Loan Processor Jobs in Elgin, IL
A Loan Processor in the banking industry serves as an intermediary between the potential borrower and the lending institution. They are responsible for reviewing loan applications, conducting credit research, coordinating with underwriters, and ensuring that the loans are processed in a timely manner. They assess the ability of the applicant to repay the loan, verify the information provided, and prepare documents for closing. The Loan Processor plays a key role in ensuring the smooth running of the loan approval process, that conforms with bank regulations and guidelines.
Important skills for a Loan Processor include excellent communication, attention to detail, quality customer service, and problem-solving abilities. They should be proficient in using loan processing software and have a strong understanding of banking and financial principles. Some of the certifications that could be beneficial are Certified Mortgage Loan Processor (NAMP-CMLP) and FHA Direct Endorsement (DE) Underwriting certification. Prior to becoming a Loan Processor, an individual might have roles such as Loan Officer Assistant, Credit Analyst, or Customer Service Representative in a banking or financial institution.
Commercial Loan Documentation Specialist- Hybrid/Remote
- Elk Grove Village, IL (12 miles from Elgin, IL)
- 1 day ago
- Elk Grove Village, IL (12 miles from Elgin, IL)
- 1 day ago
First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and...
Commercial Loan Documentation Specialist Part-Time Temp to Hire
- Burr Ridge, IL (24 miles from Elgin, IL)
- 30+ days ago
- Burr Ridge, IL (24 miles from Elgin, IL)
- 30+ days ago
Summary: Works with Commercial Bankers to prepare loan documents for any new, modification or renewal of our commercial loans with minimal supervision to close the transaction and complete the...
- Crystal Lake, IL (18 miles from Elgin, IL)
- 60+ days ago
- Crystal Lake, IL (18 miles from Elgin, IL)
- 60+ days ago
Processor is responsible for providing support to the lending staff through multiple functions associated with pre-closing and post-closing due diligence activities....
Demographic Data for Elgin, IL
Moving to Elgin, IL? Find some basic demographic data about Elgin, IL below.
Loan Processor Online Courses and Training Opportunities
Salary for Loan Processor Jobs in Elgin, IL
Highest Education Level
Loan Processors in Elgin, IL offer the following education backgroundQualifications / Skill Sets
The following top skills are often required or desired to land a Loan Processor position
- Mortgage Lending
- Loan Origination
- Consumer Lending
- Lending
- