a sentence expressing willingness to answer any questions―or just saying you’re looking forward to hearing back.

Then end things with your signature, list any enclosed documents, and you’re done!

Well, sort of.

At this point, we strongly recommend you print off your business loan request letter and read it―out loud, if possible. This will help you catch any errors. Because no, your lender isn’t a writing teacher, but you still want to make a good impression.

Plus, if you make typos on something like your business name or desired loan amount, that inaccuracy could lead to confusion from your lender―slowing down your loan approval process.

Once you’ve proofread your loan request letter, you’re ready to submit it to your lender. With any luck, your thoughtful letter will help convince your lender to give you that loan you want.

Loan proposal letter template

So how do all those steps look when you put them together? Something like this:

First and last name

Business’s name

Business’s phone number

Business’s address (this one is optional)

Date

Lender name (or loan agent’s name and title, if you have one)

Contact information for your lender or loan agent

Subject line

Greeting

This first paragraph should summarize the rest of your letter. Keep it to just a couple sentences.

The next one to three paragraphs add more detail about your business. Include facts about its age, revenue, profit, employees, and other relevant information.

Then explain why you need financing and how you’ll use it to grow your business. This section can be a little longer (but remember your whole letter should fit on one page).

Next, talk about how your business will repay your loan. You may want to mention how financial documents show your business’s financial health, for example.

Finally, close with a short paragraph or two that list any enclosed documents and invite the lender to consider your loan application.

Printed name

List of enclosed financial documents

That’s not so hard, is it? With this basic business loan request letter template, you can easily write your own personalized business loan proposal.

The takeaway

So there you have it―that’s how to properly write a business loan request.

Get your formatting right, include a short summary, talk about your business, explain your loan needs, prove you can repay your loan, and close things off. (And don’t forget to proofread.)

We believe in you. You can write this thing.

And good luck getting your loan application approved!

Don’t just tell your lender you can repay your business loan―make sure you can with our business loan calculator .

5 Loan Officer Resume Examples to Make the Cut in 2024

Loan Officer Resume

Loan Officer Resumes by Experience
Loan Officer Resumes by Role
Write Your Loan Officer Resume

Anyone applying for a loan can use some helpful guidance along the way. You help with excellent client service, application evaluations, and creating effective data payment plans.

Have you properly evaluated your top skills ? Can you present them effectively with your current resume template ?

Banks rely on loan officers to approve clients for the right types of loans and funding, so they’ll want to ensure you have the right skills for the job. You can use our loan officer resume examples as an easy template for success in the hiring process.

or download as PDF

Loan officer resume example with 9 years of experience

Why this resume works

Even the best and brightest in the world can’t practice as a mortgage loan officer without a Mortgage Loan Originator (MLO) license. Before you do anything, add your MLO to your loan officer resume in order to be seriously considered for future roles.

Loan Officer Assistant Resume

Show potential employers that you have an affinity for money math by showcasing your finance degree on your loan officer assistant resume.

Entry Level Loan Officer Resume

You want to specify insights or skills gained from these educational experiences, solidifying your potential to add value to the hiring company. Conclude with a compelling career objective that emphasizes your ambitions for the role and company.

Commercial Loan Officer Resume

Detailing how you trimmed loan processing time by an exact number of days or increased revenue by a specific dollar amount illuminates your ability to deliver tangible business outcomes, painting a picture of your potential value to the prospective employer.

Mortgage Loan Officer Resume

Showing a progression in the business from underwriter to closer to officer on your mortgage loan officer resume emphasizes your strong foundation to recruiters.

Related resume examples

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Financial Analyst

Create a Tailored Loan Officer Resume for Each Job Description

Job seeker stands with hands in air, questioning how to fill out job materials

When applying to banks and lending offices, you’ve probably noticed each company has its own unique specialties and needs from loan officers. That’s why you must tailor the skills you list for each job you apply to, not only when writing a cover letter , but also in your resume.

For instance, if you were applying to a bank needing a loan officer specializing in mortgage loans, you could include skills like property evaluations and FHA loans.

Need some ideas?

15 best loan officer skills

Mortgage Loans
Portfolio Management
Experian CreditWorks
Client Relations
Microsoft Office
Bloomberg Terminal
Commercial Loans
Financial Analysis
Team Collaboration
Regulatory Compliance
TransUnion TLOxp

Your loan officer work experience bullet points

You’ll have caught the hiring manager’s attention with top skills like regulatory compliance and portfolio management listed on your resume. The next step is to show them what you’ve achieved while using those abilities as a loan officer.

A great way to optimize is by using metrics-based examples to help illustrate what you achieved.

Also, try to keep each example short and simple to make your impact clear, just like you’d do when outlining essential financial information for clients.

Here are some great metrics hiring managers will love to see on loan officer resumes.

Abandoned loan rate: When you approve someone for a loan, you want them to go through with the deal rather than going elsewhere, so banks will want to bring on loan officers who can sell clients on the benefits of working with their organization.
Customer satisfaction: When you meet with clients, it’s important to provide them with friendly and helpful service, so banks will always be concerned about satisfaction scores.
ROI: Every bank will want to know the expected returns you can achieve after loan approvals.
Net charge-off rate: When you approve loans, you want to ensure the customer can pay it off, so reducing net charge-off rates is an excellent sign of quality performance.

See what we mean?

Reviewed Loan Prospector findings to support the accurate submission of loan files, leading to a 12% reduction in application rejections.
Utilized Encompass to efficiently process 32+ monthly loan applications and reduced turnaround time for borrowers by 27%.
Leveraged Salesforce to nurture 46+ qualified leads monthly and increased loan applications by 51%.
Engaged in networking events to expand the client base, which grew the business referrals by 24%.

9 active verbs to start your loan officer work experience bullet points

3 ways to optimize a loan officer resume if you lack experience.

When you don’t have much work experience as a loan officer, you still will have many transferable skills you can apply from other fields you’ve worked in. For instance, jobs involving customer service or data analysis would apply well to show you’re detail-oriented for a financial position while providing an outstanding client experience.
Your bachelor’s degree in finance, business administration, or other related fields will have provided you with many abilities that have prepared you to succeed. For instance, you could explain how you received a 96% overall grade on a class project where you made a detailed analysis of end-of-year income statements.
A resume objective will help showcase your top financial skills and connect with hiring managers on why you want the job. For instance, you could explain how you’re a motivated financial professional who is eager to apply your two years of portfolio management experience to help clients get the best results when applying for loans.

3 Tips to Elevate Your Loan Officer Resume When You Have Experience

Limiting your resume to three or four jobs is optimal if you’ve worked in many financial positions. You should list your most recent jobs and those most relevant to key skills the company is looking for, like mortgage loans or Experian CreditWorks.
Showcasing some impressive experiences right away can impress hiring managers in financial positions. For instance, you could explain how you’ve managed a portfolio of accounts valued at $2.1 million over your 11-year career while limiting net charge-off rates to just 1.2% during that time.
When you have experience, you’ll have much more data you can include about ROI and customer satisfaction scores. Ensure your work experience examples have data points about what you’ve helped banks or lenders achieve.

You should limit your loan officer application to a one-page resume . If you’re struggling to narrow it down, consider ways to narrow in on essential company needs. For instance, commercial lenders would be very interested in your portfolio analysis and business evaluation skills.

Every bank and lending organization operates a bit differently, so it is important to customize your resume each time. That way, skills like Quickbooks or credit analysis that a company is looking for will stand out to hiring managers while reviewing your resume.

Action words like “reviewed” or “analyzed” are a great way to make what you achieved sound more impactful. For instance, you could say you “analyzed credit profiles of loan applicants in Equifax Decision Power to boost approval quality, leading to a 54% decrease in net charge-off rates.”

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Commercial loan officer Resume Sample

Boost your odds of landing your desired job and ignite your resume with our exceptional Commercial loan officer CV. Whether you prefer to use it as is or tailor it to your unique qualifications, our HR-approved resume builder makes the process seamless. Simplify your journey towards your dream job today.

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Commercial loan officer Resume Sample (Full Text Version)

David martinez.

Experienced commercial loan expert excelling in credit assessment and portfolio management. Seeking a dynamic commercial loan officer role to leverage my extensive 10+ years of industry expertise and enhance a respected financial institution's achievements.

GPA 4.0 (Top 1% of the Program)
The 2012 Academic Excellence Award winner

Work Experience

Developed and maintained relationships with local businesses, resulting in a 15% increase in loan portfolio within the first year of employment.
Provided exceptional customer service by promptly addressing client inquiries and concerns, resulting in a 90% client retention rate.
Analyzed and evaluated financial statements, credit histories, and cash flow projections to assess creditworthiness and determine optimal loan structures for commercial clients.
Actively sought out and pursued new business opportunities, including networking with industry professionals and attending trade shows, resulting in a substantial increase in loan portfolio and revenue.
Collaborated with internal teams, such as loan processors and credit analysts, to streamline loan processing time by 25%, improving overall customer satisfaction.
Cultivated and maintained relationships with a portfolio of clients, resulting in a 15% increase in loan volume and a 10% growth in client base.
Analyzed financial statements, credit histories, and collateral to assess creditworthiness and mitigate potential risks, leading to a reduction in loan delinquencies by 20%.

Certificates

As a Commercial Loan Officer, your role involves facilitating loans for businesses and commercial entities. You evaluate loan applications, assess the creditworthiness of applicants, and analyze financial information to determine the risk associated with each loan. Your responsibilities include building and maintaining relationships with clients, explaining loan terms and conditions, and ensuring compliance with lending regulations. You collaborate with underwriters and credit analysts to make informed lending decisions and contribute to the financial success of both your organization and the businesses you serve. Strong financial acumen, communication skills, and knowledge of lending practices are crucial in this role.

Tomáš Ondrejka

Tomas is the CMO and co-founder of Kickresume, the company that has already helped nearly 4,000,000 job seekers land their dream jobs. Although these days his role revolves mostly around Kickresume's marketing strategy, he still likes to share his extensive knowledge of resumes and personal branding with job seekers around the world. Also, due to the nature of his work, he consumes an unhealthy resume-related content on daily basis.

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Loan Officer

Loan Officer resume examples & templates

Loan officer job market and outlook

A great loan officer resume is like a great loan application: It ticks all the boxes and makes a compelling case. When you begin applying for your next loan officer job, you need exactly that to get that coveted interview.

Entry-level Loan Officer Translation missing: en.examples.resume_example

Get on your way to your desired new banking position with Resume.io. Our extensive resources include resume guides and resume examples for 300+ professions, plus an easy-to-use resume builder. With our assistance, you can create an application that will pay off.

This resume guide and the resume example it contains will cover the following topics:

What does a loan officer do?

How to write a loan officer resume (tips and tricks)
The best format for a loan officer resume
Advice on each section of your resume (summary, work history, education, skills)
Professional resume layout and design hints.

Loan officers are responsible for making decisions about lending money to applicants. That entails interviewing applicants, evaluating application paperwork, and recommending whether or not to extend a loan offer. They are part salespeople, part finance expert.

Commercial banks, credit unions, mortgage companies and other financial institutions all employ loan officers. Some loan officers assist potential real estate buyers in the application process to ensure that they qualify and receive a mortgage. They also decide the amount of money that applicants may borrow.

Loan officers also advise borrowers on financial matters such as loan processing procedures and repayment plans. They are responsible for obtaining and evaluating credit histories and other important financial information pertinent to the loan evaluation process and ensure that all loan agreements are in accordance with the financial institution’s policy.

The job market for loan officers depends upon the market in which they work. Commercial and industrial (C&I) and business loan applications are on the upswing, Reuters reported, although the need for loan officers is expected to remain flat with a 1% growth rate, well below the average for all professions.

The housing market is hot as well, but a lack of inventory and rising interest rates will flatten growth, Freddie Mac predicts. That trend adds to the flat market for loan officers.

The average base salary for a loan officer is $48,960, with a range of less than $34,000 to more than $75,000, Payscale reports, but most employers offer commissions and bonuses that increase income.

How to write a loan officer resume

Before a client starts an application, they need to know what documents are necessary. Likewise, before you begin writing your loan officer resume, you need to know what sections it includes. Your CV should contain the following elements:

The resume header
The resume summary (aka profile or personal statement)
The employment history section
The resume skills section
The education section

One more important tip on writing your resume: Remember that your loan officer resume is not a single document, but one you should adjust to speak directly to each different employer.

Choosing the best resume format for a loan officer

Application documentation follows a strict format and your loan officer resume should as well. Unless your career falls outside a typical path, we recommend the reverse chronological resume format. Recruiters and Applicant Tracking Systems (ATS) favor this style, in which you list your jobs from most recent on back.

Avoid using the functional resume format since it is usually reserved for highly technical or scientific skills. Depending on your work history, you may also consider one of the alternative or hybrid options we offer.

Pass the ATS test

ATS applications are used by most HR departments to scan and sort resumes. If you apply online, you are using an ATS to do so. The ATS takes the data from your loan officer resume and puts it into the HR system. It then uses algorithms to rank resumes based partly on keywords and phrases linked to the specific job.

To maximize your chances of getting seen by a person, incorporate keywords and phrases from the job listing into your resume.

Resume summary example: lend an air of confidence

The summary of your loan officer resume should confidently present your value as an employee. You have about four lines, to describe your customer service style and career standing. The main idea of this section is to sell your prospective employer on what you can do for them.

A great example to include in your summary, or profile, is the data pointing to your increase in good loans or, conversely, how you reduced unpaid loans. Although recruiters are more likely to look at your most recent position first, if they are sold on your experience, they will scan up to the top to read your profile.

Our summary resume sample below is a good guide, but if you want more ideas for this section – the only one using complete sentences – see our related banking and finance resume examples. We offer a general banker resume sample and a loan process resume example. If you are looking for career advancement ideas, try our financial analyst resume sample or our financial advisor resume sample.

Experienced and attentive Loan Officer with several years of experience providing excellent customer service to clients seeking loans. Adept at thoroughly analyzing the financial status of clients and helping them to apply for and obtain the best loans for their lifestyle. Bringing forth a track record of increasing client satisfaction ratings, while working in accordance with all company policies. Ambitious and driven to reach new levels of success.

Employment history sample: bank on your experience

It’s time to get to the meat of your loan officer resume. The employment history section details not what you have done, but how successful you have been in each role. Your prospective employer needs help and it’s your job to show how you fit the bill.

How did you save your employers money? Were you able to bring in more clients? What is your pull-through rate? Answer these questions in the bullet items for each job title.

Write this	Not this

Loan Officer, Weichert Companies, Richmond September 2015 - September 2019

Formed positive and trustworthy relationships with clients as we explored financial options that best suited their needs.
Evaluated the loan and credit needs of clients, taking into consideration all aspects of their financial background in relation to policies and regulations.
Worked collaboratively with loan team regarding the conditions of loans and rates.

Loan Officer, Clear Water Bank, Alexandria August 2013 - August 2015

Assessed loan requests and evaluated the needs of clients seeking loans.
Respected the confidentiality and privacy of a client's finances and handled loan rejections with professionalism and helpfulness.
Carefully reviewed all loan agreements to ensure their compliance with policies.
Worked collaboratively with loan team to ensure the accurate assessment of loan conditions.
Remained informed and up to date on finance knowledge by attending conferences and reading related publications.
Worked to provide optimal customer service on a daily basis.

Receptionist, Clear Water Bank, Richmond July 2011 - July 2013

Greeted patrons and clients with a friendly and helpful attitude.
Organized calendars and files, and developed a system of documentation for the files of clients.

CV skills example: appraise your attributes

Honing the skills section of your loan officer CV requires an examination of your attributes plus analysis of the specific skills your targeted employer seeks. Not all jobs are the same, so be careful that you choose the 4-7 top skills you have that match the role.

Loan officers need hard skills such as knowledge of financial software and analysis and soft skills such as sales ability and attention to detail. Start out by creating a master list of all your hard and soft skills. Then, choose those most relevant to each position.

Analytical Thinker
Financial Software
Excellent Communication Skills
Customer Service

Loan officer resume education example

In general, loan officers are required to have a bachelor’s degree, preferably in a related field such as finance or economics. Your education section comprises a listing of your academic achievements.

In addition to all your degrees and certifications, you may also include any industry honors or distinctions, but eliminate your high school diploma if you have earned higher than a bachelor's degree.

Bachelor of Finance, George Mason University, Fairfax August 2007 - May 2011

High School Diploma, Roosevelt High School, Yonkers September 2002 - May 2006

Resume layout and design: value the first impression

As a salesperson, you know that first impressions can make or break your business. The layout and design of your loan officer resume create that first impression during your job search. Since financial industries are mostly conservative, your best bet here is to keep your document neat and legible. To present a professional image, follow these guidelines:

Use easy-to-read fonts such as Georgia , Helvetica or Arial
Choose a serif type for headings and a sans serif for body type, or vice versa
Leave margins of at least half an inch
Keep you body type at 11 points
Avoid more than a splash of color

Choose from among our expertly-tested resume templates to get you started. Your time is too valuable to get bogged down in formatting when you could be applying for your next, great job.

Key takeaways for a loan officer resume

Loan officers combine the customer-service orientation of salespeople with the business savvy of finance experts.
Although the loan industry is picking up, the demand for loan officers will remain flat.
Your summary can make all the difference in whether you get the interview.
Check out our adaptable loan processor resume sample for more ideas on getting started.

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Commercial Loan Officer Resume Sample

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Work Experience

BB&T’s Leadership Program graduate or equivalent program at another financial institution, PSS III, Managing Interpersonal Relationships, Leadership Management
Experience in managing a commercial loan portfolio with a proven track record in sales ability/aptitude and business development
Demonstrated skills in organization, flexibility in scheduling and resourcefulness are required
Travel to develop and maintain customer base, ability to produce various documents on industry-related software required
Excellent verbal, written and interpersonal communication and skills
Excellent PC skills, including word processing and spreadsheets via Microsoft Office products as well as custom applications systems
Good credit knowledge of Bank’s credit underwriting policies and approval process for assigned loan
BB&T’s Leadership Development Program graduate or equivalent program at another financial institution
Interviews loan applicant and requests necessary information required to complete the loan application process
Requests applicant credit reports, background checks, reference checks, and other information pertinent to loan applicant's evaluation. Analyzes applicant financial status, credit, and property evaluation to determine feasibility of granting loan
Corresponds with or interviews applicant and/or creditors to resolve questions regarding application information
Compiles loan package, submits to loan committee for approval when appropriate, and facilitates negotiation of loan structure, with applicant, including fees, loan repayment options and other credit terms
Approves loan within specified limits or refers loan to loan committee for approval
Identifies and analyzes potential loan markets to develop prospects for commercial loans
Adheres to policies and procedures and makes proactive business decisions that limit the organization’s financial, regulatory, legal and reputational risks. Risk and compliance accountability in the employee’s purview is strong; adverse findings in audit, compliance, regulatory, quality control, loan and other reviews are minimal
Participates in developing lending and deposit business for the company. Calls on clients to expand existing business; calls on prospects seeking opportunities to expand the company's client base
Participated in company-sponsored and CRA activities that serve to support the mission and values of the organization, or devote time to an outside organization that respectably represents involvement of our staff members in the community and establishes a valuable partnership with our company. Actively seek out and pursue CRA eligible loans for BSJ. Additional Responsibilities
Proven sales experience in commercial lending or insurance
Established track record in an outbound or inbound originations environment
Present loan recommendations to appropriate approval authorities (Internal Loan Committee and Director’s Loan Committee)
Actively seeks out, identifies and solicits commercial loan business consistent with the bank’s objectives to increase the commercial loan portfolio
Conduct business development calls as defined in the bank’s business development call program
Manages individual loan portfolio through aggressive collection techniques and restructuring of problem loans to minimize loss of principal and interest
Reviews existing loan portfolio for documentation exceptions and periodic financial statements to maintain established quality standards consistent with bank policy

Professional Skills

Strong commerical real estate financial underwriting skills
Demonstrated sales and business development skills
Strong commercial real estate project due dilligence skills
Ability and willingness to learn on the job and improve commercial lending-related skills
Good analytical, credit analysis and loan structuring skills
Capital markets experience with non-bank lending platforms
Adaptability: Adapt positively to change; manage competing demands and effectively handle changes, delays and/or unexpected events with a positive attitude

How to write Commercial Loan Officer Resume

Commercial Loan Officer role is responsible for credit, analysis, lending, scheduling, finance, retail, training, reporting, insurance, travel. To write great resume for commercial loan officer job, your resume must include:

Your contact information
Work experience
Skill listing

Contact Information For Commercial Loan Officer Resume

The section contact information is important in your commercial loan officer resume. The recruiter has to be able to contact you ASAP if they like to offer you the job. This is why you need to provide your:

First and last name
Telephone number

Work Experience in Your Commercial Loan Officer Resume

The section work experience is an essential part of your commercial loan officer resume. It’s the one thing the recruiter really cares about and pays the most attention to. This section, however, is not just a list of your previous commercial loan officer responsibilities. It's meant to present you as a wholesome candidate by showcasing your relevant accomplishments and should be tailored specifically to the particular commercial loan officer position you're applying to. The work experience section should be the detailed summary of your latest 3 or 4 positions.

Representative Commercial Loan Officer resume experience can include:

Two to five years of similar or related experience, including time spent in preparatory positions
Professional experience in Commercial Lending required
Working knowledge of MS Office, including Word and Excel
Prepare initial sizing and underwriting on new loan opportunitites
Maintain an ongoing relationship with existing customer base
Assist with loan closing documentation and execution

Education on a Commercial Loan Officer Resume

Make sure to make education a priority on your commercial loan officer resume. If you’ve been working for a few years and have a few solid positions to show, put your education after your commercial loan officer experience. For example, if you have a Ph.D in Neuroscience and a Master's in the same sphere, just list your Ph.D. Besides the doctorate, Master’s degrees go next, followed by Bachelor’s and finally, Associate’s degree.

Additional details to include:

School you graduated from
Major/ minor
Year of graduation
Location of school

These are the four additional pieces of information you should mention when listing your education on your resume.

Professional Skills in Commercial Loan Officer Resume

When listing skills on your commercial loan officer resume, remember always to be honest about your level of ability. Include the Skills section after experience.

Present the most important skills in your resume, there's a list of typical commercial loan officer skills:

At least five years of experience in commercial lending
Commercial lending or sales experience
Prioritize work and juggle multiple simultaneous projects
Valid driver’s license and personal transportation
Prioritize, meet deadlines, and handle multiple tasks simultaneous in a fast-paced, diverse, and growth-oriented environment
Related CRE experience

List of Typical Experience For a Commercial Loan Officer Resume

Experience for vp, commercial loan officer resume.

