Help clients with all their banking needs.
Employed by a bank or other financial institution, a Loan Documentation Specialist is the person who prepares and approves client applications for loans, leases, or credit.
As a Loan Documentation Specialist, you play an important role in the loan process. You are the one who makes sure everything is done by the book—you dot the i’s and cross the t’s, so to speak. When you’re a Loan Documentation Specialist, you process the loans with the bank’s policies, investor guidelines, and lending strategies in mind.
You may specialize in home, business, student, or car loans. Like other Loan Officers in your workplace, you meet with clients and assess their needs, collect data, verify documents, and complete applications. In addition, you obtain credit information, coordinate closings, calculate closing costs, and disperse funds. You may also be required to meet specific sales goals. With all of these responsibilities, an ability to multitask definitely comes in handy.
This is an entry-level job, and it requires knowledge about lending principles. As you deal with loan applicants every day, you need to have excellent communication and customer relation skills. You should also be detail-oriented and organized since your job concerns the nitty-gritty of the loan process. And on top of all that, you should have a certain amount of sensitivity. You’ll need it in case you have to deliver the news that a client’s application has been denied.