Loan Officer Assistant Job Description
Loan officer assistants are responsible for performing administrative tasks and reviewing loan paperwork. Learn more about this role in our detailed guide.
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What is a Loan Officer Assistant?
A Loan Officer Assistant plays a vital role in the administrative upkeep of a loan office. As such, the duties of a Loan Officer Assistant cover the entire loan origination process, including managing paperwork and interacting with everyone involved to keep the process moving efficiently. They are also responsible for checking important loan details and requirements before submitting all documentation to the lender.
These professionals typically report to the organization’s loan officer or loan originator and must adhere to the federal and state tests and licensing requirements. They are also in charge of reviewing loan applications and completing administrative tasks for their organization.
Education Requirements
- GED
- Previous experience in the mortgage or loan industry is a plus
- State and federal tests for licensing
Loan Officer Assistant Essential Skills
- Analytical skills
- Computation skills
- Leadership abilities
- Written and oral communication skills
- Organization and prioritization
- Superb attention to detail
- Multitasking skills
- Problem solving
Loan Officer Assistant Roles & Responsibilities
- Serve as an ongoing point of contact for clients, helping them collect required information and complete any necessary documents throughout the loan process
- Assist and coordinate internal parties involved in the loan application process, including mortgage loan officers, underwriters, and realtors
- Gather information for new loan underwriting, including credit reports, tax filings, business entity searches, and title work
- Ensure loan documentation complies with federal and state requirements
Day-to-Day Duties
- Accept and review loan applications
- Answer clients’ questions
- File necessary paperwork
- Make initial contact and follow up with potential clients
- Manage closing paperwork and ensure proper filing
- Review delinquent accounts and attempt to collect debts
- Perform general office administration duties