Disclosure requirements are completed within Federal Time Limitations
Examines and evaluates applicant’s credit and financial history. This duty is performed daily, about 10% of the time
Takes applications for commercial loan business. Reviews customer financial condition and assesses the customer’s ability to re-pay the loan. Makes underwriting decisions within approval authority. Completes or directs completion of all loan documents and closes loans
Participates in developing lending and deposit business for the company. Calls on clients to expand existing business; calls on prospects seeking opportunities to expand the company’s client base
Monitors existing loan portfolio to maintain a high-quality asset base. Maintains up-to-date client files including current balance sheets, profit & loss statements, cash flow projections and all loan documentation

Experience For Senior Commercial Loan Officer Resume

Assists customers with any loan-related questions and concerns
Makes calls independently
Ethical Behavior: Model high standard of honesty, integrity, trust, and openness. Understand and follow through with appropriate standards of conduct and moral judgment; willing to act outside the norm when needed to adhere to ethical principles. Communicate and demonstrate actions in a consistent manner. Respect others, regardless of individual capabilities, agendas, opinions or needs
Negotiation: Negotiate with, convince, or influence others to take a course of action in order to achieve a specific result. Use appropriate interpersonal styles and communication methods to gain acceptance of an idea, plan, activity or product. Bring conflicts and disagreements into the open, when appropriate, and attempt resolution collaboratively through building consensus

List of Typical Skills For a Commercial Loan Officer Resume

Skills for vp, commercial loan officer resume.

Assisting in sales process and new client acquisition
Generous employee benefits, including immediate vesting of 401K match and tuition reimbursement
The ability to develop new business through direct sale and marketing of the Bank's lending programs
Self-motivated and independent with the ability to multi task, balance a demanding work load and meet critical deadlines
Personal and professional honesty, integrity and respect for all co-workers and Members
Ability and willingness to work both independently and as part of an established team

Skills For Senior Commercial Loan Officer Resume

Participation in sponsored and community-centered events
Works independently to develop new business with prospects that have moderate and large complex credit needs
Maintains established market presence
Gathers related financial and general business information, participates in credit decision process and communicates with prospects to close sales
Develops commercial business generally of moderate size and complexity as defined by the organization
Develops broader knowledge base of commercial and other Company products and services, including loan policy, documentation, structuring and regulatory requirements
Credit exposure & experience (up to 1 year)
Maintain a high level of confidentiality and integrity
Communicate verbally with personnel at all levels within and outside the organization

Skills For Commercial Loan Officer, Senior Resume

Fully understand, analyze and structure various types of commercial loan requests
Financial analysis work in commercial real estate
Professionalism: Exhibit a professional manner in dealing with others; work to develop and maintain cooperative and positive working relationships; represent the bank in a positive manner; maintain credibility with others
Quality Management: Adhere to guidelines, protocol, policies, and procedures and supervisory directives; improve and promote work quality; demonstrate accuracy, thoroughness, and attention to detail; strive to achieve strong results
Planning and Organization: Prioritize, organize and plan work; use time efficiently; and achieve results within time frames. Complete work in a timely, accurate manner and be conscientious about assignments and deadlines
Judgment/Problem Solving: Display ability and willingness to make sound decisions; identify and resolve problems in a timely and positive manner; exhibit sound judgment; appropriately handles both routine and non-routine situations
Mathematical skills: Ability to apply accounting, scheduling and budgeting, measurement and calculation math skills associated with lending activities for purposes of data analysis. Comfortable working with a variety of lending formulas and industry specific equations and formulas with accuracy
Networking: Build networks of useful relationships necessary to achieve positive results. Know how organizations work; cognizant of different roles and positions of power, and utilize this information to influence outcomes. Know how to work with people and organizations in order to reach successful outcomes

Skills For Commercial Loan Officer, OSF Resume

Understanding of banking regulations which impact commercial and real estate lending
Thorough understanding of accounting principles and how to apply them in assessing cash flow for the department’s more complex transactions
Thorough understanding of finance, including calculation of payments, rate, amortization, future value, and present value
Knowledge of commercial real estate and/or construction lending
Thorough knowledge of commercial loan documentation and general commercial loan underwriting principles
Represent Zions Bank in the community and respective marketing areas for the development and growth of new loan business
Initiative: Identify and seize opportunities; display an independent, energetic enthusiasm and readiness to undertake or experiment to improve the organization

Skills For Senior Commercial Loan Officer, OSF Resume

Be bonded required
Develop and service new customers
Strong skills in accurately assessing borrower’s cash flow, evaluating the business, the individual, and the global cash flow on both a historical and pro forma basis
Excellent skills in assessing borrower’s global cash flow on both a historical and pro forma basis, utilizing business tax returns and individual tax returns
Spread, analyze, underwrite, structure, negotiate and close the more complex transactions that the department encounters
Work independently on multiple projects simultaneously with limited oversight to meet the expectations of multiple advisors, client loan closing deadlines, and the requirements of Bank management and Bank regulators

Skills For VP / Commercial Loan Officer Resume

Generate and service a wide variety of Commercial Real Estate loans
Interview clients for various loan needs
Monitor credit performance and take necessary actions as needed
Develops new commercial DDA relationships and cross-sell other bank products and services
Refer clients and prospects to “non-bank” investment, insurance and mortgage related services
Experience in analyzing business financial statements and real estate project related data, negotiating loan terms and structuring all types of commercial loans
Services existing portfolio as assigned
Approves loans in compliance with lending authority as designated in the Loan Policy

Skills For Agribusiness Commercial Loan Officer Resume

Coordinate deposit corss-selling with deposit specialists and TM
Maintain a working knowledge of all bank products and services
Identify and develop profitable relationships with potential new customers by participating in civic and community activities
Be proactive in identifying potential business opportunities outside the Commercial Department and refer to appropriate department or officer
Highly motivated with ability to work in a fast-paced environment
Underwrite and evaluate more complex loan transactions. Write or oversee preparation of accurate credit approval presentations (CAPs) by analyzing and interpreting financial information and tax returns on prospective and existing borrowers, to include global cash flow on a historical and pro forma basis
Assess the general creditworthiness of prospective borrowers and determine whether the transaction merits moving forward through the full underwriting process

Skills For Senior Agribusiness Commercial Loan Officer Resume

Communicate and follow up with clients, advisors, and prospects with questions about financial aspects of the transaction, and negotiate the structure with the client/prospect
Make recommendations to appropriate approval authorities, including Internal Loan Committee, and Directors Loan Committee, and exercise individual lending authority when applicable.(Estimated at $50,000 to $100,000)
Coordinate loan closings by overseeing Loan Ops, Credit Analysts, Advisor, Client, Title Companies, Appraisers, Legal Counsel, and others involved in the closing process
Develop local business if deemed necessary by Management
Although no formal supervisory responsibility exist from a direct report standpoint, the incumbent assists in the ongoing training of the credit analysts and loan operations specialists by providing some direction, guidance, and coaching to them when editing Spreads, CAPs, Annual Reviews, and reviewing loan documentation
Develops a customer portfolio to include commercial loans, construction loans, lines of credit, consumer loans as needed and deposit products
Attends loan committee as required, with ability to provide structural feedback to the committee

Skills For Commercial Loan Officer Resume

Processes loan maturities and renewals
Prepares, with the assistance of the Credit Department, loan presentations as necessary and present to Loan Committee
Works closely with Loan Assistant to properly document and maintain loan and collateral files
Works with Cash Management Sales Officer to cross sell cash management products
Represents the Bank at various after hours functions to further the Bank’s reputation and reach in the community
Performs job functions in compliance with all company policies, federal and state rules and regulations as applicable to the position, including, but not limited to BSA/AML, OFAC, and GLBA/privacy rules
Screen new loan opportunities
Work with Asset Management team to monitor loan pools
Maintain an aggressive customer call schedule
Assist and respond to new loan requests within in, a timely manner, by either approving, declining (if within lending limitations) or submitting recommendation to loan committee
Make sure details on loan documentation are complete and correct prior to closing to insure accuracy and are in compliance with state and federal regulations, bank policy, and compliance regulations
Monitor loan delinquency and proactively identify credit problems. Take preemptive measures by managing loan accounts for current documentation, performance and total bank relationship. Respond promptly to exception and compliance error reporting to prevent or minimize potential losses

Related to Commercial Loan Officer Resume Samples

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Loan Officer Resume Example

Resume Examples

Common Tasks & Responsibilities
Top Hard & Soft Skills
Action Verbs & Keywords
Resume FAQs
Similar Resumes

Common Responsibilities Listed on Loan Officer Resumes:

Analyze financial data and credit reports to determine loan eligibility
Negotiate loan terms and conditions with borrowers
Prepare loan applications and submit to underwriting for approval
Monitor loan applications throughout the approval process
Communicate with borrowers and other parties to ensure timely completion of loan documents
Maintain accurate records of loan applications and documents
Ensure compliance with all applicable laws and regulations
Provide customer service to borrowers throughout the loan process
Develop and maintain relationships with referral sources
Stay up to date on industry trends and changes in regulations
Generate new business through marketing and networking activities
Provide guidance and advice to borrowers on loan options and repayment plans

Speed up your resume creation process with the AI-Powered Resume Builder . Generate tailored achievements in seconds for every role you apply to.

Loan Officer Resume Example:

Generated $5M in new business through networking and referral sources, exceeding quarterly sales goals by 25%.
Negotiated loan terms and conditions with borrowers, resulting in a 15% increase in loan approvals and a 10% decrease in delinquency rates.
Analyzed financial data and credit reports to determine loan eligibility, maintaining a 95% accuracy rate and ensuring compliance with all applicable laws and regulations.
Developed and implemented a new loan application process, reducing processing time by 30% and increasing customer satisfaction scores by 20%.
Maintained accurate records of loan applications and documents, resulting in a 98% audit compliance rate and avoiding any regulatory fines.
Provided guidance and advice to borrowers on loan options and repayment plans, resulting in a 90% customer retention rate and positive feedback from borrowers.
Monitored loan applications throughout the approval process, ensuring timely completion of loan documents and reducing loan processing time by 25%.
Stayed up to date on industry trends and changes in regulations, implementing new compliance procedures and avoiding any regulatory violations.
Provided exceptional customer service to borrowers throughout the loan process, resulting in a 95% customer satisfaction rate and positive feedback from borrowers.
Sales and networking skills
Loan negotiation and structuring
Financial analysis and credit assessment
Regulatory compliance and risk management
Process improvement and efficiency
Record keeping and documentation
Customer service and relationship management
Loan product knowledge and advising
Industry trend analysis and adaptability
Time management and organization
Communication and interpersonal skills
Problem-solving and decision-making

Top Skills & Keywords for Loan Officer Resumes:

Hard skills.

Credit Analysis
Loan Origination and Processing
Financial Analysis and Underwriting
Risk Assessment and Mitigation
Compliance and Regulatory Knowledge
Loan Documentation and Closing
Customer Service and Relationship Management
Sales and Business Development
Mortgage Industry Knowledge
Loan Structuring and Pricing
Loan Portfolio Management
Communication and Interpersonal Skills

Soft Skills

Attention to Detail and Accuracy
Customer Service and Relationship Building
Analytical and Problem-Solving Skills
Time Management and Prioritization
Adaptability and Flexibility
Sales and Marketing Skills
Decision Making and Strategic Planning
Teamwork and Collaboration
Conflict Resolution and Negotiation
Empathy and Customer-Centric Mindset
Trustworthiness and Ethics

Resume Action Verbs for Loan Officers:

Facilitated
Collaborated
Strategized
Communicated
Coordinated

Generate Your Resume Summary

sample resume for business loan application

Resume FAQs for Loan Officers:

How long should i make my loan officer resume, what is the best way to format a loan officer resume, which keywords are important to highlight in a loan officer resume, how should i write my resume if i have no experience as a loan officer, compare your loan officer resume to a job description:.

Identify opportunities to further tailor your resume to the Loan Officer job
Improve your keyword usage to align your experience and skills with the position
Uncover and address potential gaps in your resume that may be important to the hiring manager

Complete the steps below to generate your free resume analysis.

Related Resumes for Loan Officers:

Loan processor, bank teller, financial analyst, junior financial analyst, senior financial analyst, risk management, finance manager, investment banker.

• Consistently exceeded individual targets by closing an average of 25 loans monthly, totaling over $7.5 million in loan value
• Improved client satisfaction ratings by 20% through meticulous follow-ups and personalized financial advice
• Streamlined application verification processes resulting in a 15% decrease in approval turnaround time
• Initiated a partnership with 10 new realtors, expanding the company's referral network substantially
• Spearheaded a cross-departmental task force to resolve occupancy fraud issues, reducing related cases by 30%
• Mentored a team of 5 junior loan advisors, fostering a collaborative environment that boosted team efficiency
• Managed 150+ loan files, leading to a $50 million portfolio with a less than 1% default rate
• Implemented an automated documentation tracking system, enhancing operational productivity by 25%
• Trained new staff on loan origination software, contributing to a 10% increase in team performance
• Negotiated with lenders to secure favorable loan terms for clients, saving them an average of $5,000 per loan
• Orchestrated the timely processing and approval of loans, beating industry standard closing times by 5 days
• Assisted in the closing of over 200 mortgage loans totaling approximately $30 million in my first year
• Performed in-depth analysis on applicants' financial statuses, reducing loan default risk by 20%
• Developed a comprehensive customer follow-up strategy that improved repeat client rate by 15%
• Collaborated with loan officers to identify and resolve documentation issues promptly

5 Loan Officer Resume Examples & Guide for 2024

Your loan officer resume must clearly highlight your experience in the financial industry. It should showcase your proficiency in evaluating loan applications and understanding credit reports. Ensure you include your knowledge of compliance with financial regulations on your resume. Demonstrate your ability to build and maintain relationships with clients to foster trust and repeat business.

All resume examples in this guide

Resume Guide

Resume Format Tips

Resume Experience

Skills on Resume

Education & Certifications

Resume Summary Tips

Additional Resume Sections

Key Takeaways

As a loan officer, your resume may struggle to showcase your ability to build strong client relations amidst strict financial regulations. Our guide provides tailored strategies to highlight your interpersonal skills and regulatory expertise, giving you the edge in a competitive job market.

Format your loan officer resume to ensure that it balances professionalism with creativity, and follows the best practices.
Match the loan officer job requirements by including industry keywords on your resume.
Use various resume sections to showcase your skills and achievements to answer why you're the best candidate for the loan officer role.

Take inspiration from leading loan officer resume examples to learn how to tailor your experience.

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Best practices for the look and feel of your loan officer resume

Before you even start writing your loan officer resume, first you need to consider its layout and format .

What's important to keep in mind is:

The reverse-chronological resume is the most widely used format to present your experience, starting with your latest job.
Your loan officer resume header needs to include your correct, professional contact details. If you happen to have a professional portfolio or an updated LinkedIn profile, include a link to it.
Ensure your resume is no longer than two pages - you don't have to include irelevant experience on your resume just to make it look longer.
Unless specified otherwise, submit your resume in the most popular format, the PDF one, as this will ensure your loan officer resume isn't altered.

Upload & Check Your Resume

Drop your resume here or choose a file . PDF & DOCX only. Max 2MB file size.

If you failed to obtain one of the certificates, as listed in the requirements, but decide to include it on your resume, make sure to include a note somewhere that you have the "relevant training, but are planning to re-take the exams". Support this statement with the actual date you're planning to be re-examined. Always be honest on your resume.

Loan Officer resume sections to answer recruiters' checklists:

Header to help recruiters quickly allocate your contact details and have a glimpse over your most recent portfolio of work
Summary or objective to provide an overview of your career highlights, dreams, and goals
Experience to align with job requirements and showcase your measurable impact and accomplishments
Skills section/-s to pinpoint your full breadth of expertise and talents as a candidate for the Loan Officer role
Education and certifications sections to potentially fill in any gaps in your experience and show your commitment to the industry

What recruiters want to see on your resume:

Demonstrated knowledge of lending laws and regulations
History of achieving sales targets and cultivating client relationships
Experience with loan underwriting, approval, and processing procedures
Proficiency in banking software and loan servicing platforms
Strong analytical skills and attention to detail for risk assessment

Writing your loan officer resume experience

Within the body of your loan officer resume is perhaps one of the most important sections - the resume experience one. Here are five quick tips on how to curate your loan officer professional experience:

Include your expertise that aligns to the job requirements;
Always ensure that you qualify your achievements by including a skill, what you did, and the results your responsibility led to;
When writing each experience bullet, ensure you're using active language;
If you can include a personal skill you've grown, thanks to your experience, this would help you stand out;
Be specific about your professional experience - it's not enough that you can "communicate", but rather what's your communication track record?

Wondering how other professionals in the industry are presenting their job-winning loan officer resumes? Check out how these loan officer professionals put some of our best practices into action:

Managed a portfolio of over 250 mortgage loans, ensuring compliance with lending regulations and maintaining a less than 0.5% default rate.
Developed and maintained relationships with local real estate agents, resulting in a 20% increase in referred loan applications.
Utilized advanced mortgage loan software to streamline application processes, which improved customer satisfaction scores by 15%.
Successfully closed an average of $50 million in residential loans annually, consistently meeting and exceeding sales targets by at least 10%.
Mentored and trained a team of junior loan officers on client engagement strategies and loan processing efficiencies.
Advised clients on complex loan structures, leading to securing high-value loans for premium property investments.
Specialized in FHA and VA loans, aiding over 300 military families in obtaining affordable financing for their homes.
Implemented a customer follow-up system which increased repeat customer rate by 30% within a 3-year period.
Negotiated loan terms with prospective clients, effectively reducing risk for the lender while increasing approval rates by 25%.
Orchestrated the integration of AI-driven risk assessment tools which reduced the loan processing time by 40%.
Spearheaded a digital marketing campaign for loan products that amplified online applications by 50% within six months.
Forge strategic partnerships with fintech companies, enhancing our technology stack and offering competitive loan products.
Championed the launch of a new commercial loan program that delivered $100 million in loans within the first year.
Analyzed and interpreted complex financial data to present loan opportunities to the credit committee, achieving a 90% approval rate.
Collaborated with underwriters to tailor loans to clients' specific circumstances, thus expanding the commercial loan portfolio by 35%.
Revamped underwriting criteria in alignment with market changes, which preserved loan quality during an economic downturn.
Grew personal loan book of business by 50% in four years through effective networking and client satisfaction initiatives.
Initiated a financial literacy workshop for first-time homebuyers that strengthened community relations and led to a 15% uptick in approved loans.
Instrumental in a project that automated the appraisal review process, which cut operational costs by 20% while maintaining loan quality.
Facilitated inter-departmental cooperation to ensure seamless loan processing, resulting in a customer satisfaction score increase from 85% to 95%.
Oversaw a cross-selling strategy that boosted ancillary financial product sales by 40%, deepening customer relationships and retention.
Piloted a regional initiative to promote HELOC products that grew the home equity line portfolio by $25 million.
Conducted thorough market analysis to identify and capitalize on refinancing opportunities, leading to a 60% increase in refinance loan volume.
Credited for designing loan structures that accommodated high-net-worth clients' unique financial needs, attracting a new segment of clientele.

Quantifying impact on your resume

Include the total value of loans you have managed to highlight experience with significant sums of money.
Detail the percentage growth in loan applications or approvals year-over-year to demonstrate sales and marketing success.
List the number of clients you've managed or advised to showcase customer service and relationship management abilities.
Mention the reduction in processing time for loan applications you've achieved through efficiency improvements.
Quantify the decrease in default rates under your management to prove effective risk analysis and management.
Cite specific rankings or awards you've earned for your performance to establish a track record of excellence.
State the number of cross-sells or up-sells you've accomplished to display your ability to contribute to business growth.
Record the scale of the portfolios you've worked with by providing average loan sizes to underline industry expertise.

Action verbs for your loan officer resume

No relevant experience - what to feature instead

Suppose you're new to the job market or considering a switch in industry or niche. In such cases, it's common to have limited standard professional experience . However, this isn't a cause for concern. You can still craft an impressive loan officer resume by emphasizing other sections, showing why you're a great fit for the role:

Emphasize your educational background and extracurricular activities to demonstrate your industry knowledge;
Replace the typical experience section with internships or temporary jobs where you've gained relevant skills and expertise;
Highlight your unique skill set, encompassing both technological and personal abilities;
Showcase transferable skills acquired throughout your life and work experiences so far.

Creating your loan officer resume skills section: balancing hard skills and soft skills

Recruiters hiring for loan officer roles are always keen on hiring candidates with relevant technical and people talents. Hard skills or technical ones are quite beneficial for the industry - as they refer to your competency with particular software and technologies. Meanwhile, your soft (or people) skills are quite crucial to yours and the company's professional growth as they detail how you'd cooperate and interact in your potential environment. Here's how to describe your hard and soft skill set in your loan officer resume:

Consider what the key job requirements are and list those towards the top of your skills section.
Think of individual, specific skills that help you stand out amongst competitors, and detail how they've helped you succeed in the past.
Look to the future of the industry and list all software/technologies which are forward-facing.
Create a separate, technical skills section to supplement your experience and further align with the loan officer job advert.

Top skills for your loan officer resume:

Credit Analysis

Financial Analysis

Risk Assessment

Loan Origination Software Proficiency

Regulatory Compliance Knowledge

Underwriting Guidelines Proficiency

Financial Product Knowledge

Document Verification

Interest Rate Structure Understanding

Debt-to-Income Ratio Calculation

Customer Service

Problem Solving

Communication

Decision Making

Attention to Detail

Negotiation

Time Management

Sales Skills

Adaptability

Highlight any significant extracurricular activities that demonstrate valuable skills or leadership.

Showcase academic background with education and certifications' sections

Listing your education and certifications should be a rudimentary part of your resume writing.

Including your relevant academic background - in the form of your higher education degree and niche-specific certificates - will prove knowledge of the industry.

For your education section:

Start by including your degree, followed by start and graduation dates, as well as the institution;
You could include relevant coursework, major/minor , or GPA, only if your've just graduated from college or if this information would further support your application;
If you have an "ongoing" degree, you can still list it in case you think your diploma can impress recruiters or it's required;

Follow a similar logic for your certifications section by listing the institution, alongside dates you've obtained the certificate. For some of the most recent and relevant industry certificates , check out the next part of our guide:

The top 5 certifications for your loan officer resume:

Certified Mortgage Banker (CMB) – Mortgage Bankers Association (MBA)
Residential Certified Mortgage Servicer (RCMS) – Mortgage Bankers Association (MBA)
Certified Loan Servicing Professional (CLSP) – MBA Education
Certified Mortgage Compliance Professional (CMCP) – MBA Education
Certified Mortgage Lender (CML) – Mortgage Bankers Association (MBA)

If you're in the process of obtaining your certificate or degree, list the expected date you're supposed to graduate or be certified.

How to List GPA on Your Resume
How to Put Cum Laude on Your Resume

The summary or objective: focusing on the top one-third of your resume

It's a well-known fact that the top one-third of your loan officer resume is the make-it-or-break-it moment of your application. The resume summary and objective could help you further build up your professional profile.

If you have plenty of career highlights behind your back, use the resume summary . The loan officer summary immediately focuses recruiters' attention on what matters most within your experience.
The resume objective is the perfect choice for balancing your career achievements with your vision. Use it to state precisely how you see yourself in a couple of years' time - as part of the company you're applying for.

