Loan Documentation Specialist

Make sure loan processing is done strictly according to policy.
picture of Loan Documentation Specialist

Quick Stats

Salary Range
$31,000 – $112,000

Data from U.S. Department of Labor

What do Loan Documentation Specialists do?

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.

Should I be a Loan Documentation Specialist?

You should have a bachelor's degree or higher and share these traits:
  • Detail Oriented: You pay close attention to all the little details.
  • High Achiever: You love the challenge of tackling difficult work.
  • Ready for a Challenge: You jump into new projects with initiative and drive.

  • Also known as: Farm Loan Representative, Loan Specialist

    How to Become a
    Loan Documentation Specialist

    Loan Documentation Specialists often have a Bachelor's degree. Chart?chd=s:vxx9aa&chl=no+college+%2826%25%29|certificate+%2827%25%29|associate%27s+%2813%25%29|bachelor%27s+%2834%25%29||&cht=p3&chs=466x180&chxr=0,26,34
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