Both the resume summary and resume objective can be your value pitch to potential employers: answering what makes your application unique and the top choice for the loan officer role. They both have to be specific and tailored - as there's no one-size-fits-all approach to writing your loan officer summary or objective. Use the loan officer examples below as a starting point:

Resume summaries for a loan officer job

With over a decade of dedicated experience in commercial lending at a top-tier bank in New York, this seasoned professional has consistently exceeded quarterly loan origination targets by 20%. Expert in risk assessment, financial analysis, and regulatory compliance, with a track record of cultivating long-term client relationships, leading to a 95% client retention rate.
Accomplished financial advisor with 8 years of experience transitioning into the loan officer domain, bringing a wealth of knowledge in personal finance management, investment strategies, and client service excellence. Holds a CFA certification and has successfully guided 150+ clients through complex financial planning, demonstrating acute analytical skills and attention to detail.
Esteemed secondary education teacher seeking a shift to the financial sector as a loan officer, equipped with impeccable communication and interpersonal skills developed over 7 years of shaping young minds. Brings a unique perspective in client education, having significantly improved student performance by 40% through innovative teaching methods and individualized attention.
Guided by a passion for helping individuals achieve their financial goals, this professional leverages 5 years of client-facing experience in the retail banking industry to expertly navigate the nuances of loan processing. Known for an impressive track record of processing loan applications 30% faster than the team average, all while maintaining rigorous accuracy and compliance standards.
Ambitious newcomer to the financial industry, eager to apply recent Finance degree and internship experience where analytical acumen, precise communication, and a dedication to upholding the highest standards of customer service were honed. Aims to leverage academic understanding of financial principles and a fresh perspective to deliver exceptional satellite service.
Passionate about starting a career in loan management, this recent MBA graduate brings to the table advanced financial modeling expertise, a robust understanding of economic trends, and a keen ability to assess and mitigate risks. Aspires to apply strong quantitative skills and deep theoretical knowledge to ensure prudent loan portfolio management in a dynamic banking environment.

Recruiters' favorite additional loan officer resume sections

When writing your loan officer resume, you may be thinking to yourself, " Is there anything more I can add on to stand out? ".

Include any of the below four sections you deem relevant, to ensure your loan officer resume further builds up your professional and personal profile:

Books - your favorite books can showcase that you have an excellent level of reading comprehension, creativity, and outside the box thinking;
Languages - make sure you've included your proficiency level alongside a relevant certificate or a form of self-assessment;
Website link - ensure you've curated your most relevant and recent projects in your professional portfolio (and that the link is a part of your resume header) to support your application;
Passions - showing recruiters how you spend your time outside of work and what activities or causes you're invested in.

Key takeaways

We've reached the end of our loan officer resume guide and hope this information has been useful. As a summary of our key points:

Always assess the job advert for relevant requirements and integrate those buzzwords across various sections of your loan officer resume by presenting tangible metrics of success;
Quantify your hard skills in your certificates and skills section, while your soft skills in your resume achievements section;
Ensure you've added additional relevant experience items, such as extracurricular activities and projects you've participated in or led;
Use both your resume experience and summary to focus on what matters the most to the role: including your technical, character, and cultural fit for the company.

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Resume examples & templates, we have curated resumes for more than 500 designations and professions below. resumes are grouped by industry and domains. scroll down and you might just find the perfect resume example for your designation or area of expertise. we are constantly updating the list., loan officer - resume example & template, description.

Loan officers assess and approve commercial, real estate, and credit loans. They are experts at assessing a loan applicant's financial situation. Updating account records and analysing loan files are among the responsibilities. They work for commercial banks, mortgage businesses, and credit unions, among other institutions. Personal and commercial loans are reviewed, authorised, and recommended for approval by loan officers. Loan officials interview potential borrowers to assess their creditworthiness. Mortgage businesses, commercial banks, credit unions, and other financial institutions are common places for them to work.

Loan Officer - Resume Example & Template

Resume of Loan Officer in Text Format

PRAKRITI SINGHAL

Phone Number: 9953776253 | Email : [email protected] | LinkedIn: linkedin.com/company/getsetresumes

LOAN OFFICER -leveraging 13+ years of experience

Highly accomplished Senior Loan Officer with 13+ years of expertise drafting loan documentation, managing, and monitoring transactions, and evaluating applicants' financial situations. Excellent communicator with a professional demeanour, strong analytical ability, and strong time management skills. Demonstrated ability to handle sensitively highly confidential personal and financial information. Identified and executed possibilities to accelerate growth and increase profit contributions. Experienced in working in a fast-paced setting requires strong organizational abilities and meticulous attention to detail.

PROFILE SUMMARY

Proficient in verifying the information provided on applications to obtain more information if missing data or mistakes are present
Highly skilled in communicating with customers to help them choose the best mortgage loan they can afford
Adept at meeting with loan applicants to identify their needs and collect information for loan applications.
Experienced in analyzing active loan files on a regular basis and recommending solutions to speed up the loan process.
Competent in reviewing new laws and regulations that influence business lending within the financial institution and makes recommendations to management when necessary.
Accomplished in completing loan contracts and teaching clients on policies and regulations.

CORE COMPETENCIES

Closing Procedures
Federal Lending Regulations
Financial Management
Conventional & Government Guidelines
FHA Guidelines
Quantitative Analysis
Customer service
Financial Advising
Development Financial Analysis

PROFESSIONAL EXPERIENCE

Greenlam Industries ltd, Noida | Jan. 2019 – Present

Senior Loan Officer

Approve loans for various client bases within specified limits, and refer loan applications outside those limits to management for approval.
Meet with applicants to obtain information for loan applications and to answer questions about the process.
Analyze applicants’ financial status, credit, and property evaluations to determine the feasibility of granting loans.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information review and update credit and loan files.
Review loan agreements to ensure that they are complete and accurate according to policy.
Work with clients to identify their financial goals and to find ways of reaching those goals. Confer with underwriters to aid in resolving mortgage application problems.
Negotiate payment arrangements with customers who have delinquent loans. Market bank products to individuals and firms, promoting bank services to meet customers’ needs.
Use expertise to educate clients on a portfolio of services, regulations, and procedures in addition to mentoring new loan officers.
Obtain customer applications, quote points, and rates, and follow up with registration lock-in.
Responsible for reviewing, analyzing, and underwriting personal loan, credit cards, and auto loan applications at a senior level.
Review credit applications in a timely manner to determine the creditworthiness of the individual.
Analyze the current financial position of members to determine the degree of risk involved in extending credit or lending money where applicable.
Review credit reports of existing and new members to help mitigate fraudulent accounts and loans.

Sahni Natarajan & Bahl, Greater Noida | Apr. 2015 – Dec 2018

Senior Loan Officer

Met with applicants to obtain information for loan applications and to answer questions about the process.
Reviewed loan agreements to ensure that they are complete and accurate according to policy.
Approved loans within specified limits, and refer loan applications outside those limits to management for approval.
Negotiated payment arrangements with customers who have delinquent loans. Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
Prepared or assisted in preparing simple to complex tax returns for individuals or small businesses. Interview clients to obtain additional information on taxable income and deductible expenses and allowances.
Reviewed financial records such as income statements and documentation of expenditures to determine forms needed to prepare tax returns.
Checked data input or verify totals on forms prepared by others to detect errors in arithmetic, data entry, or procedures.

Genius Consultants Limited, Greater Noida | Sept. 2013 - Aug. 2015

Jr. Loan Officer

Analyzes and evaluates loan requests and prepares a written submission for consideration by underwriters.
Identifies problems or potential problems with credit information and coordinates with the necessary party to resolve the problems.
Meets with applicants whose loans are denied and explains reasons and alternatives. Assumes responsibility for establishing and maintaining effective and professional relations with members.
Proactively assesses members’ financial needs for the purpose of formulating a financial solution and delivering an effective variety of credit union products and services in order to help the member succeed financially.
Discusses loan alternatives, credit criteria, interest rates, and loan documentation in such a manner to elicit a positive response from members.
Able to maintain a pipeline, develop a referral network, suggest alternate channels and cross-sell products and services to accomplish quotas all while maintaining superior service.
Recorded applications for loan and credit, loan information, and disbursements of funds using computers.

Coppergate Consultants Private Limited, Greater Noida | Mar. 2011 - Aug. 2013

Junior Loan Officer

Executed the loan origination process, including ordering credit reports, appraisals, and preliminary title reports..
Ensured the correct amount of cash was given and received for transactions.
Assisted customers with the consolidation of debts or cash-out refinance in order to reflect savings and reduce debt to income ratio.
Issued business loans, project loans, mortgage loans and managed them with the assigned loan portfolio.
Improves loan applications and documentation by informing applicants of additional requirements.
Investigated and interpreted personal data provided by the customer to resolve discrepancies.
Collection and recording of supporting documentation from customers and other relevant parties per bank regulations.

Hewlett Packard Careers, Gurgaon | Mar. 2009 - Apr. 2011

Assistant Loan Officer

Assembled and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
Interviewed loan applicants in order to obtain personal and financial data, and to assist in completing applications.
Provide customers with the various loan types and credit options available to them.
Ensured borrower/client retention by providing strategic investment recommendations based on evaluation of credit report.
Initiated loan applications and process them with various lenders and programs available for the borrowers.
Researched and analyzed appropriate loan programs to match borrowers’ profiles.

ACADEMIC CREDENTIALS

Education – MBA (Accounting and Finance) | VIPS | 2009

BBA, Indraprastha University | 2007

Certificates - Certified Financial Management Professional, Financial Management Association

PERSONAL DOSSIER

Languages Known: English & Hindi

~References and other documents available upon request ~

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Small Business

How I Secured $25,000 of Funding for My Startup

Published on June 28, 2024

By: Jordi Lippe-McGraw

I was seeking about $20,000 to launch my business of travel-inspired diaper bags.
Community-based lender Greater Newark Enterprises Corporation offered me the funds as part of an SBA loan program.
It's important to have a solid business plan (even if you're just starting out) to secure funding.

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Starting a business is no small feat, especially when your dream requires substantial capital to lift off the ground. I embarked upon creating a travel-inspired bag line called PAK Rêve, but like many budding entrepreneurs, I hit a financial roadblock: I needed funds -- about $22,000 -- to place my first large order. After navigating the tricky waters of start-up financing, I discovered a path less trodden but incredibly rewarding: Securing a loan through a community-based lender.

Finding the right lender

These setbacks were disheartening, but they steered me toward the Small Business Administration (SBA) loan program . Even with the SBA's backing, the approvals were tough to come by until I discovered Greater Newark Enterprises Corporation (GNEC).

GNEC is not your ordinary lender. As a Community Development Financial Institution, its approach is holistic -- it looks beyond credit scores to understand the entrepreneur's full story. Its mission is to assist entrepreneurs in becoming economically stable, focusing on overcoming barriers to funding, especially those faced by minority groups.

What particularly aligned with my needs was GNEC's Women Entrepreneur Fund. This program supports small businesses that are at least 51% women-owned, offering loans between $1,000 and $30,000 at reduced interest rates of 5.99%. The eligibility stress test at a rate of 10.99% ensures that applicants are resilient enough financially to endure economic fluctuations.

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Consider these business credit cards that offer a convenient and efficient way to separate personal and business expenses, simplifying accounting and tax reporting.

Additionally, business cards can provide valuable perks such as rewards points, cashback, and expense tracking tools, enhancing financial management and the potential to help save money in the long run.

Offer	Our Rating	Welcome Offer	Rewards Program	APR
On Chase's Secure Website.	Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.	Earn $750 bonus cash back Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.	Earn unlimited 1.5% cash back on every purchase Earn unlimited 1.5% cash back on every purchase made for your business	0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A 18.49% - 24.49% Variable
On Chase's Secure Website.	Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.	Earn 100,000 bonus points Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.	Earn 3 points per $1 in select business categories Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn.	N/A Purchases: N/A Balance Transfers: N/A 21.24%-26.24% Variable

Offer

Our Rating

Welcome Offer

Rewards Program

APR

On Chase's Secure Website.

Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.

Earn $750 bonus cash back Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.

Earn unlimited 1.5% cash back on every purchase Earn unlimited 1.5% cash back on every purchase made for your business

0% Intro APR on Purchases

Purchases: 0% Intro APR on Purchases, 12 months

Balance Transfers: N/A

18.49% - 24.49% Variable

On Chase's Secure Website.

Earn 100,000 bonus points Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.

Earn 3 points per $1 in select business categories Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn.

N/A

Purchases: N/A

Balance Transfers: N/A

21.24%-26.24% Variable

The application process

Applying for a loan through Greater Newark Enterprises Corporation was a detailed and meticulous process, reflecting the serious commitment both the lender and borrower make. The application started online, a convenient but thorough procedure that required various pieces of critical business and personal information.

The online application was the first step in formalizing my funding request. It required the basic details of my business, such as the business name, the type of business, and the Industry NAICS Code, which classifies the business according to the North American Industry Classification System. This information helps lenders understand the sector in which the company operates and assess market risks associated with that sector.

Beyond the basic business information, the application process required several more pieces of documentation:

Financial worksheet: This detailed my business's financial status, including assets, liabilities, revenue streams, and other financial metrics that provide a snapshot of the business's health and potential for growth.
Business plan: To secure a loan from GNEC, I needed to present a solid business plan and financial projections. The process involved detailing every aspect of my business, from market analysis to operational strategies and precise financial forecasts. This rigorous exercise did more than just prepare me for the loan application; it equipped me with a clearer vision of managing and scaling my business efficiently.
Credit score authorization: I had to permit GNEC to pull my credit report. Credit scores are often critical in lending decisions, but GNEC's approach considers more than just this number.
Government-issued ID: I needed a copy of a government-issued ID to verify my identity, which is a standard requirement across most financial transactions.

This is not an exhaustive list of everything I provided, but it gives a general idea. Each lender's requirements can vary slightly, and navigating through them can be time-consuming and sometimes daunting. The application process is not just a formality but a significant step in building a financial relationship. It requires attention to detail and accuracy in providing all requested information and documentation.

Tips on securing community-based lending for your business

Navigating the world of small business financing can be overwhelming. Here are some practical steps to secure community-based lending:

Research local CDFIs: Community Development Financial Institutions (CDFIs) offer targeted financial services to under-served markets and populations. They are invaluable resources for entrepreneurs who might not qualify for traditional loans.
Prepare a detailed business plan: This is your roadmap and pitch rolled into one. It should compellingly articulate your business idea, market potential, operational strategy, and detailed financial projections.
Explore the SBA's resources: The Small Business Administration is a treasure trove of information and support. You can use tools like their lender match program, which works as follows:
Describe your needs: Spend about five minutes answering questions about your business.
Get matched in two days: You'll receive a curated list of lenders interested in your proposal.
Talk to lenders: Discuss rates, terms, and conditions, and compare what each lender offers.
Apply for a loan: Once you choose a lender, submit your application and necessary paperwork.

Additionally, you can google "SBA community-based lenders" in your area or check the SBA's list of microlenders to find potential financing sources.

For those standing where I once was, remember that community-based lenders like GNEC can offer more than just money in your business bank account -- they provide a network of support tailored to help minority and women entrepreneurs thrive.

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Our Research Expert

Jordi Lippe-McGraw is a freelance personal finance writer who has appeared in publications such as Forbes, The Wall Street Journal, TODAY, and Saving for College. In addition to personal finance, Jordi has a passion for travel. She's visited all 7 continents and over 55 countries, writing for outlets such as Travel + Leisure and Conde Nast Traveler.

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Home >> #realtalk Blog >> Manage a business >> Financing Your Dream…

Financing Your Dream: How to Get a Loan to Start a Business

By Christine Umayam

You’ve dreamt it, you’ve designed it, you’ve refined it, and now you’re ready to take the leap into starting a small business. It’s an exciting endeavor, and you’ve put in the work to make it happen. But the next question is, where do you get the money to start?

A lack of funds at kickoff can often cause people to put their business on pause, because you need capital to keep the ball rolling. Yet there’s a relatively simple solution for this—many small business owners get loans or lines of credit when first starting out to help them build a foundation, and you can too!

There are many options out there for entrepreneurs to get a loan to start a business , including traditional bank loans, lines of credit, and alternative options like crowdfunding and small business grants.

We’ll break down the types of loan options available to you, the loan application process, and what lenders are looking for when evaluating applications, including the importance of credit scores. A good personal credit score can open doors to competitive loan offers, while a strong business credit history can significantly enhance your loan application.

Let’s dive in and you’ll be financing your dream in no time.

Get your team in sync with our easy-to-use, all-in-one employee app.

What types of business loans are out there?

When you start researching how to get a loan to start a business, the traditional options will turn up first. You can usually secure a business loan from any bank, credit union, or other financial institution that offers them. They are also typically guaranteed by the U.S. Small Business Administration (SBA) , which partners with lenders to help increase access to loans for small business owners and reduce lender risk.

Online lenders offer higher approval rates and quicker funding processes compared to traditional banks, though they often come with higher annual percentage rates (APRs).

SBA loans range from $500 to $5.5 million and can be used for almost any business purpose like fixed assets or operating capital. The benefits of going with SBA-guaranteed loans are competitive rates and terms, lower down payments, flexible requirements, and little-to-no collateral needed in some scenarios.

The most common SBA-backed small business loans:

7(a) loans: This is the SBA’s primary business loan program. 7(a) loans can be used for many things like working capital, acquiring or improving real estate, refinancing business debt, purchasing and installing equipment, and purchasing supplies and furniture. The maximum loan amount is $5 million.
504 loans : This loan program offers long-term, fixed rate financing for fixed assets that promote business growth and job creation. It can be used for the purchase, construction, or improvement of existing buildings or land, new or existing facilities, long-term machinery and equipment, streets and parking lots, and landscaping. A 504 business loan cannot be used for working capital, inventory, debt management, or investment. You can borrow up to $5.5 million.
Microloans : These loans help small businesses and some non-profit centers start up and expand. Microloans can be used for working capital, inventory, supplies, furniture, machinery, and other equipment when you need less than $50,000 for small improvements to your business. If you’re just starting your small business , this can be a great option.

Loans vs. lines of credit.

Applying for a line of credit is another way to secure funding for your small business, but it functions a little differently than a loan. Term loans like the ones mentioned above provide you with a one-time lump sum of cash in exchange for agreed-upon borrowing terms and a certain repayment schedule.

Business lines, on the other hand, more closely resemble credit cards. Your bank or financial institution gives you a set credit limit that can be used over and over once the balance has been repaid, better known as a revolving credit limit.

Just like you would with a credit card, you can spend up to your maximum credit limit at any time, and as soon as you pay off the balance, you have access to that credit once again. Business lines offer flexibility and the benefit of paying interest only on the amount withdrawn.

Unlike term loans, lines of credit have no restrictions on what you can use them for and you only have to pay interest on the credit you use. However, lines of credit also typically have higher interest rates, lower dollar amounts, and smaller minimum payments.

Alternative financing options for business loans.

What if you can’t get a traditional business loan? Perhaps that’s because you don’t have enough established credit, you have a lack of collateral, your debt is too high, or lenders see your business as risky for a number of other reasons.

But that’s no reason to give up! There are plenty of alternative financing options out there for small businesses like yours if you can’t get a bank loan. Just to name a few:

Crowdfunding : Small businesses can use crowdfunding to finance their venture by raising money from the community, typically on platforms like Kickstarter and Indiegogo . Many individuals contribute small amounts of money to fund your business idea, and it allows you to access capital without incurring debt as well as build a network of support. To make crowdfunding work, you have to invest the time and effort to create a compelling campaign.
Angel investors : The origin of many a startup company, these are private investors who use their own net worth to provide financing to small businesses in exchange for a piece of the pie, better known as ownership equity. You won’t have to repay the funds since your investor is getting ownership shares in exchange for money—and angel investors are often open to providing smaller amounts of money over a longer time period with a defined exit strategy. Just consider how much equity you’re willing to give away in exchange for funding.
Small business grants : Business grants are issued by federal, state, or local governments. The biggest bonus of a small business grant is there is no need to repay the funds and there are no interest rates, though with specific eligibility requirements, they can be hard to get. You can acquire a grant through the government, Small Business Administration, or the National Association for the Self-Employed. It may also be worthwhile to look into small business grants for minority groups like women, Black-owned businesses, and low-income entrepreneurs.
Personal loans : Personal loans can be easier to qualify for and offer lower APRs compared to business loans, making them a suitable option for startups without established revenue or financial projections. However, some personal loan lenders may not allow funds to be used for business purposes, and borrowers are personally liable for repaying personal loans. Carefully consider the application process, qualification requirements, and potential complications of using personal loans for business purposes.

co-employment-staffing-agency-HR-business

How to get a loan for business: application process and credit score requirements.

You’ve done your research, so it’s time to apply, apply, apply! For the loan application process, you’ll need to cross your t’s and dot your i’s by compiling everything you need. Whether you are applying for startup business loans or small business loans, make sure you understand their eligibility requirements

Start up business loans typically have more lenient eligibility requirements compared to traditional small business loans. Knowing how to get a business loan means knowing the necessary documents to gather, researching different lenders, and understanding the pros and cons of each loan option.

The documents you will need to bring to the table include:

Credit report : A strong credit history helps lenders evaluate how you have managed debt in the past and decide if you are a good candidate for a loan. Typically, a credit score of 700 or higher is considered a good spot to be in. If your credit score is low or you have poor credit history, you’ll want to work on building your credit before applying for a loan.
Bank statements : Your bank statements show lenders what your deposits, withdrawals, and balances look like and gives them a sense of your ability to pay back their loan. Bank statements also allow lenders to predict what your earning and spending will look like in the future, as well as identify if you have any outstanding debt.
Income statement : The income statement measures your business’s profitability over time. This gives lenders an idea of how sustainable your business is. There will often be a minimum criteria your business must meet to qualify for a loan, which could be based on revenue or sales volume.
Budget : Lenders want to know that you’ve got a solid, healthy budget. This shows them where your money is being spent and why. If you have a well-balanced budget, it shows that you can likely handle regular loan payments.
Income tax returns : Lenders will require your most recent tax returns to verify your income and assess your debt-to-income ratio . If your debt-to-income ratio is above 43%, lenders will likely consider you more high-risk.
Business plan : A solid business plan shows lenders what your business is all about. It should be organized, well-thought-out, and detailed. Business plans typically include a business description, mission statement, your products and services, market analysis, and a financial plan.

Obtaining a startup business loan can be challenging, especially if you have bad credit or are a new entrepreneur. If your loan application is denied, consider improving your credit score, seeking alternative funding options, or consulting with a financial advisor for further guidance.

So what’s on the line when you apply for a loan? Most lenders require some form of collateral as well. This guarantees to the lender that you also have something to lose should you fail to meet your loan terms and repayment.

Collateral can come in the form of real estate, vehicles, equipment, inventory, or your savings. The dollar equivalent that you offer in collateral will depend on your lender, your credit score, your borrowing amount, and the types of assets you own.

Lend yourself a hand with your small business loan.

Getting a business loan will help you immensely in getting your business off the ground and sets your small business up for growth and expansion. And when you get to the point where you’re ready to take your business to the next level, Homebase can help.

Homebase is the everything app that helps you when you’re using that loan to build out your team. We handle hiring and onboarding so that your team is ready to go when you are, and you can schedule and time track employees with ease to keep operations running. When payday arrives, our tools connect directly to our payroll system, so you can keep your finances clear for your next grant application.

You’ve built your business from the ground up and put in the work to get a business loan for maximum success potential, so don’t get tripped up on details. Homebase can help you make the day-to-day operations of managing your team a breeze so you can keep climbing higher. The sky’s the limit!

Remember: This is not legal advice. If you have questions about your particular situation, please consult a lawyer, CPA, or other appropriate professional advisor or agency.

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SmallBusinessLoans.com: 2024 Review

• Small business loans
• Funding inequality

• Personal finance
• Personal loans

Advertiser Disclosure

You have money questions. Bankrate has answers.

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Our advertisers do not compensate us for favorable reviews or recommendations. Our site has comprehensive free listings and information for a variety of financial services from mortgages to banking to insurance, but we don’t include every product in the marketplace. In addition, though we strive to make our listings as current as possible, check with the individual providers for the latest information.

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At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money .

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

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At a glance

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Bankrate Rating = 3.5/5

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SmallBusinessLoans.com is a small business loan marketplace that connects business owners in various industries with funding partners. Its lending partners specialize in short-term and SBA loans for borrowers with fair to excellent personal credit, with funding up to $500,000.

Lender Details

Loan amount

$5,000-$500,000

Interest rate

Term lengths

Min. annual revenue

Min. time in business

Who SmallBusinessLoans.com is best for

SmallBusinessLoans.com is best for business owners with fair to excellent personal credit scores who are still determining what financing they need or qualify for. SmallBusinessLoans.com is a broker, so you’ll fill out an application to match with lending partners. This process allows business owners to potentially compare multiple offers with one application, avoiding the tedious process of researching loans and lenders.

Business owners looking for fast funding could also benefit from SmallBusinessLoans.com's services, as you could receive funds in as little as 24 hours. Speed of funding will vary based on the lender you are matched with, among other factors.

Who SmallBusinessLoans.com may not be best for

SmallBusinessLoans.com may not be the best option for businesses that know the type of loan they want or have a specific lender in mind. Since SmallBusinessLoans.com isn’t a direct lender, a business owner has to fill out an application to determine what loan types they might qualify for.

Apart from this, SmallBusinessLoans’ website states that its lending partners offer loans to borrowers with fair to excellent personal credit. While no minimum personal credit score is listed, bad credit borrowers likely won’t be eligible for funding.

Additionally, businesses in Nevada, Oregon, Rhode Island, South Dakota and Vermont are only eligible for sales-based financing products, which may not be ideal for some business owners.

SmallBusinessLoans.com: in the details

SmallBusinessLoans.com pros and cons

Potential for fast funding

Quick application

Personalized funding options

Partners with multiple lenders

Limited information online

Must fill out an application to know what you qualify for

Availability depends on location

Only offers short-term financing

Business loan types offered

SmallBusinessLoans.com is a broker, so the requirements to qualify with its partner lenders aren’t disclosed. You'll need to fill out an application to learn what financing options are available.

Short-term loans

Business line of credit, working capital loans, loan quick facts.

Amounts: $5,000 to $500,000
Terms: Not disclosed
APR/interest/factor rate: Not disclosed

Short-term loan overview

Short-term loans are business loans typically offered by online and alternative lenders. As the name implies, they have shorter repayment periods, often six to 24 months. Repayments could be monthly, weekly or daily, depending on the loan and lender. Short-term loans usually have a faster funding timeline, with some short-term loan lenders offering same-day funding.

While the eligibility requirements for SmallBusinessLoans’ partners aren’t disclosed — apart from stating they lend to borrowers with fair to excellent personal credit — short-term loans often have lower eligibility requirements than longer term loans or those offered by traditional lenders.

Business line of credit overview

Sba loan overview.

SBA loans are small business loans backed by the U.S. Small Business Administration, making them less risky for lenders who offer them. They have set maximum interest rates and often come with high loan amounts. That said, they aren’t a good option for businesses looking for fast funding, as approval and funding can take 30 to 90 days.

While SBA lenders have some control over eligibility requirements, the SBA typically requires that small businesses exhaust other financing options, have a fair to excellent credit personal score and meet the SBA’s definition of a small business.

APR/interest/factor rate: Not disclosed

Working capital loan overview

Working capital loans are a good option for businesses that temporarily need capital. Like short-term loans, working capital loans often have shorter repayment terms. Most businesses use working capital loans to help with cash flow issues, such as seasonal dips, covering unexpected operational costs, purchasing additional inventory or taking advantage of a time-sensitive business opportunity.

Do you qualify?

There isn’t much information available on the qualification requirements, as each partner lender sets their own eligibility standards. Typically, lenders offering short-term loans have more flexible requirements compared to more traditional lenders. However, to determine whether you qualify for funding, you’ll need to fill out an application on SmallBusinessLoans’ website.

Applicants in Nevada, Oregon, Rhode Island, South Dakota and Vermont are only matched with sales-based financing options.
Applicants in New Mexico are eligible for loans of $10,000 and up.

While there are no restricted industries listed, if you are hoping to be matched with a lender offering SBA loans, there are ineligible industries, including:

Nonprofits.
Financial businesses, like banks or finance companies.
Businesses engaged in illegal activities.
Speculative or unstable businesses.
Businesses that earn more than a third of profits from legal gambling.

What we like and what we don’t like

SmallBusinessLoans.com matches you with potential lenders, giving you the best offers that meet your funding needs. That said, there isn’t much information on its lending partners, eligibility requirements or customer service.

What we like

Potential for fast funding : SmallBusinessLoans.com states funding could happen in as little as 24 hours.
Quick application : The application is fully online and only takes a few minutes to complete.
Personalized funding options : After filling out an application, you’ll only be matched with lenders who meet your funding needs.
Partners with multiple lenders : Instead of applying with multiple lenders, SmallBusinessLoans.com makes it easy to see multiple offers.

What we don’t like

Limited information on its site : SmallBusinessLoans.com doesn’t list much information about what its partner lenders offer. Contacting someone may also be difficult as it doesn’t have a dedicated customer service phone number.
Must fill out an application to know what you qualify for : Since minimum requirements for its partner lenders aren’t listed, you’ll have to apply to know what type of loan you may be able to get.
Availability of products depends on location : Not all products from its lending partners are available in every state.
Only offers short-term loans : SmallBusinessLoans.com’s partner lenders specialize in short-term funding, so if you need longer term financing options, you may need to look elsewhere.

How SmallBusinessLoans.com compares to other lenders

Bankrate Score

Min. business annual revenue

$1,000-$10 million

4.63%-60.00%

3 months-25 years

on Bankrate

$5,000-$10 million

0.75% Monthly rate | 5.00% to 18% Simple interest

SmallBusinessLoans.com vs. Lendio

Like SmallBusinessLoans.com, Lendio doesn’t directly lend to businesses but matches them with partner lenders. Both offer fast funding, potentially receiving funds within 24 hours.

That said, Lendio is far more transparent with the application process, requirements and the number of lenders it works with. Lendio currently has more than 75 partner lenders and a robust FAQ section detailing much of the information you need as a prospective applicant.

Businesses with fair to excellent personal credit needing short-term financing may benefit from applying with SmallBusinessLoans.com, whereas business owners looking for higher loan amounts or longer terms should consider applying with Lendio.

SmallBusinessLoans.com vs. Fundible

Fundible is another lender with a partner network, like SmallBusinessLoans.com, but they also offer in-house financing. Both lenders offer various financing options, but Fundible and its partners have higher lending amounts and terms, with funding up to $6 million and terms up to 10 years. SmallBusinesLoans.com’s lending partners offer funding up to $500,000 and short-term financing, typically maxing out at 24 months.

Businesses with bad credit will likely have better luck applying with Fundible, as it states a FICO score of at least 500 is needed. While SmallBusinessLoans.com doesn’t disclose much information about its lending partner’s requirements, it does state that its partners accept borrowers with fair to excellent personal credit.

If you’re looking for fast funding, either lender will meet your needs as they have fast application processes, and state funding could occur in as little as 24 hours.

How to apply for a loan with SmallBusinessLoans.com

You can easily apply for funding through SmallBusinessLoans.com. To begin, you’ll need to provide the amount of funding you need, what the funding is for and your name and email. You’ll answer a few more questions about your business and financials, which will likely include its annual revenue, time in business and your personal credit score. Once you match with lenders, more documentation and information may be required.

If you have any questions, you can fill out an online form through their website or contact them at [email protected].

SmallBusinessLoans.com frequently asked questions

What credit score is needed for smallbusinessloans.com loans.

SmallBusinessLoans.com doesn’t list a minimum personal credit score needed to qualify for its partner lenders’ products. That said, the website does state that its partner lenders offer financing to borrowers with fair to excellent personal credit, which is a score of 580 or higher.

Is it hard to get a business loan from SmallBusinessLoans.com

It’s easy to apply with SmallBusinessLoans.com, but it doesn’t state any minimum requirements. Depending on your credit score, annual revenue and time in business, it may be easier or more difficult to qualify for loans with its lending partners.

What types of loans does SmallBusinessLoans.com offer?

SmallBusinessLoans.com’s network of lenders specializes in short-term loans, typically with terms between six months and 24 months. Each partner may offer different types of short-term loans, but business lines of credit, term loans, working capital loans and bridge loans are all popular options.

How Bankrate rates SmallBusinessLoans.com

Overall Score	3.5
Accessibility	4.3	SmallBusinessLoans.com works with lending partners to match business owners with funding that meets their needs.
Affordability	3.8	While rates aren’t disclosed, some partners offer SBA loans, which cap interest rates that lenders can charge.
Transparency	1.7	Very little information about lending partners is disclosed on its site.
Customer experience	3.6	This lender gets points for its highly rated app and its online application.
Flexibility	4.2	The only way to contact customer service is through an online contact form or email.

Methodology

To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories :

Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
Affordability: This section measures interest or factor rates and fees.
Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
Customer experience: Customer service hours, online applications and app availability are considered in this category.
Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.

On This Page

Who this lender is best for
In the details
Pros and cons
Do you qualify?
What we like and what we don't like
Lender comparison
How to apply
Frequently asked questions

QuickBridge

QuickBridge offers fast, short-term loans to fair-credit borrowers..

National Funding

Established in 1999, National Funding provides short- and long-term loans to eligible business owners with a credit score of over 600. Fast funding times, early payoff discounts and a guaranteed lowest payment for equipment leases add to the appeal.

PNC Bank Small Business Loans: 2023 Review

PNC Bank has 2,500+ retail locations in 28 states and D.C. The lender provides various business loan products like term loans, lines of credit and SBA loans. But the website offers limited details regarding lending criteria, fees and rates.

Backd is an online lender that offers fast, short-term loans to business owners with a credit score of 600 and above. Its options include a working capital loan, business line of credit and buy now, pay later option to help businesses spread out the cost of purchases.

Huntington National Bank

FFounded in 1866, Huntington National Bank is a regional bank with branches in 12 states. It offers business loans, including term loans, lines of credit and asset-based financing. The chain is also a top national issuer of SBA loans.

Lendio is a top service that helps businesses find financing for a variety of common expenses. Fill out one application to be matched with 75+ lenders.

Fora Financial

Fora Financial has been around since 2008. The lender specializes in short-term business loans for borrowers with bad credit, but loan terms can be short.

Through direct lending or partnering with other lenders, Credibly offers small business loans to businesses with at least $15,000 in monthly revenue deposited in their business bank account. Loan options include working capital, business lines of credit and merchant cash advances.

Bank of America

Bank of America is a national lender with a wide variety of business loan options. Most loans are better suited for established businesses with good-to-excellent credit, but it also offers a cash-secured line of credit to help businesses who want to build credit.

Small Business Trends

Sba disaster loans available for texas small businesses affected by drought.

“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 4 percent for businesses and 3.25 percent for private nonprofit organizations, a maximum term of 30 years, and are available to small businesses and most private nonprofits that cannot offset the adverse impact without hardship,” Sánchez added.

While businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance, agricultural enterprises should contact the Farm Services Agency for U.S. Department of Agriculture assistance. However, nurseries are eligible for SBA disaster assistance in drought situations.

An official website of the United States Government

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IRS enters next stage of Employee Retention Credit work; review indicates vast majority show risk of being improper

Highest-risk claims being denied, additional processing to begin on low-risk claims; heightened scrutiny and review continues as compliance work tops $2 billion; IRS will consult with Congress on potential legislative action before making decision on future of moratorium

IR-2024-169, June 20, 2024

WASHINGTON — Following a detailed review to protect taxpayers and small businesses, the Internal Revenue Service today announced plans to deny tens of thousands of improper high-risk Employee Retention Credit claims while starting a new round of processing lower-risk claims to help eligible taxpayers.

“The completion of this review provided the IRS with new insight into risky Employee Retention Credit activity and confirmed widespread concerns about a large number of improper claims,” said IRS Commissioner Danny Werfel. “We will now use this information to deny billions of dollars in clearly improper claims and begin additional work to issue payments to help taxpayers without any red flags on their claims.”

“This is one of the most complex credits the IRS has administered, and we continue to ask taxpayers for patience as we unravel this complex process,” Werfel added. “Ultimately, this period will help us protect taxpayers against improper payouts that flooded the system and get checks to those truly eligible.”

The review involved months of digitizing information and analyzing data since last September to assess a group of more than 1 million Employee Retention Credit (ERC) claims representing more than $86 billion filed amid aggressive marketing last year.

During this process, the IRS identified between 10% and 20% of claims fall into what the agency has determined to be the highest-risk group, which show clear signs of being erroneous claims for the pandemic-era credit. Tens of thousands of these will be denied in the weeks ahead. This high-risk group includes filings with warning signals that clearly fall outside the guidelines established by Congress.

In addition to this highest risk group, the IRS analysis also estimates between 60% and 70% of the claims show an unacceptable level of risk. For this category of claims with risk indicators, the IRS will be conducting additional analysis to gather more information with a goal of improving the agency’s compliance review, speeding resolution of valid claims while protecting against improper payments.

At the same time, the IRS continues to be concerned about small businesses waiting on legitimate claims, and the agency is taking more action to help. Between 10% and 20% of the ERC claims show a low risk. For those with no eligibility warning signs that were received prior to the last fall’s moratorium, the IRS will begin judiciously processing more of these claims.

The IRS anticipates some of the first payments in this group will go out later this summer. But the IRS emphasized these will go out at a dramatically slower pace than payments that went out during the pandemic period given the need for increased scrutiny.

As the additional IRS processing work begins at a measured pace, other claims will begin being paid later this summer following a final review. This additional review is needed because the submissions may have calculation errors made during the complex filings. For those claims with calculation errors, the amount claimed will be adjusted before payment.

The IRS also noted that generally the oldest claims will be worked first, and no claims submitted during the moratorium period will be processed at this time.

No additional action needed by taxpayers at this time; await further notification from the IRS

The IRS cautioned taxpayers who filed ERC claims that the process will take time, and the agency warned that processing speeds will not return to levels that occurred last summer. Taxpayers with claims do not need to take any action at this point, and they should await further notification from the IRS. The agency emphasized those with ERC claims should not call IRS toll-free lines because additional information is generally not available on these claims as processing work continues.

“These complex claims take time, and the IRS remains deeply concerned about how many taxpayers have been misled and deluded by promoters into thinking they’re eligible for a big payday. The reality is many aren’t,” Werfel said. “People may think they are on safe ground, but many are simply not eligible under the law. The IRS continues to urge those with pending claims to use this period to review the guideline checklist on IRS.gov, talk to a legitimate tax professional rather than a promoter and use the special IRS withdrawal program when there’s an issue.”

Werfel also cautioned taxpayers to be wary of promoters using today’s announcement as a springboard to attract more clients to file ERC claims.

“The whole world has changed involving Employee Retention Credits since the deepest days of the pandemic,” Werfel said. “Anyone applying for this credit needs to talk to a trusted tax professional and closely review the eligibility requirements, not someone playing fast and loose and trying to make a fast buck off well-meaning taxpayers. People need to be cautious of promoters trying to take advantage of today’s announcement to drive more business. People should remember the IRS continues to be very active in our compliance lanes on Employee Retention Credits.”

Steps taken since September 2023 when processing moratorium on new ERC claims began

During the ERC review period, the IRS continued to process claims received prior to September 2023. The agency processed 28,000 claims worth $2.2 billion and disallowed more than 14,000 claims worth more than $1 billion.

The ERC program began as a critical effort to help businesses during the pandemic, but the program later became the target of aggressive marketing well after the pandemic ended. Some promoter groups may have called the credit by another name, such as a grant, business stimulus payment, government relief or other names besides ERC or the Employee Retention Tax Credit (ERTC).

To counter the flood of claims being driven by promoters, the IRS announced last fall a moratorium on processing claims submitted after Sept. 14, 2023, to give the agency time to digitize information on the large study group of nearly 1 million ERC claims, which are made on amended paper tax returns. The subsequent analysis of the results during this period helped the IRS evaluate next steps, providing the IRS valuable information to change the way the agency will process ERC claims going forward.

The findings of the IRS review confirmed concerns raised by tax professionals and others that there was an extremely high rate of improper ERC claims.

The claims followed a flurry of aggressive marketing and promotions last year that led to people being misled into filing for the ERC. After the moratorium was put in place on Sept. 14, the IRS has continued to see ERC claims continuing to come in at the rate of more than 17,000 a week, with the ERC inventory currently at 1.4 million.

In light of the large inventory and the results of the ERC review, the IRS will keep the processing moratorium in place on ERC claims submitted after Sept. 14, 2023. The IRS will use this period to gather additional feedback from partners, including Congress and others, on the future course of ERC.

“We decided to keep the post-September moratorium in place because we continue to be concerned about the substantial number of claims coming in so long after the pandemic,” Werfel said. “These claims are clogging the system for legitimate taxpayers. We worry that ending the moratorium might trigger a gold rush by aggressive marketers that could lead to a new round of improper claims, which would be a bad result for taxpayers or tax administration. We will use this time to consult with Congress and seek additional help from them on the ERC program, including potentially closing down new claims entirely and seeking an extension of the statute of limitations to allow the agency more time to pursue improper claims.”

Special IRS Withdrawal Program remains open for those with unprocessed ERC claims

Given the large number of questionable claims indicated by the new review, the IRS continues to urge those with unprocessed claims to consider the special IRS ERC Withdrawal Program to avoid future compliance issues.

Businesses should quickly pursue the claim withdrawal process if they need to ask the IRS to not process an ERC claim for any tax period that hasn’t been paid yet. Taxpayers who received an ERC check — but haven’t cashed or deposited it — can also use this process to withdraw the claim and return the check. The IRS will treat the claim as though the taxpayer never filed it. No interest or penalties will apply.

With more than 1.4 million unprocessed ERC claims, the claim withdrawal process remains an important option for businesses who may have submitted an improper claim.

IRS compliance work tops $2 billion from Voluntary Disclosure Program, withdrawal process, disallowances

The IRS also announced today that compliance efforts around erroneous ERC claims have now topped more than $2 billion since last fall. This is nearly double the amount announced in March following completion of the special ERC Voluntary Disclosure Program (VDP), which the IRS announced led to the disclosure of $1.09 billion from over 2,600 applications. The IRS is currently considering reopening the VDP at a reduced rate for those with previously processed claims to avoid future compliance action by the IRS.

Compliance work on previously processed ERC claims continue, and work continues on a number of efforts to counter questionable claims:

The ongoing claim withdrawal process for those with unprocessed ERC claims has led to more than 4,800 entities withdrawing $531 million.
The IRS has determined that more than 12,000 entities filed over 22,000 claims that were improper and resulted in $572 million in assessments. This initial round of letters covers Tax Year 2020. Thousands more of these letters are planned in coming months to address Tax Year 2021, which involved larger claims. Congress increased the maximum ERC from $5,000 per employee per year in 2020, to $7,000 per employee for each quarter of the year in 2021.
More than 2,600 applications for the special ERC Voluntary Disclosure Program (VDP) , which ended in March, disclosed $1.09 billion.

The IRS is currently assessing whether to reopen the special ERC Voluntary Disclosure Program to help taxpayers get into compliance on paid claims and avoid future IRS compliance action, including audits. If the program reopens, the IRS anticipates the terms will not be as favorable as the initial offering that closed in the spring. A decision will be made in coming weeks.

The IRS also reminded those with pending claims or considering submitting an ERC claim about other compliance actions underway:

Criminal investigations: As of May 31, 2024, IRS Criminal Investigation has initiated 450 criminal cases, with potentially fraudulent claims worth nearly $7 billion. In all, 36 investigations have resulted in federal charges so far, with 16 investigations resulting in convictions and seven sentencings with an average sentence of 25 months.

Audits: The IRS has thousands of ERC claims currently under audit.

Promoter investigations: The IRS is gathering information about suspected abusive tax promoters and preparers improperly promoting the ability to claim the ERC. The IRS’s Office of Promoter Investigations has received hundreds of referrals from internal and external sources. The IRS will continue civil and criminal enforcement efforts of these unscrupulous promoters and preparers.

Help for businesses with eligibility questions and those misled by promoters

Some promoters told taxpayers every employer qualifies for ERC. The IRS and the tax professional community emphasize that this is not true. Eligibility depends on specific facts and circumstances. The IRS has dozens of resources to help people learn about and check ERC eligibility and businesses can also consult their trusted tax professional . Key IRS materials to help show taxpayers if they have a risky ERC claim include:

ERC Eligibility Checklist (interactive version and a printable guide PDF ) includes cautions about common areas of misinformation and links to facts and examples.
7 warning signs ERC claims may be incorrect outlines tactics that unscrupulous promoters have used and why their points are wrong.
Frequently asked questions about the Employee Retention Credit includes eligibility rules, definitions, examples and more.
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Judges temporarily halt part of President Biden's student debt forgiveness plan

The Associated Press

President Biden speaks at an event about canceling student debt, at the Madison Area Technical College Truax campus, April 8, 2024, in Madison, Wis. Kayla Wolf/AP hide caption

TOPEKA, Kan. — Federal judges in Kansas and Missouri on Monday together blocked much of a Biden administration student loan repayment plan that provides a faster path to cancellation and lower monthly payments for millions of borrowers.

The judges’ rulings prevent the U.S. Department of Education from helping many of the intended borrowers ease their loan repayment burdens going forward under a rule set to go into effect July 1. The decisions do not cancel assistance already provided to borrowers.

In Kansas, U.S. District Judge Daniel Crabtree ruled in a lawsuit filed by the state’s attorney general, Kris Kobach, on behalf of his state and 10 others. In his ruling, Crabtree allowed parts of the program that allow students who borrowed $12,000 or less to have the rest of their loans forgiven if they make 10 years’ worth of payments, instead of the standard 25.

But Crabtree said that the Department of Education won’t be allowed to implement parts of the program meant to help students who had larger loans and could have their monthly payments lowered and their required payment period reduced from 25 years to 20 years.

In Missouri, U.S. District Judge John Ross’ order applies to different parts of the program than Crabtree’s. His order says that the U.S. Department of Education cannot forgive loan balances going forward. He said the department still could lower monthly payments.

3 things you need to know about student loans this summer

Ross issued a ruling in a lawsuit filed by Missouri Attorney General Andrew Bailey on behalf of his state and six others.

Together, the two rulings, each by a judge appointed by former President Barack Obama, a Democrat, appeared to greatly limit the scope of the Biden administration’s efforts to help borrowers after the U.S. Supreme Court last year rejected the Democratic president’s first attempt at a forgiveness plan. Both judges said Education Secretary Miguel Cardona exceeded the authority granted by Congress in laws dealing with students loans.

Bailey and Kobach each hailed the decision from their state's judge as a major legal victory against the Biden administration and argue, as many Republicans do, that forgiving some students' loans shifts the cost of repaying them to taxpayers.

“Only Congress has the power of the purse, not the President,” Bailey said in a statement. "Today’s ruling was a huge win for the rule of law, and for every American who Joe Biden was about to force to pay off someone else’s debt.”

The White House said it strongly disagrees with the judges’ rulings and would continue to defend the program, and use every available tool to give relief to students and borrowers.

In a statement, White House press secretary Karine Jean-Pierre said the Biden administration “will never stop fighting for students and borrowers — no matter how many roadblocks Republican elected officials and special interests put in our way.”

In a statement posted on the social media platform X, leaders of the Student Borrower Protection Center, which advocates for eliminating student debt, called the decisions “partisan lawfare” and “a recipe for chaos across the student loan system.”

“Millions of borrowers are now in limbo as they struggle to make sense of their rights under the law and the information being provided by the government and their student loan companies,” said the group’s executive director, Mike Pierce.

In both lawsuits, the suing states sought to invalidate the entire program, which the Biden administration first made available to borrowers in July 2023, and at least 150,000 have had their loans canceled. But the judges noted that the lawsuits weren't filed until late March in Kansas and early April in Missouri.

“So the court doesn’t see how plaintiffs can complain of irreparable harm from them,” Crabtree wrote in his opinion.

Both orders are preliminary, meaning the injunctions imposed by the judges would remain in effect through a trial of the separate lawsuits. However, to issue a temporary order each judge had to conclude that the states were likely to prevail in a trial.

Kobach framed the Biden plan as “unconstitutional” and an affront to “blue collar Kansas workers who didn’t go to college."

There was some irony in Crabtree's decision: Kansas is no longer a party to the lawsuit Kobach filed. Earlier this month, Crabtree ruled that Kansas and seven other states in the lawsuit — Alabama, Idaho, Iowa, Lousiana, Montana, Nebraska and Utah — couldn't show that they'd been harmed by the new program and dismissed them as plaintiffs.

That left Alaska, South Carolina and Texas, and Crabtree said they could sue because each has a state agency that services student loans.

But Crabtree said that lowering monthly payments and shortening the period of required payments to earn loan forgiveness “overreach any generosity Congress has authorized before.”

In the Missouri ruling, Ross said repayment schedules and “are well within the wheelhouse” of the department but the “plain text” of U.S. law doesn’t give it authority to forgive loans before 25 years of payments.

Missouri also has an agency that services student loans. The other states in its lawsuit are Arkansas, Florida, Georgia, North Dakota, Ohio and Oklahoma.

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Loan Specialist Resume Samples

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Works with supervisor to develop and implement an outreach and marketing program for assigned loan portfolio(s)
Assist Loan Consultant / Sales Manager with identified CRM activities
Assists with application packaging for bankers and manager
Meet externally with realtors and builders to develop business for assigned Loan Consultant/Sales Manager
Provide estimated worksheets and rate quotes to prospective borrowers
Assist with releasing the loans in workflow
Performs review of loan and collateral documents and loan packages to insure bank's security interest and adherence to established policies and procedures
Medical, Dental, and Vision Plans
Retirement Plan – 401k with matching
Technical proficiency to learn and operate multiple data processing platforms
Time away from work – vacations and holidays
Professional development - SunTrust University, an in-house career growth and employee development program
Basic familiarity with real estate procedures and related regulations
Analyzes real estate appraisals to ensure adequate security is being used as collateral
Provide back-up lending coverage for absent workers or vacant positions to ensure workload is adequately managed
Set expectations, provide timely status updates, and establish deadlines for customers on returning conditions
Perform daily proactive pipeline management
Provides weekly pipeline information and also closed loans for the week by attending Team Sales Meetings and Pipeline Management meeting
Effectively manage and own your work queue ensuring queues and activity timelines are met
Works with regional consumer loan management on pricing and credit exceptions
Works with Consumer Lending Center on loan decisions for portfolio applications
Ability to deliver professional, responsive customer service
Knowledge of basic accounting principles
Good problem solving and decision making ability
Strong interpersonal skills, with a demonstrated ability to work within a team structure
Strong working knowledge of Hazard and Flood insurance coverage, regulations, and policies
Be proficient and professional in written correspondence
Good customer service skills with knowledge if Microsoft word and Excel
Basic knowledge of any file based record keeping or filing systems
Strong comprehensive understanding of attorney prepared loan documents
Knowledge of accounting principles

15 Loan Specialist resume templates

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Obtains required documentation and processes more complex loan applications
Orders credit verifications and third party services
Follows up on missing documentation
Prepares or reviews for accuracy, Good Faith Estimates of Closing Costs, Regulation Z disclosures, and other disclosures required by consumer regulation
Prepares compliance and accounting records and reports, as required by management and regulatory agencies
Performs pre-closing, post-closing, or whole loan due diligence review of legal agreements and other closing documents to terms of loan commitment
Maintains currency in loan processing policies and procedures
Intermediate level concepts, practices and procedures of commercial and retail loan processing and documentation
Fannie Mae and Freddie Mac Underwriting guidelines
Preparing loan closing packages
Preparing records and reports
Performing routine loan calculations
Maintain currency in loan processing policies and procedures
Priority will be given to protected veterans
For more information, contact: Tammy Hearns at [email protected]
Bachelor's degree preferred or 6 - 10 years job-related experience
Proficient with Microsoft Office (including Excel, Word and Outlook
Experience with AFS, Stucky, Paralender, Deposit System preferred
Strong professional communication skills (verbal and written)
Commercial loan system processing experience
Knowledge of commercial banking including asset based lending and/or syndications
Strong comprehensive understanding of attorney prepared loan documents related to federal regulations, compliance, audit and credit policies
Ability to work within established procedures and regulatory guidelines and use judgment to identify and escalate any inconsistencies while providing support and guidance to other processing staff
Knowledge and experience with large commercial loans
Organizational skills, highly motivated, teamwork, strong professional written and verbal communication skills
Obtains required documentation and processes less complex loan applications
Prepares and compiles documents for review and approval
Performs basic loan calculations
Performs pre-closing due diligence review of legal agreements and other closing documents to terms of loan commitment
Prepares and mails documentation confirming original or amended loan terms to customers
Processing less complex loan applications
Verifying information for accuracy and completeness
Preparing loan approval packages
High School diploma or an equivalent combination of education, training or experience

Mortgage Loan Specialist Resume Examples & Samples

Must have a minimum of 12-18 months mortgage sellingexperience. Experience of self sourced business
Demonstrated ability to coach others
Ability to work as part of a team, lead and influenceteammates on mortgage business priorities
Strong computer skills including a fundamentalunderstanding of standard office applications
Solid time management skills and the ability toorganize, prioritize and perform multiple tasks simultaneously
Ability to communicate clearly and effectively, bothverbally and in writing, across a variety of audiences
Ability to analyze and comprehend complex financialdata and provide financial alternatives
Demonstrated ability to navigate successfully in anhighly complex and matrix environment

DLS Cons Loan Specialist Resume Examples & Samples

Audits, funds, and boards Indirect Loan and Lease packages
Provides a high level of quality customer service to both internal and external customers
Communicate with the dealer regarding funding package documentation problems and offer/provide assistance in resolving problems
Ensure adherence to all Bank, state, and federal regulations (example: Regulation Z, Regulation B, Fair Credit Reporting Act)
High School Diploma or GED required Required Experience
Supports other areas of Indirect Lending Operations group as needed
Flexibility as a team player
Flexibility with assignments and scheduling

Cbna-gcg-loan Specialist Resume Examples & Samples

Keeps up to date with products their features, benefits and costs
IT skills such as Microsoft Office (Excel, Word), email
Numerical skills such as understanding figures and financial data
Verbal skills such as understanding written information, e.g., reports
Abstract reasoning skills such as identifying links between component parts; seeing how something fits into a wider system (e.g., identifying cross-selling opportunities)
Two to three years of experience in a loan originationexperience Knowledge of conventional and/or government guidelines Knowledge of processing underwriting and/or closingprocedures/federal lending regulations governing real estate lending Ability to manage a heavy pipeline of 50 plus loans Strong written and verbal communications skills Teamwork and customer service skills a must Self-motivated and highly organized
Ability to prioritize multiplecompeting task
Familiar with FHA and HUD guidelines Strong computer skills including MS applications andprevious experience utilizing laptop technology for communication purposesincluding accessing rate, credit and loan status information. Solid time management skills and the ability to organize,prioritize and perform multiple tasks simultaneously Ability to communicate clearly and effectively, bothverbally and in writing, across a variety of audiences Ability to analyze and comprehend complex financial data andprovide financial alternatives
Professional and effectiveinterpersonal skills

Senior Loan Specialist Resume Examples & Samples

High School Diploma or equivalent
Proficiency with Fannie, Freddie, HUD, and CitiMortgage Guidelines
Also must be proficient with RESPA / TIL and other regulatory procedures and practices
Comprehensive knowledge of processing, closing, mortgage origination guidelines, and familiarity with all documents involved in a closed loan
Experience or knowledge working with pricing and CMI systems, including LRS, is a plus
High level of understanding of the mortgage business so that the escalated issues can be resolved without direction from management
Many of these issue require extensive research and a full knowledge of CMI's operations process from start to finish
Advanced level of industry knowledge - Processing, Closing, and Underwriting
Three + years experience in the mortgage industry preferred Must demonstrate good listening, analytical, and problem solving skills
Must come across as knowledgeable and confident
Verbal and written communication skills must be very polished
No relocation
.High School Diploma or GED required
.Minimum 4 years of experience in a project role
.Minimum 4 years of basic computer experience required (e.g. MS Word
Have the ability to Interpret complex loan documents
Be highly efficient in processing transactions in AFS, Vision, Stucky and other bank applications
Be able to effectively review and research requests and be able to process all maintenance transactions needed
Have the ability to work with both internal and external customers directly
Be able to problem solve and articulate resolutions to both internal and external clients
Have a financial services background and an understanding of DB/CR entries
Comprehensive knowledge of processing, closing, mortgage origination guidelines, and familiarity with all documents involved in a closed loan. Experience or knowledge working with pricing and CMI systems, including LRS, is a plus
Advanced level of industry knowledge - Processing, Closing, and Underwriting. Three + years experience in the mortgage industry preferred
Must demonstrate good listening, analytical, and problem solving skills
No relocation available

Consumer Loan Specialist Resume Examples & Samples

2+ years experience in mortgage loan servicing
Extensive experience reviewing mortgage documentation to include both Servicing and Origination documents
Excellent attention to detail with strong analytical skills
Strong PC skills required including Microsoft Office products and using database Software
Proficiency with Chase mortgage loan servicing and documentation platforms; MSP and I-vault/Federated preferred
Ability to work with all levels
Consult with customers about their financial and personal objectives and offer loan solutions to help them achieve their goals
Effectively identify customer credit needs and provide appropriate loan solutions
Build strong, trusting relationships with new and existing customers
Provide exceptional service to ensure customer satisfaction and a continued relationship with OneMain Financial
Work as an individual contributor and as part of a team to achieve business/organizational goals
Work directly with customers through the entire lending cycle from loan application to loan closing
Ensure that all lending documents and processes are completed per internal policies /processes
Manage collection activities including processing payments and consulting with customers on loan payments for past due accounts
To work for OneMain Financial you must be 18 years of age or older
Sales experience preferred
Customer service experience preferred
Strong communication and customer relationship skills
Willingness to work flexible hours. Typical office hours are Mon, Wed and Fri – 8:30AM to 5:30PM, Tues and Thurs – 10:00AM – 7:00PM and up to 2 Saturdays per month – 9:00AM -12:00PM
Experience working in a goal oriented sales environment
Knowledge of Microsoft Word, Outlook, Excel, Power Point
Ability to perform individually as well as contribute positively to the Branch Team environment
NOTE** The information listed within this Description summary is intended to indicate the general nature and level of work. It is not designed to contain or be interpreted as a comprehensive account of all the responsibilities, and/or minimum qualifications required of an employee assigned to this position. Job grade and job level may vary based on work experience and qualifications

Coml Loan Specialist Resume Examples & Samples

Responsible for ensuring complex loan transactions are complete and accurate and are in keeping with the terms and conditions approved by the appropriate authority
Contacts relevant parties to collect necessary documentation and may act as a liaison between Bank personnel, and customers
Reviews loan transactions for any changes/exceptions; requests additional documentation and/or supporting documents, if needed
Ensures loan system accuracy and adherence to policies and procedures
Maintains an in depth understanding of loan portfolios to ensure quality customer service while protecting the Bank
Complete knowledge of the products, policies and processes that relate to unit assigned
Complete knowledge of banking operations
2-3 Banking experience, AFS experience is a plus
Must demonstrate proficiency with Office programs (Excel and Word)
Ability to manager time effectively
Ability to work independent of supervision
Solid communications skills (verbal and written)
Must be able to work effectively in a fast pace environment
High School Diploma or higher
2-3 Banking experience; AFS experience is a plus
Must demonstrate proficiency Excel & Word
Must be proficient in Office Programs (Excel and Word)
Ability to manage time effectively
High School graduate; some college preferred
Minimum of one year experience in data entry or related field
Banking experience preferred
Recognition and knowledge of loan documents required
Proficient at ten key by touch
Minimum of 45 wpm accurate typing
Must be able to perform at a fast past in a high production environmen
Must be flexible at performing different functions within the department
Exhibits attention to detail
Three or more years working with loan documentation and the relationship to collateral
Knowledge of securing collateral and perfecting liens
Some experience with multiple perils and types of insurance exposures
Must use Word and Excel programs effectively
Ability to multi-task required
Must have the ability to work effectively and professionally with relationships internal as well as external to Citi
Must be able to work collaboratively with other departments to meet goals
Marrying of all documentation submitted by the customer with the request entered in by the field for the researcher to review when working the requests
Entry of all mailed correspondence into the Loan Research and Maintenance Database for tracking purposes
Reassignment of requests from queue to queue as needed
Entry of Administrative Fees
Pull statements, copies of histories, copies of transactions, and provide interest paid letters to customers as needed
Process Auto/Boat/Plane Lien Releases
Pull copies of duplicate 1098s
Prepare principal paid letters
At least one year prior experience in a customer service oriented and/or bank operations environment
Must have excellent customer service, analytical, and follow-up skills
Must demonstrate the ability to identify the customer’s needs and implement an effective solution in a rapid growth environment
Must have good organizational and time management skills
Alnova loan knowledge a plus
Excellent adding/subtracting skills
Loan system knowledge
Documentation knowledge
Experience with perfecting the lien on collateral
Experience with title policies/mortgages
Ability to use discretion when needed
Exhibit analytical skills
Ability to adhere to established production and performance goals
Alpha and numeric data entry skills
Loan system knowledgeAbility to meet deadlines
4 - 5 years experience working with an imaging system
4 – 5 years experience working with loan documents
Must be able to perform at a fast pace in a high production environment
Must be flexible with performing different functions within the department
Must be self reliant
Requires a High School degree or equivalent and 5+ years of lending support experience or other directly related experience
Proficient knowledge of bank products, lending policies, procedures and practices
Must have solid organizational and customer service skills
Solid written and verbal communications skills
Proficient knowledge pc's and various word processing, spreadsheet or related software
Coordinates, compiles, processes, and reviews loan files and/or transactions
May be responsible for loan files and/or transactions from any or all points from application through processing and closing
Ensures loan documents are complete and accurate and are in keeping with the terms and conditions approved by the appropriate authority
Reviews loan packages and/transactions for any changes/exceptions; requests additional documentation and/or supporting documents, if needed
At least one year in a similar function and/or environment
Basic knowledge of the products, policies and processes that related to unit assigned
Basic knowledge of banking operations

Home Loan Specialist Resume Examples & Samples

Increasing the growth and managing the retention of a consumer lending portfolio
Connecting with customers & providing advice on home lending options
Delivering an outstanding customer experience
Developing and increasing your referral channels and sales pipeline
Supporting & serving your local community
Develops new lending reports and tracking methods to help ensure achievement of branch lending goals
Researches and resolves lending inquires and issues
Reviews loan documentation for completeness and requests additional information as required
Creates new pipeline and sales reports
Monitors sales progress
Assists in development of telemarketing lists and the distribution of marketing materials to prospective customers
Position will involve ongoing data input and data tracking responsibilities
Reviews loan documentation, requests additional information as required; reviews and administers loans in accordance with approval conditions, prepares loan documentation; reviews, analyzes and makes loan disbursements including construction draws
Performs maintenance of balanced ledgers and change orders
Intermediate level Word, Excel and Power Point skills
Assists with lending activities for consumer and commercial loans
Reviews loan documentation, requests additional information as required; reviews and administers loans in accordance with approval conditions, prepares loan documentation; reviews, analyzes and makes loan disbursements including construction draws, Performs maintenance of balanced ledgers and change orders
Performs special projects as assigned
Typically requires a High School degree or equivalent and 5 years of lending support experience
Advanced knowledge of CBT products, lending policies, procedures and practices
Contributes to the development of new lending procedures
Excellent oral and written skills are a must
Knowledge of perfecting our lien for auto/boat secured loans
Experience with processing title work
Review pre/post closing mortgage documents and system notes to determine events that transpired through the loan servicing process
Construct a written summary responding to fee related charges from investors
Review origination and servicing mortgage documents to determine relevance to the mortgage loan file
Ability to express research through both written and communicative methods
Must demonstrate a professional behavior and be able to work in both individual and team environments
Requires High School Diploma or equivalent
3+ years experience in mortgage loan servicing with emphasis in default functions is strongly preferred
General knowledge of mortgage documentation to include both servicing and origination documents
Strong PC skills required including Microsoft Office products and using database software
MSP or LPS Desktop applications strongly preferred
2+ years experience in default mortgage loan servicing
Strong PC skills including intermediate to advanced knowledge of Microsoft Office Suites, with emphasis in Excel, required
Basic knowledge of MSP and SRW preferred
Strong prioritization and time-management skills

Senior DLS Cons Loan Specialist Resume Examples & Samples

Analyze, review and approve Indirect Loans and Leases submitted under the Bank's pre-approval programs. Make recommendations on requests which exceed Operational Lending Authority
Minimize risk of loss to the Bank by ensuring the completeness, accuracy and compliance of retail consumer credit documentation through the audit, funding and boarding process
Verify customer identity through conducting customer interviews or other sources as needed
Supports other areas of Indirect Lending Operations as needed
1-2 years consumer loan processing experience
Previous experience in a high volume/production environment preferred
Proven clerical and/or data entry experience
Type 45 wpm

Loan Specialist, Securities Based Lending Resume Examples & Samples

Tracks receipt of and reviews post closing legal documents
Verifies loan applications and supporting documents for accuracy and completeness
Prepares and compiles documents for loan closing
Performs initial credit analysis submission via automated underwriting, as requested
Schedules, coordinates loan closings, and clears for disbursement of loan proceeds
Performs routine loan calculations
Assists customers with moderately complex inquires or problems
Basic principles of banking and finance
Processing more complex loan applications
Ability to interact with and manage multiple computer systems to access client information
Basic understanding of privacy regulations and the need to authenticate customers prior to discussing account information
Experience interacting with customers
Demonstrated strong communication and interpersonal skills
Knowledge of Mainframe, FDR, Hogan ClientLink, Shaw systems
Experience interacting with customers via the telephone
Demonstrated ability to turn difficult customer situations into positive interactions
Success working in a team environment
Reviews loan applications and documentation for completeness and requests additional information as required
Inputs commercial loan information and Reg B compliance information into the Credit LEAD workflow system
Performs quality control reviews
Routes loan requests to the appropriate central underwriting group for processing
Researches and resolves lending inquiries and issues. May assist with commercial loan questions, payments and advances
High School Diploma or GED some college coursework in Business preferred
At least 3-5 years commercial loan operations experience
Knowledge of AFS Level III loan system strongly preferred
Must be able to work in a high volume production environment
Must be detail oriented and have the ability to multi-task and meet multiple deadlines
Must be able to interpret Commercial verbiage accurately
Must demonstrate the ability to problem solve, comprehend and retain knowledge concerning Loan Operations procedures
Must be a self starter and team oriented
Must have strong Commercial loan documentation knowledge
Must have Knowledge of debits and credits and previous experience in balancing transactions strongly preferred

RJ Bank-loan Specialist Resume Examples & Samples

Prepares or reviews for accuracy, TRID Disclosures, Regulation Z disclosures, and other disclosures required by consumer regulation
Performs other duties and responsibilities as assigned
Financial markets and products
Multi-state real estate, closing, and title practices
Federal and State lending laws
Loan origination software packages
Verifying loan applications and supporting documents
Reviewing and interpreting commercial loan documentation and terms
Reviewing and interpreting residential and consumer documentation and terms
Reviewing and personal financial statements and supporting documents
Read, interpret, analyze and apply information from loan application documents
Interpret and apply policies
For more information, contact: Lindsay Silverman at [email protected]

SBA Loan Specialist Resume Examples & Samples

1 year in Commercial Real Estate/SBA lending or Commercial lending, or
1 year in commercial construction industry to include accounts receivable/ accounts payable, journal entry transactions, construction management
Review/balance the project budget to include loan funds and equity
Review loan advance requests for accuracy and completion, to include borrower budget, AIA G702/G703, lien waivers, and numerous industry standard construction documents
Order date down endorsements from title
Order third party reports as needed
Review all due diligence items as they come in for accuracy and sufficiency, according to Bank policy
Timely follow up and management of incoming items from the borrower, contractors, attorney, and relationship manager
Review title policies, surveys, appraisals, and any third party report that relates to the transaction
Accurately post advance requests and disbursed loan proceeds utilizing Loan Manager
Schedule and attend welcome calls with the borrower, contractors, third party vendors
Assist funders and funding supervisor with special projects as needed
Assist funding manager with monthly reports
Assist funding department with reporting and reconciliation activities
3+ years mortgage processing and/or closing experience with high profile applicants, or 2+ years first mortgage or home equity underwriting experience (no designations)
Demonstrated credit evaluation skills that include the ability to analyze credit bureau reports, title commitments, appraisals, W-2s, paystubs, tax returns, flood determinations and other documentation
Must be detail oriented and have superior verbal and written communication skills and be able to multi-task

DLS Cons Loan Specialist, Senior Resume Examples & Samples

Audits, funds and boards Indirect Loan and Lease packages. Ability to review and audit multiple products
Ensure predefined timeline for turnaround is met
Ensure the quality of applicant and contract information. This information will autoboard to the Bank's accounting system and ultimately be used as the Bank's primary reporting tool in determining risk, profitability, collateral and customer location information
Maintains working knowledge of standards and procedures. Maintains knowledge of systems and applications
1-2 years of DLS experience
Works extensively and proficiently on keyboard

Post Closing Loan Specialist Resume Examples & Samples

Computer literate in Microsoft Word, Excel and Outlook
Capable of working independently with minimal management oversight
Must be highly organized and capable of prioritizing numerous time sensitive and business critical activities
Ability to multi-task and meet deadlines
Work effectively with business partners and clients toward a common goal
Proficient knowledge of loan documentation and collateral perfection
Systems/Applications: AFS, Everest, Action, Boss, Tradeline, GUS, CT Lien Solutions, Virtual Vault and GFS
Minimum of High School Diploma, although some level of college education preferred
Review set-up loan files for completeness and identify and missing documentation or potential problems
Prepare loan files for funding by reviewing the analysis for accuracy and by completing the Request for Documents form to ensure all regulatory information and loan terms are accurately input into the computer system to meet compliance
Underwrite income source(s), collateral, and credit quality of commercial property and multi-family property loan applications. This is includes analysis of personal & business income tax returns, tax schedules, and financial statements
Cross trains other team members, when applicable
Extensive work experience in residential, commercial and/or construction loan processing, and commercial real estate loan underwriting
Basic computer skills are required
Additional work experience with an emphasis on customer service preferred
Must be be able to analyze / underwrite / cash flow mortgage loans
Derive cash flow from analysis of federal personal and business income tax returns & schedules and financial statements
3-5 years experience with processing, underwriting and related analysis
Extensive work experience in residential real estate loan underwriting is required
Proven ability to analyze income tax returns & tax schedules to derive borrower's cash flow
Experience with commercial and/or construction loan processing, and commercial real estate loan underwriting is a plus, but not required
Understand completely all company policies, standards, specifications and guidelines
New file preparation for construction loans
Review loan agreements, escrow agreements, and any other closing documents of assigned loans
Assist in reviewing contractor’s requisitions and disbursements of construction advances
Assist in escrow disbursements
Assist in change order review and approval
Assist in the construction inspection process and any applicable billing
Assist in facilitating the final endorsement/conversion deadline
Assist in enforcing extension fees
Posting loan activity to borrower’s loan history
Customer service oriented
Exceptional organizational skills and attention to detail
Excellent skills in cash management functions as well as budget set up and tracking
Strives for 100% accuracy and compliance with regulatory agencies
Highest degree of integrity and professionalism
Ability to adapt in a growing/changing environment
Strong mathematical and typing skills
Making, servicing, and supervising loans
Has knowledge of agency farm loan programs and eligibility requirements
Has knowledge of the technicalities of farm financing and credit, financial management concepts and practices, farm operations, land use and value, production and marketing of various crops and livestock, and prices and markets in the serviced farming areas
Occasional travel may be required
Two full academic years of progressively higher level graduate education or master's or equivalent graduate degree (LLB, JD, LLM, Ph.D., etc.) from an accredited college or university with a major field of study in finance, business administration, economics, accounting, engineering, mathematics, banking and credit, law, statistics, or other fields related to the position, such as agriculture, agricultural economics, farm, livestock or ranch management, or rural sociology; OR
One year of specialized experience equivalent in difficulty and responsibility to the GS-7 level in the Federal service or private sector equivalent. Experience that demonstrates competence in agricultural loans. Experience may have been gained in such work as reviewing and passing upon applications for agricultural loans; servicing an agricultural loan portfolio of a bank or other loan association; or similar work. Experience that demonstrates knowledge of credit principles and practices to assess the fundamental soundness of individual loans by independently examining applications, supporting documents, and credit reports, and maintaining servicing activities on small agricultural loans. In addition, experience must demonstrate knowledge and understanding of farm operations, land use and value, production of various crops and livestock, and prices and markets in the farming area where loans are made and serviced; OR
A combination of education and experience as listed above
Serve as the primary State-wide contact for Lenders, Realtors and Rural Development Staff related to the successful implementation of the Guaranteed Loan Program
Incumbent is responsible for providing direct oversight to the planning, scheduling and executing all tasks related to the Guaranteed Loan Program to· include conducting Lender Compliance Reviews and preparing related reports, preparing training materials and conducting Lender and staff training
Reviews and analyzes preapplications, applications and all supporting documents to determine loan or grant eligibility
Checks for compliance of regulatory requirements, financial position, Soundness of collateral, repayment ability, and takes appropriate action for orderly processing of the loan and/or grant
Reviews file for completeness and compliance with all prescribed regulations and practices before loan closing; prepares draft loan closing documents for review as appropriate; reviews executed loan closing documents for completeness and legal accuracy
Reviews requests for servicing actions such as use of reserve funds, rental rate and utility allowance changes and prepares necessary documentation to resolve any problems
Regulatory compliance knowledge with respect to consumer loan documentation
Experience in mortgage lien filing, title work and UCC filing
Knowledge of consumer credit policies and products
1 – 2 years experience working with an imaging system
1 – 2 years experience working with loan documents
Ability to resolve minor research issues
Reviews and analyzes loan and grant applications, pre-applications and all supporting documents for completeness and conformance with RD statutory regulations, policies, procedures and practices and inputs data into appropriate automated database systems
Performs comprehensive review and in-depth analyses of financial credit data documents germane to the loan application eligibility, feasibility, credit-worthiness and viability with assigned loan portfolio(s)
Performs servicing actions to include site visits to determine a project's conformance with loan requirements; monitor civil rights compliance; evaluate/mitigate and/or prepare environmental assessments; and review key data to ensure multiyear forecasts are realistic
Incumbent with typically have 2-5 years of mortgage lending experience
Handles non-routine, complex job duties with limited supervision
3 years of mortgage or bank related experience
Initiate / convert in-bound & out-bound sales targets
Manage customer from enquiry to settlement
Provide on-going customer contact throughout entire loan application process
Work closely with other business units that are considered a key element to meeting objectives
Reviews and analyzes loan and grant applications, pre-applications and all supporting documents for completeness and conformance with RD statutory regulations, policies, procedures, and practices, and inputs data into appropriate automated database system
Performs comprehensive review and in-depth analyses of financial credit data documents germane to the loan application eligibility, feasibility, credit-worthiness, and viability within assigned loan portfolio(s)
Performs servicing actions to include site visits to determine a project’s conformance with loan requirements: monitor civil rights compliance: evaluate/mitigate and/or prepare environmental assessments; and review key data to ensure multiyear forecasts are realistic
Mandarin or Korean speaking
Minimum 3 years banking experience
Excellent relationship and networking skills
3-5 years' experience in consumer lending or mortgage sales
Frequent travel throughout the region
Knowledge of lending regulations
Effective communication skills, including sales, negotiation, coaching, and training
Prior Sales Management experience preferred
Must be able to read, comprehend and retain knowledge concerning Loan Operations documentation and procedures
Basic typing and calculator skills required
Ability to work under pressure is required
Must be able to prioritize, establish effective work and attain department standards and goals
Must be ok with lifting the weight of a case of paper if needed to
Must be able to physically work in stand-up type environment

Mortgage Lending Non-performing Loan Specialist Resume Examples & Samples

Minimize risk through consistent and accurate application of Bank, investor, insurer and regulatory guidelines in relation to default processes
Analyze various forms of loan and client documentation for completeness, aging and financial purposes
Manage assigned loan population for strict adherence to applicable timeline requirements
Complete loan research and notations of the servicing file in Mortgage Servicing Platform (MSP) and auxiliary systems
Provide excellent customer service to clients, internal and external business partners, and vendors, both over the phone and in writing, following the Perfect Client Experience model
Track, resolve and ensure appropriate handling of client complaints by properly logging them in the appropriate system, notating a detailed explanation of the issue and resolution, and correctly routing for reporting purposes
Maintain compliance with federal and state privacy regulations to safeguard client information
Enhance personal and professional growth through completion of mandatory training courses within the given timeframe, as well as voluntary training and education related to job function or areas of interest
Strong analytical and organizational skills with great attention to detail
Ability to manage time and priorities wisely
Ability to grasp concepts quickly
Flexibility to adapt to frequently changing processes and procedures
Bachelor's degree, or equivalent education and related training
Two years of related experience
Experience in mortgage, banking, financial risk, audit or compliance
Knowledge of basic collection, mortgage servicing and default servicing concepts
Knowledge of MSP
Process loan files for completeness and identify any missing documentation or potential problems
Process loan files for funding by reviewing the analysis for accuracy and by completing the Request for Documents form to ensure all regulatory information and loan terms are accurately input into the computer system to meet compliance
2-5 years experience with commercial and/or construction loan processing, and commercial real estate loan underwriting
Analyze each loan file, ensuring the LAW form, loan narrative (if applicable), appraisal(s), application, preliminary title report and verifications meet secondary market and First Republic Bank loan program criteria and are accurately documented
Prepare loan files for funding by reviewing the analysis for accuracy and by completing the Request for Documents form to ensure all regulatory information and loan terms are accurately input into the computer system to meet compliance requirements
Complete KYC Flightpath compliance for all loan types
Review loan files for completeness and identify missing or stale documentation
Analyze loan files, ensuring loan narrative, appraisal, application, preliminary title report and verifications meet secondary market and First Republic Bank's loan program criteria
High school diploma required; college degree preferred
5+ years experience in banking/financial industry and SFR mortgage loan underwriting
Excellent quantitative, computer, communication skills are required
Analyze appraisals, preliminary title reports, etc
Analyze business and individual tax returns including K-1’s and financial statements
Ability to multi-task and work in fast paced/deadline oriented environment
Effective written and oral communication skills
Proactive, positive, and open-minded attitude with high degree of accountability and ability to work independently and with the team
Advanced Excel and Word skills
Excellent customer service skills and willingness to communicate with all members of team
Perform duties and responsibilities specific to department functions and activities
Performs other duties and responsibilities as required or assigned by supervisor
Extensive work experience in residential processing and underwriting is required, commercial and/or construction loan processing and underwriting suggested but not required

Commerical Loan Specialist Resume Examples & Samples

Strong knowledge of department computer applications and systems
Excellent time management skills
Excellent written and verbal skills
Solid interpersonal skills
Associate Degree required, Bachelors Degree preferred
Reviews loan applications for completeness and conformance with statutory regulations, policies, procedures and practices; analyzes and inputs data into appropriate automated database systems
Prepares written loan approval determinations or recommendations for loan approval and submits to approving official as appropriate
Conducts field site visits to determine a project’s conformance with loan requirements
Develops, implements and coordinates a broad and aggressive outreach and marketing program for assigned loan portfolio(s)
Cultivates key relationships, fosters support and raises awareness appropriate to assigned portfolio(s) with key business, civic, community and local government entities and community interest groups to facilitate the partnering with RD in the interest of developing essential and viable projects
BS Degree or equivalent work experience
Minimum 2 years previous loan operations experience, preferably working with real estate secured loans
Bilingual Candidate preferred
Flood Insurance procedures and policy knowledge a plus
Loan Documentation for RE secured loans preferred
ALNOVA, AFS or TSYS systems experience preferred
Must have excellent attention to detail, able to work under pressure, efficiently prioritize work and multi-task
Must have excellent, professional, verbal customer relation and written communication skills
Must have 10 key experience, PC experience utilizing Microsoft Office (Excel, Word)
High school diploma, ideally with college-level business course work
Two or more years experience in position
Demonstrated ability to produce accurate work
Knowledge of state and regulatory requirements pertaining to commercial loans
Proficient in Word, Excel, and commercial loan systems
Ability to identify document errors or variances and make corrections
Prepare all loan request documents
Order external agency reports, i.e. title, insurance, etc
Gather customer income and net worth information
Prepare commitment letters
Coordinate loan closings
Verify loan system accuracy for boarded loans
Ensure loan file meets bank and regulatory requirements
Make advances and payments on commercial lines
Answer customer questions
Arrange payoff of property liens
Prepare disbursement checks
Balance commercial loan suspense accounts monthly
Detailed orientated with excellent organizational skills, and the ability to handle multiple priorities simultaneously
Responsible for complete and accurate on-line accounting system data entry for commercial loans
Responsible for the disbursement of new loan funds and payoff of collateral liens
Balance commercial loan GL accounts and other related accounts
Provide data for lending reports
Comply with policies, procedures, security requirements, and government regulations

Loan Specialist, Trainee Resume Examples & Samples

 Verifies, compiles, and types application information for mortgage loans and or titles: Reviews residential loan application file to verify that application data is complete and meets establishment standards, including type and amount of mortgage, borrower assets, liabilities, and length of employment and marital status
 Recommends that title and loan not meeting standards be restructured or denied
 Informs supervisor of discrepancies in title or survey
 Calls for and reviews sales contracts as well as any required addendums
 Prepares loan for Initial CD issuance
 Submits approved mortgage loan file to the Mortgage Loan Closer for settlement
 Records data on status of loans, including number of new applications and loans approved, canceled, or denied, using computer
Bachelor's degree (B.A) from four-year College or University
Motivated, hard-working and self-starter
Proven ability to handle multiple projects and meet deadlines
Analytical skills, detail-oriented and ability to made decisions based on assessments
Able to organize, establish priorities and analyze
Ability to work both in a team environment as well as independently; should be self-driven and highly motivated

Fast Track Loan Specialist Resume Examples & Samples

Initiates and maintains contact with customers and realtors throughout the processing period, assisting them with any questions and notifying them of any additional information needed
Monitors loans in process to determine any deviation from standard processing time and to take appropriate actions including notifying the manager for alternatives to ensure timely service
Sets and maintains proper expectations to all parties
Establishes accurate closing date and monitors promised closing dates to meet those established. Meets standards for closing percentages of loans processed
Notifies the customer of the underwriting decision
High School Diploma required, Associate’s Degree Preferred
Requires good analytical and math skills, strong oral and written communication skills, and outstanding computer skills
Ability to work flexible hours as needed
Ability to function in an ever changing environment
Demonstrate strong interpersonal, organizational, and time management skills
Ability to solve problems
MS Office proficient
Excellent customer service skills with strong attention to detail
We offer competitive salaries, an excellent benefit package including medical, dental, vision, and (401k)!*

Loan Specialist Trainee Resume Examples & Samples

Essential Job Functions
 Excellent Customer Service. The Loan Specialist is the sole customer contact, and may act as liaison between the borrower, underwriter and loan officer. The Loan Specialist is required to provide periodic status updates, and timely return all incoming inquiry calls
 Calls specified companies to obtain property abstract, survey, and appraisal etc
 Prepares loan application file for underwriting approval
 Types and mails approval and denial letters to applicants
Excellent Customer Service. The Loan Specialist is the sole customer contact, and may act as liaison between the borrower, underwriter and loan officer. The loan Specialist is required to provide periodic status updates, and timely return all incoming inquiry calls
Recommends that title and loan not meeting standards be restructured or denied
Calls specified companies to obtain property abstract, survey, and appraisal
Informs supervisor of discrepancies in title or survey
Prepares loan for Initial CD issuance
Prepares loan application file for underwriting approval
Types and mails approval and denial letters to applicants
Submits approved mortgage loan file to the Mortgage Loan Closer for settlement
Records data on status of loans, including number of new applications and loans approved, canceled, or denied, using computer
Must be able to perform at a fast past in a high production environment
Minimum of 55 wpc accurate typing
Must be flexible at performing difference function with the department
Reviews loan packages and/or transactions for any changes/exceptions; requests additional documentation and/or supporting documentation and/or supporting documents, if needed
Good knowledge of the products, policies and processes that relate to unit assigned
Good knowledge of banking operations
Conducts interviews with loan applicants, reviews loan applications and makes preliminary inquiries to assess the eligibility of applicants
Evaluates financial situations and credit risks
Provides loan supervision and oversight of borrower accounts
Obtains required documentation and processes all small business loan packages
Ensures compliance with banking rules and regulations
Inputs loan data into settlement and SBA systems for setup and activation
Coordinates settlements with customers for purchase of SBA loans
Prepares settlement packages for funding
Prepares monthly loan certificate inventory
Processes and posts all SBA loan principal and interest payments
Processes and posts loan payoffs
Balances SBA loan transfer fees
Advanced concepts, practices and procedures of small business loan documentation and processing
Principles of banking and finance
SBA Underwriting guidelines and regulations
Loan software packages
Accounting principles
Processing the most complex loan packages
Verifying loan packages and supporting documents
Preparing loan settlement packages
Preparing inventories and reports
Performing advanced loan calculations
Operating standard office equipment and using required software applications, including Microsoft Office
Read, interpret, analyze and apply information from loan package documents
Bachelor's Degree and minimum of five (5) years of small business loan processing experience
Enhance personal and professional growth through completion of mandatory training courses within the given timeframe as well as voluntary training and education related to job function or areas of interest
Serve as designated point of contact responsible for providing co-workers with mentoring and assistance on questions and issues that arise on a daily basis
Review and approve financial exceptions within designated limits
Assist with special projects, department initiatives, remediation reviews and additional duties, as assigned
Assist supervisor with day-to-day responsibilities such as assigning work to associates, monitoring internal reporting, performance monitoring, and other delegated tasks
Apply default servicing expertise and demonstrate sound decision-making by resolving complex loan issues, escalations, high priority matters and various tasks
Work with supervisor and internal business partners on researching and responding to internal and external audit findings
Develop training materials and job aids to organize and conduct new-hire and refresher training for associates
Identify and recommend solutions to policy and procedure gaps in an effort to reduce operational risk and improve processes
Serve as subject-matter expert whose responsibilities may include representing the business unit in different mediums, including internal and external process reviews and process improvement initiatives
Five years of experience in any combination of finance, operations, risk management, quality assurance, banking or equivalent
Excellent analytical and organizational skills with great attention to detail
Self-starter with ability to manage time and priorities wisely, as well as work on multiple tasks at the same time
Ability to grasp concepts quickly, make sound decisions and resolve issues completely
Demonstrated ability to interact effectively and professionally with team members and management of all levels
Ability to work independently and seek guidance appropriately
Four years of experience in Loss Mitigation, Foreclosure, Post-Foreclosure, Quality Assurance, or a call center environment, such as Customer Service or Collections
Advanced knowledge of MSP
Supervisory, management or leadership experience
Provide technical advice, guidance,and credit counseling to loan applicants and borrowers
Has knowledge of agency arm loan programs and eligibility requirements
Two full academic years of progressively higher level graduate education or a master's or equivalent graduate degree from an accredited college or university with a major field of study in finance, business administration, economics, accounting, engineering, mathematics, banking and credit, law, statistics, or other fields related to the position, such as agriculture, agricultural economics, farm, livestock or ranch management, or rural sociology; OR

District Loan Specialist Resume Examples & Samples

Business development and full cycle sales of personal loans, automobile loans and other credit related products
Follow up on leads from customer inquiries (online or through customer service)
Assist customers in making financial decisions to help them achieve their financial goals
Learn all facets of direct consumer lending
Learn credit underwriting techniques and skills
Manage servicing and collections activities
Provide referral or walk-in customers with the proper loan products to fit their needs
Accurately comply with company guidelines and procedures
Educate customers on the terms and conditions of the loan to ensure a clear understanding
Network within the community to gain referral business
Work as an individual contributor and as part of the team to achieve business/organizational objectives
Excellent communication skills with an emphasis placed on telephone etiquette
Ability to follow through on commitments in a timely manner
Strong attention to details
Customer focused with a sense of urgency
Ability to prioritize multiple duties
Ability to work with a variety of groups
Computer skills with the aptitude to navigate and learn new systems
Demonstrated financial responsibility, character, and general fitness such as to warrant a determination that individual will operate honestly, fairly, and efficiently
Assist with processing and reviewing monthly draws
Assist with Processing Borrower Loan/Construction Start requests and Lot purchases
Review, Reconcile, and update Client inventory and borrowing base reports
Order and review appraisal reports and flood certifications
Submit and Track invoices and review and distribute Interest statements to clients
Submit closing packages to CLO for review and closing/booking, including preparing wires and monitor DDA for NSF
Ensures compliance with applicable federal, state and local laws and regulations. Completes all required compliance training. Maintains knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Takes responsibility to keep up to date with changing regulations and policies
Support Loan Officers in loan closing and funding
Underwrite new and renewed loan under $1 million and credit modifications and amendments
Assist Loan Officers in customer service and follow up on outstanding items
Assist Loan Officers with various account monitoring activities
Assist with coordinating and training tasks for less experienced Loan Assistants
Education: College degree in business or finance preferred but not mandatory
Experience: 3–5 years in commercial lending environment
Skills/Ability: PC Proficient and detail oriented. Strong verbal and written communication skills. Bilingual (English/ Mandarin or Cantonese) is a plus. Ability to effectively interact with customers and all levels of management

Sbld Loan Specialist Resume Examples & Samples

Reviews electronic and physical records for accuracy
Lien perfection and release
Reports reconciliation
Night End Processing for PCFS (core data system for SBA and USDA loans)
Provides customer support to internal and external customers
Ability to read and comprehend simple instructions, short correspondence, and memos
Ability to read, analyze and interpret financial report and/or legal documents
Ability to write simple correspondence
Ability to write routine reports and business correspondence
Ability to speak effectively before groups of customers or employees
Acts as a liaison between the borrower, loan officer, underwriter, and loan closer
Collects required documents from applicants and follows up on missing items
Orders and reviews appropriate documents to ensure all paperwork is complete for loan
Checks appropriate data programs for accuracy and completeness of information
Works with MLO in expiring locks and for requests in extensions/modifications and requests changes with Investor
Ensures all departmental documents and activities are performed in compliance with applicable laws, regulations, policies and procedures as applicable to this position, including completion of required compliance training
HS Diploma/GED
1-2 years mortgage processing preferred
Experience closing, processing or shipping mortgage loan files is preferred
At least 2-5 years’ experience as a Mortgage Loan Processor
Previous experience in EnCompass 360 is preferred
Ability to multi-task in a fast pace environment while meeting required deadlines
Attention to detail – you maintain accurate credit and loan files and follow through in all aspects of the job

Home Mortgage Loan Specialist Resume Examples & Samples

Meets loan production goals as assigned by the Home Mortgage Sales Manager
Provides exceptional customer service
Solicits real estate loan applications from sources outside the bank with effective business development efforts
Quotes rates and explains programs accurately and completely to borrowers
Compiles loan packages and relevant documentation to be submitted for processing while strictly adhering to all regulatory and bank requirements for the protection of customer’s Non-Public Personal Information (NPPI)
Coordinates with processor, customer, Title Company, etc. as necessary
Develops a productive team atmosphere with assigned branches and the Home Mortgage underwriting department
Maintains a current understanding of established Tri Counties Bank policies and procedures including but not limited to regulations as they pertain to mortgage loans: SAFE Act, Equal Credit Opportunity Act (Reg B), Truth in Lending (Reg Z), Bank Secrecy Act (BSA) Fair Lending, Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), OFAC compliance, Identity Theft red flags, Unfair Deceptive or Abusive Acts or Practices (UDAAP), privacy- Gramm-Leach Bliley Act (GLBA) and Non-public Personal Information (NPPI) regulations, Dodd Frank Loan Origination Rule, Dodd Frank Qualified Mortgage/Ability to Repay Rules, and Home Mortgage Disclosure Act (HMDA)
Refers customers back to branch partners for possible cross sell opportunities when appropriate
Performs other work-related duties as assigned
Maintains working knowledge of loan product alternatives
High school diploma or GED required, undergraduate degree preferred
Minimum 5 years direct experience in mortgage lending or related field
Good organizational skills to accommodate involvement in multiple areas
Ability to work with people in an efficient, friendly and professional manner
Ability to utilize personal computers and Windows driven programs
Able to be registered as a mortgage loan originator (MLO) in the Nationwide Mortgage License System and Registry (NMLS)
May have credit signing authority within delegated limits, including clearing conditions and issuing changes to the terms on previously approved loans
Responsible for, but not limited to, verifying conditions of loan approval with may include customer income/assets documentations
Confirms Loan Operating System (LOS) and AUS data integrity
May resolve routine title issues such as vesting issues, judgment liens
May process subordinations
Resolves appraisal disputes
Escalates any issues that impact a loan transaction
Maintains a high level of customer service by being proactive in communication with customers (may include realtors, attorneys, builders, financial planners)
Ensures that loans are processed in accordance with PNMAC policy and procedure
3+ years experience in a mortgage lending and/or financial services environment- preferably pre-qualifying, reviewing, and analyzing loan documents
Knowledge of federal and state laws pertaining to the mortgage-banking industry
Expertise in and experience providing value-added customer service in a fast-paced environment
Experience using automated financial and/or loan tracking systems
Working knowledge of business mathematics
Strong communication skills and ability to effectively interact with customers and Realtors

Non Performing Loan Specialist Resume Examples & Samples

Appraisal related duties
Support of the Real Estate Owned (REO) staff
Working knowledge of Microsoft office Software to be able to work in data bases, pull queries and analyze data
Ability to work with multiple vendors
Ability to produce polished and informative reports
Knowledge of mortgage, state and federal regulations such as the Fair Debt Collections Act
2-3 Years Experience with real estate market knowledge in areas of valuation and equity analysis
Must have strong verbal and written communication skills
Must be able to read, comprehend and retain knowledge concerning Loan Operations processes, methodologies and procedures
Must have strong analytical skills as well as above average data entry skills
Must demonstrate strong attention to detail
Must have an outstanding customer-centric mindset
Must have proficient use of MS Word and Excel
Must be able to lift files on a daily basis
Must have loan documentation knowledge
Must have the ability to multitask while working under pressure
Ability to exercise good judgment and make sound decisions
Some college
DealerTrack, CT Lien Solutions and TS2 loan systems
Must have 2-3 years experience in an Operations environment, preferably with loans
Experience with Google Docs and Sheets
Mandarin language capability is essential
Cantonese speaking -desirable
Lending experience is essential

Private Client Loan Specialist Resume Examples & Samples

40% - Coordinates with Private Bankers to assist in defining the customer experience, identifying improvement initiatives, assessing ROI, and building the business through product development and/or support. Collects and analyzes customer financial data to suggest products to the Banker for the customer
40% - Organizes and prioritizes loan closings to meet deadlines; obtains signatures on all closing documents and verifies their accuracy and completion; establishes/maintains customer files; obtains credit information and ensures sufficient loan collateral. Calculates loan items and charges such as interest and payments. Assists lending officers in activities such as disbursement of funds and extension of new loans. Prepares loan documents, notices, and periodic loan reports
10% - May assist in budget preparation and control activities; administers programs, projects, and/or processes specific to the business line to be supported
10% - Other duties as assigned
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
Assigning and distributing work loads
Monitoring work queues and intervening as needed
Interacting with multiple departments to expedite processing and/or issue resolution
Performing other related duties as required and assigned
Demonstrating behaviors which are aligned with the organization’s desired culture and values
Must be a team player with strong attention to detail and able to work independently
Excellent critical thinking, problem solving, mathematical skills and sound judgment
Effective time management skills to deliver work on time
Capable communicator, written and oral
Demonstrated proficiency with computers and mainstream computer applications (Microsoft, Google, etc.)
Financial Services and, if possible, mortgage industry experience preferred
General understanding of applicable Federal, State and Local regulations
2 Year college degree (Associate) or equivalent work experience
Minimum Years of Experience Less than 1 year
Performing complex data and document validation
Troubleshooting third part orders (title, appraisal, hazard, flood cert, credit, etc.)
Handling more complex calls, emails or chat sessions
Completing appraisal eligibility tasks
Evaluating loan applications for compliance with product guidelines
Evaluating loan applications for regulatory compliance
Highly proficient communicator, written and oral
Minimum Years of Experience 3+ years
Calculation of income for wage earners
Income documentation validation
Calculation of personal liabilities
Calculation of Debt to Income Ratio
Calculation of funds to close and reserve requirements
Asset Documentation validation
Proficiency in Excel environment
Contemporary knowledge of mortgage loan file and operational practices
Experience with personal and business tax return analysis
Windows and Microsoft office Suite
Basic Mathematic calculation skills
Ability to articulate in writing documentation needs to internal and external clients
Previous success working in an environment with production and quality metrics
Demonstrates ability to advance assignments independently and within established deadlines
Previous experience navigating agency guidelines and handbooks
Two years similar work experience
Ideal candidate has some preliminary mortgage processing experience

MB CM Sppt Loan Specialist Resume Examples & Samples

Call Center & Customer Service experience is required
Minimum two years mortgage experience is required
Must be highly motivated, committed, and detail oriented individual
College diploma or equivalent work experience
Excellent data entry skills with a minimum of 55 wpm
Very strong mathematical skills
Strong PC skills on Microsoft Excel and Word
Must be able to perform in a high pressure, time sensitive environment
Knowledge of pricing/registration/secondary marketing is a plus
Accounting experience preferred
Utilize the AFS system daily
At least two years of experience working within Loan Operations
Knowledge of the AFS & ALNOVA Loan systems strongly preferred
Knowledge of debits and credits and previous experience in balancing transactions strongly preferred
Must have accurate alpha and numeric keyboarding skills
Proficient use of PC’s for data entry, data retrieval, word processing and email
Must be able to work under pressure, prioritize work and meet deadlines
Must be able to multi-task with ease
Knowledge of Loan Documentation strongly preferred
Must be able to demonstrate the ability to exercise a high level of confidentiality

Loan Specialist Lead-central Funding Resume Examples & Samples

Functions as the lead for small groups of staff employees
Handles complex and difficult loan processes
Service as business expert in area assigned
Uses judgment and analysis of multiple governing corporate policies
Responsible to lead, train and mentor lower level specialists but does not perform hiring, discipline or formal coaching
Responsible for creating metric reports for the group
Responsible for participating in projects
Provides administrative and/or operational support within the one or more of the following loan areas; processing, closing, presentations, servicing, documentation, notes, disbursements, etc
May clear identified loan exceptions
Performs review of targeted collateral documents and loan packages to insure bank's security interest and adherence to established policies and procedures
Updates computer system with pertinent collateral information and collateral exception information; tracks and clears said exceptions
Works with lending staff in resolving discrepancies in collateral documentation
Research and process rejected payments and handles payments received when collateral is released
Calculate pre-payments penalties and coordinates settle escrow funds when a loan is paid off
Incumbent is responsible for conducting a complete and accurate payoff transaction
Is able to step in and support day to day production team to meet service and quality promises
Must possess exceptional numeric and verbal aptitudes
Strong written and verbal communications skills
Ability to lead and mentor lower level employees and handle complex problems and issues. Working knowledge pc's and various word processing, spreadsheet or related software
Provides administrative and/or operational support within one or more of the following loan areas; processing, closing, servicing, documentation, notes, disbursements, etc
May clear all identified loan exceptions
Maintains files, documents, notes, etc
Performs review of loan and collateral documents and loan packages to insure bank's security interest and adherence to established policies and procedures
Produce reports as required
Knowledge of banking processes helpful. Must have good organizational and customer service skills
Working knowledge PCs and various word processing, spreadsheet or related software
Responsible to provide administrative and/or operational support within the one or more of the following loan areas; closing, funding, post-closing, shipping, etc
Duties may include assembling loan documents for transmittal and verifying their accuracy; closing loans and distributing loan proceeds
Ensures the accurate, efficient, and timely flow of information and documentation
May need to follow up with borrower, loan originator, title company or others to resolve questions, correct information, or other issues as needed
Ensures that everything is complete in compliance with laws, regulations, and internal policies
Requires High School diploma or equivalent and some previous banking or loan process experience or other directly related experience
Working knowledge pc's and various word processing, spreadsheet or related software
Preparing or analyzing residential, commercial, or public sector loan applications using cash flow, financial statements, historical and annual operation analyses; including collections and foreclosure procedures; or
Processing real estate transactions including qualifying, evaluating and extending credit to borrowers, and property inspections; or
Marketing, analyzing, servicing, or underwriting residential, commercial, or public sector loans; or
Economic or community development
Experience with Microsoft office suite: Word, Excel and Outlook
Self-starter with the ability to prioritize workload in response to changing deadlines and priorities
Experience working in an environment where accuracy and attention to detail is critical
Experience reviewing documents and work for accuracy
Ability to handle confidential and/or sensitive information
Experience entering, updating and retrieving database information accurately and efficiently
Experience communicating decisions and the rationale behind them to fellow team members
Supports collaborative working relations by demonstrating flexibility, considering options and taking initiative
Analyzing income eligibility using pay stubs, W-2's, financial statements, cash flow and historical and annual operation analysis, OR
Analyzing, servicing or underwriting residential, commercial or public-sector loans
Completed E-recruit application: The work experience section must contain enough information to determine that minimum qualifications have been met. A resume' (text or attachment) will not replace the work experience section of the application. Work experience is based on a 40 hour work week. (Example: 20 hours a week for one year would equate to six months of full-time work experience.)
Transcripts:Must be attached if using education to meet minimum qualifications. Note: To protect your confidential information, please redact (black out) your social security number on all transcripts before attaching to your application
Supplemental Questions: The work experience section of your application must verify your responses to all of the supplemental questions and show that you meet the minimum qualifications. Be sure to answer all supplemental questions; "see resume" or "see application" will notsubstitute for a response
Additional documents(if applicable):Be sure to attach all requested documents (cover letter, resume, work samples, etc.)
Solicits home mortgage loan applications from call lists
Works with bank employees to increase number and quality of mortgage referrals
Compiles loan packages and relevant documentation to be submitted for processing
Pre-qualifies borrowers prior to submitting package to processing
Develops a productive team atmosphere with branches and the Home Mortgage Underwriting Department
Maintains a current understanding of established Tri Counties Bank policies and procedures including but not limited to regulations as they pertain to mortgage loans: SAFE Act, Equal Credit Opportunity Act (Reg B), Truth in Lending (Reg Z), Bank Secrecy Act (BSA) Fair Lending, Real Estate Settlement Procedures Act (RESPA), OFAC compliance, Identity Theft red flags, Unfair Deceptive or Abusive Acts or Practices (UDAAP),privacy-Gramm-Leach Bliley Act (GLBA) and Non-public Personal Information (NPPI) regulations, Dodd Frank Loan Originator Rule, Dodd Frank Qualified Mortgage/Ability to Repay Rules and Home Mortgage Disclosure Act (HMDA)
Assists the Sales Manager with existing loans in process as needed
Minimum 2 years direct experience in mortgage lending or related field
Reviews loan application packages for completeness and requests additional information as required
Reviews loan documentation, requests additional information as required; reviews and administers loans in accordance with approval conditions, prepares loan documentation; reviews, analyzes and makes loan disbursements
Researches and resolves lending inquires and issues including processing loan advance and payment service
Tracks and follow up covenants with borrowers
Assists with developing marketing materials to distribute prospective customers and center of influences
Creates and monitors new pipeline, sales reports and progress
Coordinates with partners for Int'l Trade Operations, TM, MCS, Mortgage, Credit Card applications
High School degree or equivalent and a minimum 5 years in Banking required
Must have basic knowledge in consumer and business/commercial lending support
Understanding of principles of tax analysis and personal cash flow desired
Solid knowledge of consumer products, lending policies, procedures and practices
Excellent relationship building skills and the ability to work within a team
Must have the ability to multitask, have solid problem resolution and customer service skills with great attention to detail
Advanced customer service and communications skills

Documentation & Loan Specialist Resume Examples & Samples

Reviews loan approval to ensure compliance with bank policy and to ensure all risks are mitigated. Performs various searches prior to closing to ensure Bank’s collateral position and validity of borrower name . Ensures US Patriot Act, Regulation B and Flood pre-closing requirements are met. 35%
Reviews attorney prepared loan documents to ensure they conform with loan approval and commitment letter. Coordinates any necessary changes prior to closing. Primary liaison with bank counsel and Commercial Relationship Manager. 25%
Prepares loan commitment letters, loan documentation, loan modifications and letters of credit for various loan closings. 15%
Assists in loan closings, supports funding and management of fees prior to and at closing. Reviews loan documents following the loan closing for completeness and identifies any loan exceptions. Books loan in FIS system. Images loan documents in IS View and sends to safekeeping. Enters loan exceptions, loan policy exceptions, financial covenants and financial statement requirements in Baker Hill for tracking. 20%
Provides follow-up reporting of loan exceptions, reconciliation of Accounts Receivable for pre-closing expenses, and completion of compliance tests in Archer system. 10%
Assists DLS Supervisor with workflow and training needs of lesser experienced personnel. 5%
5+ years’ commercial loan documentation experience preferred
Proficient with Microsoft Office, Word, and Excel and the Internet

Senior Student Loan Specialist Resume Examples & Samples

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Outstanding customer engagement skills
Superior verbal/written communication skills
High level of enthusiasm and professionalism
Requires High School diploma or equivalent and some previous banking or loan processing, documentation, or loan assistant experience or other directly related experience
Knowledge of banking processes and procedures helpful
Knowledge with computer programs i.e word processing, spreadsheets or related software
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
Must have 2+ years of Consumer Loan experience
This position requires knowledge of Compliance, comprehension of legal documents, appropriate government lending regulation guidelines for consumer loans
Must have excellent oral and written communications skills as well as excellent customer service skills
Must have the ability to resolve problems quickly
Must be able to make decisions and recommendations on difficult and important issues affecting individual loan transactions within their level of authority
The incumbent will also be required to talk, hear, see, read and write
This position requires regular lifting and moving of 10-25 lbs
Incumbent must be able to understand and follow basic instructions and guidelines, complete routine paperwork, use existing form letter and/or conduct routine oral communication, communicate with individuals using a telephone, hear and speak effectively on the telephone, express or exchange ideas by means of spoken word, communicate orally with others accurately and quickly, at an audible level that others can hear
Assist bank/department personnel with questions on SBA loans as it relates to any department issues
Assist underwriting SBA loans in accordance with the Bank’s policies and procedures
Providing frequent communication to all parties involved in transactions in a positive and constructive manner
Assist in effectively managing the process to ensure loan requests are being reviewed efficiently, that customers receive timely answers, and that transactions are completed quickly and accurately
Assist in the processing, closing and funding of loans
Learn and maintain knowledge of company underwriting, closing, processing and lending guidelines
Learn, maintain and apply understanding of the bank's credit policy and SBA eligibility
Ensure proper pre-funding quality control steps are taken on all loans (under supervision)
Responsible for adhering to and complying with all Bank policies and federal and state banking laws and regulations
Perform a variety of other duties requiring knowledge of SBA procedures and bank procedures
Assist in the maintenance of files within the SBA software
Deliver excellent service to customers both inside and outside the Bank
Obtains required loan documentation and may process less complex loan applications
May prepare or review for accuracy, disclosures required by relevant consumer regulations
May perform basic loan calculations
May perform pre-closing/post-closing/due diligence review of legal agreements and other closing documents to terms of loan commitment
Independently prepares data input sheets and provides required information for loans to be boarded on the banks servicing system and ensure all loan coding is correct
Compliance with all state and federal regulations
Document preparation for retail and/or commercial loans
Preparing loan approval and/or closing packages
Basic analytical and problem solving skills
2+ years of current experience in Loan Servicing at a financial institution
Experience with FiServ ITI Premier Core preferred
Basic level of work experience, knowledge and training in loan servicing activities and terminology
Working knowledge of related state and federal banking compliance regulations, and other Bank lending policies
Basic skills in computer terminal and personal computer operation, mainframe computer system, word processing, typing and spreadsheet software programs to meet the needs of the position
Basic math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs
Exceptional verbal, written and interpersonal communication skills, with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, and speak clearly to customers and employees
Ability to work with little supervision while performing duties
Provides suggestions for restructuring or re-pricing deals that they think may not fit our current guidelines and offer alternatives. Will provided recommendations to RMs and Management
Maintain contact schedule with clients and PC RM’s, updating loan record on all communication
Provide input on model pricing and exceptions, as well as determining any mitigating factors that will be used when considering exceptions
Build a strong working relationship with the PC RM’s based on mutual trust
Audit conditions prior to file submission to underwriting to confirm the meet requirements
Assist clients with loan level questions and concerns
Strong communication skills that will help them gather sensitive data, challenge deadlines with clients, PCRM’s, CLC and LenderLive in order to maximize the client experience
The employee in this position must adhere to strict confidentiality policies and procedures
Perform related duties as requested
Knowledge of federal and state fair lending requirements
Working with unique and complex program guidelines
Ability to comprehend alternate models, pricing, exception guidelines to help restructure and re-price deals as needed (any pricing exceptions are to be approved by Market)
Coach and train others and share best practices
Advanced organizational skills with attention to detail
Tackle all decisions carefully and methodically, while being careful to base decisions off of facts, input from RM’s, and long term profitability for the bank. (in other words – protect the bank, client and RM’s)
Meet licensing requirements (SAFE Act & NMLS License )
Microsoft Office skills – intermediate
Strong/advanced relationship management skills (previous work with affluent clients a benefit)
Advanced time management and problem solving skills
Advanced understanding, interpretation and qualification of mortgage documents and products and investor guidelines with the ability to clear conditions
It will be the candidate’s responsibility to receive and review legal loan documents for compliance with regulatory and Citi policies
The candidate will also be responsible for performing financial transactions such as funding and pre-funding in conjunction with loan closings and as approved by credit. The candidate will be responsible for understanding the requirements for processing complex transactions such as working with SBA products and loans secured by Real Estate. They will frequently work with and will be communicating with loan closers, documentation specialist, Credit officers, Relationship Managers, Attorneys and Title companies. Their ability to follow up and communicate effectively will be critical to success in this position
The candidate will be on-boarding loans to our system of record capturing required data elements to support reporting and monitoring of facilities
The candidate will also need to work with and understand various types of collateral and related documents as they will be responsible for perfecting the collateral. The processor will be expected to develop a working knowledge of tools and systems required to perform detailed analysis of loan terms and collateral
The candidate will be involved in monitoring post booking reports and will work to resolve deficiencies in a timely manner. They will participate in audit reviews and develop an understanding of the process of obtaining and providing deliverables to audit
Must be technically minded/analytical & demonstrate proficiency with Office programs (Excel, PowerPoint)
Solid organizational skills – capable of understanding and mapping process flows

Student Loan Specialist Resume Examples & Samples

Analyze current semester students’ tuition, fees, and room and board charges to determine out-of-pocket portion and balance due after financial aid; answer or refer student/parent questions; discuss payment plan options and offer payment figures and due dates for each plan
Review Ohio Attorney General (OAG) weekly remittance to determine application of payments
Apply payments received for Perkins, Nursing, and Schell Loans; prepare payments for bank deposit
Analyze paid-in-full Federal Perkins Loan borrowers with credit balances on account; determine application of credit refunds; request overpayment of refunds to federal agencies and/or students; balance and close accounts
Perform mail processing and produce deferment/paid-in-full letters
Contacts student loan borrowers, co-makers, and responsible parties to provide information on account status, collect student accounts, and arrange for loan payments (includes: Federal Perkins Loans, Nursing Loan Programs, Schell Loans, Key Bank Loan Accounts and student accounts for both current and prior-term students)
Deregistration activities: research records for students with outstanding balances to verify charges/balances; document collection efforts; follow-up with additional collection activities to satisfy account balance prior to end of the semester; negotiate extended payment plans by way of Deregistration (Promise to Pay) Promissory Notes
Provide liaison duties with students, parents, faculty and staff; explain university policies and procedures related to tuition accounts; analyze current semester students’ tuition, feeds, and room and board charges to determine out-of-pocket portion and balance due after financial aid; answer questions or refer to appropriate resource; discuss payment plan options and offer payment figures and due dates for each plan
Provide financial counseling to resolve past due balances; restructure or revise payment terms; recommend deferments, hardships and allowable cancellations, or write promissory notes; advise debtors with past due accounts of proper payment schedules and principles of credit and credit standings; assist borrowers in default who are attempting to return to school with requirements necessary to regain Title IV eligibility
Apply payments received for Perkins, Nursing and Schell Loans; prepare payments for bank deposit
Analyze paid-in-full Federal Perkins Loan borrowers with credit balances on account; determine where to apply credit refund; request overpayment of refunds to federal agencies and/or students via check; balance and close accounts
Manage current and past due tuition accounts with objective of assisting students to maintain university enrollment while supporting fiscal objectives of the university
Apply payments received to proper accounts, reconcile, and make necessary adjustments
Direct communication and interaction with University Accounting Service (UAS) regarding the relationship, customer service, reporting and account management
Compile data and prepare monthly activity reports
Provide quality customer service and assure compliance with federal, state and university regulations, policies and procedures
Maintain collection records (e.g. documents conversations, correspondence, collection attempts, payment agreements, etc.)
Conduct exit interviews with graduating students to explain borrower rights and responsibilities of loan repayment
May train and direct student or temporary employees; may participate in training new employees
Perform related duties as assigned
Collection procedures; Fair Debt Collection Act *
Interviewing techniques (e.g. questions to ask, how to handle hostile calls, etc.) *
Utilizing Microsoft Office Suite and other applicable software (i.e. spreadsheet software) *
Managing time and resources and effectively balance multiple priorities
Operation of an adding machine or calculator *
Ability to analyze many variables, define problems, collect data, establish facts and determine specific action(s) *
Research and document new issues *
Work evenings and nights due to peak work periods *
Communicate effectively orally and in writing with a diverse customer base to elicit information necessary to resolve problems *
Ability to read and comprehend a variety of written material; to use proper research methods in gathering data; and to gather, collate and classify information *I
Ability to apply policies and procedures *
Ability to perform basic mathematics (e.g. add, subtract, multiply and divide whole numbers, fractions and decimals, to calculate percentages and simple interest on loans) *
Minimum one (1) year financial services experience
Ability to complete analysis, assessment/evaluation
Ability to identify and resolve conflicts and problems
Ability to interpretation policies
Ability to organize, balance figure, compute totals, verify calculations, and use analysis to arrive at an appropriate and justifiable underwriting decision
Ability to pass Credit Union insurance bond check
Computer knowledge including MicroSoft Office applications
Knowledge of Bank Secrecy Act Compliance and other laws and regulations related to the position
High school diploma or equivalent. (Preferred)
Minimum two (2) years related experience in consumer lending. (Preferred)
Knowledge of the mortgage loan administration process
Knowledge of general laws that apply to mortgage banking
Proficiency in both written and oral English and Spanish
Intermediate to advanced proficiency in computer programs such as Word, Excel, Power Point and Outlook
Ability to analyze information and identify deficiencies in the processes or controls established in the business units
Ability to redact corrective actions, procedures, operational manuals and internal controls in English and Spanish
Ability to effectively communicate with management
Ability to read and interpret guides, rules and procedures and formulate recommendations according to the result of the analysis
Ability to manage conflicts and negotiate effectively
Ability to organize and manage their time effectively in order to meet required deadlines
Ability to understand instructions and work independently with moderate supervision
Ability to work in teams and to be able to maintain great interpersonal relationships with internal and external clients
Monitor and document Retail Mortgage Banker performance by conducting calls
Develop written communication and facilitate employee coaching sessions and
1-2 years of auditing/quality or mortgage review experience preferred
Self-assured with excellent business relations and verbal/written communication
Able to lead and effectively participate in quality improvement discussions and
Basic knowledge of lending processes, loan systems and loan documentation
Ability to set and maintain high quality work standards
Strong project, modeling and presentation skills
Complete working knowledge of MS Office
Prior experience in a bank operations environment. Must have some accounting background. Payment processing and/or loan operations environment preferred
Must have detailed knowledge of debits and credits and previous experience in balancing transactions
Proficient use of PC’s for data entry and data retrieval
Must be able to work in a fast paced environment, work well under pressure and within a team focused environment, must be able to prioritize daily work. Must be required to multi task with ease
Demonstrate ability to exercise a high level of confidentiality
Input data into the Alnova system, consisting of processing payments/payoffs/paydowns for sumer and mortgage loans as as balancing to the system totals. 2. Assist with opening sorting morning and afternoon mail that includes Lockbox, US Mail, Federal Express and all other overnight cariers, interoffice mail, mail from branches and from Collections

Consumer Home Loan Specialist Development Manager Resume Examples & Samples

Evaluate applicant’s resumes and interview candidates for the Consumer HLS position
Conduct formal and informal training sessions
Conduct monitoring and coaching sessions
Complete performance reviews and improvement plans at designated milestones
Work with training department to coordinate training curriculums to enhance sales, customer service, technical skills and overall performance
Support agents with loan origination questions and concerns
Answer questions related to policies and procedures or use of desktop systems
Coordinate training with the Call Center Telephony & Corporate Training Depts
Working relationship with Operation, Underwriting, Compliance and Marketing departments, keeping abreast of current processes and guidelines
Working directly with Sales Managers ensuring a productive transition for new home loan specialist
Working knowledge of Originations and all applicable applications in the application process
Conduct quality monitoring and identify areas for improvement
Assist agents with side-by-side training
Conduct one-on-one performance evaluations for sales agents and deliver a development plan for each
Provide ongoing communication to agents
Implement corrective action procedures when required
Coordinate and communicate with operational Managers to identify application quality issues
Work with training department to coordinate training curriculums to enhance Agent’s sales, service, technical skills and performance
Education: College degree in financial field preferred. Work experience in lieu of degree may be considered
Experience: Minimum 5 years mortgage banking/financial management experience. Training experience and Instructional Design experience preferred
Skills: Analytical, excellent written and verbal skills. Ability to create and deliver training presentations
Competencies: Microsoft Office, PowerPoint, Excel and Word required. Visio and project preferred
Be responsible to provide administrative and/or operational support within the one or more of the following loan areas; closing, funding, post-closing, shipping, etc
Ensure the accurate, efficient, and timely flow of information and documentation
Follow up with borrower, loan originator, title company or others to resolve questions, correct information, or other issues as needed
Ensure that everything is complete in compliance with laws, regulations, and internal policies
Review loan documents for accuracy and completeness before execution
Ensure loan documents are in compliance with bank policies and procedures
Assist in loan closing; verify that terms and conditions are met before documents are executed
Close and fund commercial loans for lending units as needed
Verify sufficiency of insurance coverage for loan collateral properties
Verify UCC filing/lien position
File UCC-1 (Original & Historical) for East Coast Region
Setup Cash on Track, Linesheet and Stucky monitoring sheets
Update all applicable Bank software and systems based on approved terms and conditions and signed loan documents
1Monitor timely follow-up of collateral perfection
Release collaterals as loan is paid off or as approved
Resolve inquiries from Lending Units in a timely and satisfactory manner
Support Manager to meet Departmental goals and objectives
College graduate with a major in accounting or business preferred
4+ years commercial lending and banking experience with thorough knowledge of lending regulations
Strong verbal and written communication skills. Organized and detail oriented with high emphasis on accuracy
Must be able to accommodate East coast’s business hours

DLS Consumer Loan Specialist Resume Examples & Samples

Minimize risk of loss to the Bank by ensuring the completeness, accuracy, and compliance of retail consumer credit documentation through the audit, funding, and boarding process
Prepares loan and lease files for filming
Ensures predefined timeline for turnaround is met
Ensure quality customer service by correctly and quickly processing and disbursing proceeds to the dealer or broker
Ascertain, resolve, and/or escalate problems that may impact the Bank’s ability to disburse proceeds to the dealer or broker
Ensure the quality of applicant and contract information. This information will autoboard to the Bank’s accounting system and ultimately be used as the Bank’s primary reporting tool in determining risk, profitability, collateral and customer location information
Previous experience in a high volume/production environment preferred, proven clerical and/or data entry experience
Maintains working knowledge of standards and procedures
Maintains knowledge of systems and applications
Ability to interact with management and team members effectively
Educate borrowers on loan process and product/service alternatives
Interview borrowers and obtain and/or verify information and documentation
Analyze borrower credit for pre-approval or denial of loan applications
Make initial contact and respond promptly to customer inquiries to collect borrower financial and credit information
Process borrower credit information through online approval system
Inform borrowers on future loan documentation requests, including borrowers' income and asset information
Requires High School diploma or equivalent and some previous banking or loan process, documentation, or loan assistant experience or other directly related experience
A combination of education and experience may job requirements
Basic knowledge of lending processes, loan principles, documentation and loan systems
Knowledge of banking process and procedures helpful
Good research, audit and communications skills, both written and verbal
Working knowledge computer program i.e word processing, spreadsheets or related software
Qualify prospective borrowers
Meet with borrowers to complete loan application
Provide a list to borrowers of the items they need for successful loan fundings
Help facilitate open communication with borrowers and Loan Processors at the branch or in the Corporate office
Interact with the processing organization and operations to ensure that all files are closed on behalf of assigned Loan Consultant
Provide daily / weekly status to the Loan Consultant regarding status of all files currently in progress
Attend any identified mandatory Loan Consultant meetings
Comply with organizational standards, polices, and procedures
1-3 years in the financial services industry
NMLS loan originator license required
Continuing education classes required by licensing authority
Continuing training classes required by the company to meet CFPB requirements

Consumer Loan Specialist Senior Resume Examples & Samples

Provide weekly pipeline information and closed loans for the week by attending Team Sales Meetings and Pipeline Management meeting
Provide suggestions for restructuring or re-pricing deals that may not fit our current guidelines and offer alternatives; provide recommendations to RMs and management
Provide input on model pricing and exceptions; determine any mitigating factors that will be used when considering exceptions
Coordinate all client activity in order to meet desired closing dates
Effectively manage and own work queue ensuring queues and activity timelines are met
Audit conditions prior to file submission to underwriting to confirm they meet requirements
Deliver clean, complete and accurate files
Communicate effectively in order to gather sensitive data; challenge deadlines with clients, PCRM’s, CLC and LenderLive in order to maximize the client experience
Note: As part of the employment process for this position, you will have to meet the requirements of a background credit check. This position requires compliance with the S.A.F.E Mortgage Licensing Act of 2008 and all related regulations. Ongoing employment is contingent upon meeting all such requirements
5+ years of mortgage processing and/or operations experience
2+ years of customer service customer support experience required
Familiarity working with unique and complex program guidelines
Ability to comprehend alternate models, pricing, and exception guidelines to help restructure and re-price deals as needed (any pricing exceptions are to be approved by Market)
Prioritize workload and meet deadlines
Tackle all decisions carefully and methodically, while being careful to base decisions off of facts, input from RM’s, and long term profitability for the bank
Proficient in third party systems usage
Proven experience working in a fast paced, high volume, customer focused environment
Ability to explain complex deals in a clear, easy –to-understand manner while tailoring his/her remarks to each client, RM, or other internal /external customers
Advanced understanding, interpretation, and qualification of mortgage documents, products and investor guidelines with the ability to clear conditions
Advanced verbal and written communication skills
Must work well in challenging, fast-paced, high-stress and deadline oriented environment
Demonstrated financial responsibility, character, and general fitness such as to warrant a determination that individual will operate honestly, fairly and efficiently
Uses knowledge of bank and department policies and procedures to review and verify loan documentation; reviews Loan Presentations/CCR’s and Loan Documentation Checklists received from loan officers to identify omission of required documents; reviews adequacy of documentation
Conducts preliminary investigation of collateral with review of preliminary title searches, UCC searches, insurance certificates, and legal entity documents
Prepares loan documents per approval and CCR, ensures completed loan documents are distributed to appropriate departments
Maintains current knowledge of loan documentation through continued enrollment in bank and other-provider courses related, but not limited to, computer-based lending, LaserPro training, and the Community Reinvestment Act; remains abreast of additions and changes to federal and state legislation related to both commercial and real estate lending
Closes and funds moderate CRE loans, International Trade Finance loans, and Asset Based Lending loans (new, renewal, modification and amendment)
Reviews signed loan documents are complete, in compliance with Credit Approval and the terms and conditions are met
Processes loan disbursements requiring coordination with loan officers, other lenders, and/or title companies with purchase/pay off/take-over processing
Prepares and balances funding worksheets and request outgoing wires
Performs post-funding loan follow up such as filing UCC financing statements, ordering tax service contracts, and reviewing title policies
Updates all applicable bank software and systems based on approved terms and conditions and signed loan documents
Experience: 4+ years commercial lending and banking experience with thorough knowledge of lending regulations and Bank policy
Skills/Ability: PC Proficient. Strong verbal and written communication skills. Organized and detail oriented
Provides all applicable disclosures for both fixed and variable-rate loans as required by federal regulations
Moves loans through the mortgage pipeline and makes sure loans are closed on-time and before rate locks expire
Establishes and maintains open communication with customers, as well as with outside vendors throughout the application and approval process
Prepares closing package, researching and resolving all items in the closing package to ensure closing process is on-time and documentation is complete and accurate
Orders title insurance, appraisals, and necessary documentation to ensure loan conditions are met
Reviews title work to make sure that all exceptions are clear and that the credit union will have the appropriate recorded lien position
Makes recommendations for loan decisioning to appropriate parties
Must be registered or have the ability to register with NMLS as Mortgage Loan Officer
One or more years’ experience in real estate lending
Must be organized, detail oriented and have the ability to manage the mortgage pipeline
College level coursework
Background in making credit decisions, underwriting, and using automated underwriting tools such as Desktop

Lead Loan Specialist Resume Examples & Samples

You may be expected to travel for this position
To begin, click to create a USAJOBS account or log in to your existing account. Follow the prompts to select your USAJOBS resume and/or other supporting documents and complete the occupational questionnaire
Click the Submit My Answers button to submit your application package
It is your responsibility to ensure your responses and appropriate documentation are submitted prior to the closing date
To verify your application is complete, log into your USAJOBS account, select the Application Status link and then select the more information link for this position. The Details page will display the status of your application, the documentation received and processed, and any correspondence the agency has sent related to this application. Your uploaded documents may take several hours to clear the virus scan process
To return to an incomplete application, log into your USAJOBS account and click Update Application in the vacancy announcement. You must re-select your resume and/or other documents from your USAJOBS account or your application will be incomplete
Your Resume - must contain the following information
Name, address, telephone number, email address
Supervisor's contact information, if available (indicate if you would prefer to be notified before your supervisor is contacted)
Job Title (if Federal Service, provide series and grade; if not in GS plan, provide GS equivalent grade)
If qualifying based on related unpaid (e.g. volunteer service) experience, you must provide hours worked per week and beginning/ending dates (mm/dd/yy to mm/dd/yy)
If other than full time you must provide hours worked per week
An integral part of our selection process includes the completion of reference checks. Please provide the names and telephone numbers of three professional references (e.g., current and/or former supervisors, college or university professors, managers or coordinators of volunteer activities, etc.) who know your qualifications relative to this position and who we can contact to verify your credentials. Do not list personal friends or relatives
PLEASE BE CLEAR AND SPECIFIC. WE WILL NOT MAKE ASSUMPTIONS REGARDING YOUR EXPERIENCE. If your resume/application does not support your questionnaire answers, we will not allow credit for your response(s). Your resume must contain sufficiently detailed information upon which to make a qualification determination. Please ensure that your resume contains specific information such as position titles, beginning and ending dates (mm/dd/yyyy - mm/dd/yyyy) of employment for each position, average number of hours worked per week, and if the position is/was in the Federal government, you should provide the position series and grade level
Should you submit multiple resumes, only the latest uploaded resume will be reviewed
A complete Occupational Questionnaire
In addition to the online application (resume and responses to the occupational questionnaire), you are required to submit the following forms, if applicable. It is the responsibility of the applicant to ensure all documents are legible
A copy of your SF-50, Notification of Personnel Action, which verifies highest grade held or full performance level of position, and eligibility for consideration as a status applicant ("1" or "2" in Tenure, block 24 and "1" in Position Occupied, block 34)
If you are using education as a substitution for experience (the announcement will state whether this is allowed), or if there is an educational requirement for this position, you must submit a copy of your transcripts (unofficial or official) that clearly describes your qualifying education
If you are claiming Veteran status, you must submit a copy of all required documents to support your claim (to include member 4 copy of your DD-214 showing character of service)--see VetGuide
To receive consideration for a special appointment authority (30%, severely disabled, Peace Corps, ICTAP, VRA), you must submit all required documentation supporting your claim for Special Appointing Authorities
Veterans who are still in the service may be granted tentative preference on the basis of information contained in their applications, but they must produce a DD-214 (showing the character of service) or other proof of service to receive consideration for veterans' preference. For more information on Veterans' Preference, please visit FedsHireVets.gov

CML Loan Specialist Resume Examples & Samples

Excellent ability to multi-task
Advanced analytical skills
Capacity to work independently

Loan Specialist Lead-documentation Resume Examples & Samples

Requires High School diploma or equivalent and 6+ years banking or loan process experience or other directly related experience
Knowledge of banking processes
Must have strong organizational and customer service skills
Ability to complete processes and meet deadlines
Ability to lead and mentor lower level employees and handle complex problems and issues

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COMMENTS

How to Write a Resume for a Business Loan
2. Write the objective of your resume, summarizing who you are and what you seek. To obtain a business loan, the objective isn't to land a job, it is to demonstrate to a lender that you are the ...
Loan Officer Resume Sample (with Job Description & Skills)
The most common skills for Loan Officers are being customer service-focused, bottom line loanmaster loan servicing, financial transactions expertise, credit analysis, and client relations. Resumes for Loan Officers are, on average, 2.5 pages long. Creating a resume with our builder is incredibly simple.
How to Properly Write a Business Loan Request
For example, your summary might look something like this: I'm writing to request a [loan amount] loan for my small business in the [industry name] industry, [business name]. With this loan, [business name] would [describe your intended business loan use]. As you can see, you don't need much detail here. You're just giving the reader a ...
Commercial Lending Resume Samples
The Guide To Resume Tailoring. Guide the recruiter to the conclusion that you are the best candidate for the commercial lending job. It's actually very simple. Tailor your resume by picking relevant responsibilities from the examples below and then add your accomplishments. This way, you can position yourself in the best way to get hired.
Loan Resume Samples
Expired Loan Agent Resume Examples & Samples. Drive customer communication on expired and pre-expired loans through various forms of communication and legal action where necessary. Managed the recovery process of outstanding balances on expired loans through 121 case management of loans on inbound and outbound calls.
Loan Officer Resume Examples and Template for 2024
These are some steps you can follow to write an effective loan officer resume: 1. Include your contact information. When creating your resume, it's important to include your contact information because the hiring manager may use it to reach out and schedule an interview. Include your full name, professional email address, phone number and location.
Commercial Lender Resume Samples
Comprehensive management of commercial loan portfolio, to include all aspects of growth and management of their book of business. Manages a portfolio of commercial customers, to include deposit relationships, renewal of credits, management of past dues, and troubled credits, etc. Manage loan and deposit portfolio as established.
Commercial Lending Resume Sample
Commercial Lending Management Analyst. 09/2014 - 12/2016. Los Angeles, CA. Use Microsoft Outlook, Excel, Word proficiently and acquire other computer skills as needed. Interact directly with borrowers, as appropriate, to gather the information required to make well-informed credit decisions and back-up the relationship mangers for credit ...
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5 Loan Officer Resume Examples to Make the Cut in 2024
Action words like "reviewed" or "analyzed" are a great way to make what you achieved sound more impactful. For instance, you could say you "analyzed credit profiles of loan applicants in Equifax Decision Power to boost approval quality, leading to a 54% decrease in net charge-off rates.". Create My Resume Now.
Small Business Loan Officer Resume Sample
Responsibilities included evaluating, recommending and presenting small business loans to the bank's credit committee for approval. Managed a portfolio of small business clients with financing needs from $100,000 to $1,000,000. Also developed new business prospects. Assisted in a credit task for to redesign analytical tools and monthly reports.
6 Great Loan Officer Resume Examples
Possess a strong aptitude for evaluating loan applications and providing efficient loan solutions. Committed to providing the highest level of customer service while ensuring compliance with all state and federal regulations." ... View All Business Operations Resumes. Creating a Resume increases your chances of getting a job by 100%. Build My ...
Commercial loan officer Resume Sample
04/2022 - present, Commercial loan officer, Wells Fargo, New York, United States. Developed and maintained relationships with local businesses, resulting in a 15% increase in loan portfolio within the first year of employment. Provided exceptional customer service by promptly addressing client inquiries and concerns, resulting in a 90% client ...
Loan Officer Resume Examples & Writing Tips (2024)
Take advantage of this resume example and writing guide to garner more interest in your experience and put you on the path to your dream job. 4.8. Average rating. 50 people've already rated it. Edit This Resume. A great loan officer resume is like a great loan application: It ticks all the boxes and makes a compelling case. When you begin ...
Commercial Loan Officer Resume Sample
Commercial Loan Officer. 03/2014 - 05/2016. New York, NY. Requests applicant credit reports, background checks, reference checks, and other information pertinent to loan applicant's evaluation. Analyzes applicant financial status, credit, and property evaluation to determine feasibility of granting loan. Corresponds with or interviews applicant ...
2024 Loan Officer Resume Example (+Guidance)
Loan Officer. 08/2022 - Present. Capital Lending Solutions. Generated $5M in new business through networking and referral sources, exceeding quarterly sales goals by 25%. Negotiated loan terms and conditions with borrowers, resulting in a 15% increase in loan approvals and a 10% decrease in delinquency rates. Analyzed financial data and ...
Loan Processor Resume Example & Writing Tips
Here are three tips for writing a perfect resume that showcases your loan processing experience and expertise: 1. Highlight your loan processor skills. A loan processor is a type of financial clerk who engages a borrower in the first step of a loan application and guides them through the best programs to apply for.
5 Loan Officer Resume Examples & Guide for 2024
5 Loan Officer Resume Examples & Guide for 2024. Your loan officer resume must clearly highlight your experience in the financial industry. It should showcase your proficiency in evaluating loan applications and understanding credit reports. Ensure you include your knowledge of compliance with financial regulations on your resume.
Loan Officer
Loan Officer - Resume Example & Template. Loan officers assess and approve commercial, real estate, and credit loans. They are experts at assessing a loan applicant's financial situation. Updating account records and analysing loan files are among the responsibilities. They work for commercial banks, mortgage businesses, and credit unions ...
How To Write A Professional Business Loan Application Letter
1. Include a header. When writing a business loan request letter, the first step is to add a header at the top of the document. Mention the company's contact details and include the address of the bank. Also include your name, residential address, business name and business address. Then, add the name of the lender or bank manager, the address ...
Commercial Loan Specialist Resume Samples
The Guide To Resume Tailoring. Guide the recruiter to the conclusion that you are the best candidate for the commercial loan specialist job. It's actually very simple. Tailor your resume by picking relevant responsibilities from the examples below and then add your accomplishments. This way, you can position yourself in the best way to get hired.
How I Secured $25,000 of Funding for My Startup
Apply for a loan: Once you choose a lender, submit your application and necessary paperwork. Additionally, you can google "SBA community-based lenders" in your area or check the SBA's list of ...
Financing Your Dream: How to Get a Loan to Start a Business
7(a) loans: This is the SBA's primary business loan program. 7(a) loans can be used for many things like working capital, acquiring or improving real estate, refinancing business debt, purchasing and installing equipment, and purchasing supplies and furniture. The maximum loan amount is $5 million.
How I Secured $25,000 of Funding for My Startup
Apply for a loan: Once you choose a lender, submit your application and necessary paperwork. Additionally, you can google "SBA community-based lenders" in your area or check the SBA's list of ...
SmallBusinessLoans.com Business Loans: 2024 Review
SmallBusinessLoans.com matches business owners to short-term financing and SBA loans through lending partners.
SBA Disaster Loans Available for Texas Small ...
Texas small businesses can apply for SBA disaster loans due to drought. Learn about eligibility, loan details, and application process. Small nonfarm businesses in seven Texas counties are now eligible to apply for low-interest federal disaster loans from the U.S. Small Business Administration (SBA).
The best free business checking accounts in June 2024
A free business checking account is an important step in your business for several reasons. Safety and security: A business bank account lets you send and receive money safely and securely. It ...
IRS enters next stage of Employee Retention Credit work; review
IR-2024-169, June 20, 2024 — Following a detailed review to protect taxpayers and small businesses, the Internal Revenue Service today announced plans to deny tens of thousands of improper high-risk Employee Retention Credit claims while starting a new round of processing lower-risk claims to help eligible taxpayers.
Judges temporarily halt part of President Biden's student debt
TOPEKA, Kan. — Federal judges in Kansas and Missouri on Monday together blocked much of a Biden administration student loan repayment plan that provides a faster path to cancellation and lower ...
Loan Specialist Resume Samples
Loan Specialist Resume Examples & Samples. Have the ability to Interpret complex loan documents. Be highly efficient in processing transactions in AFS, Vision, Stucky and other bank applications. Be able to effectively review and research requests and be able to process all maintenance transactions needed.

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Commercial loan officer Resume Sample

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Commercial Loan Officer Resume Sample

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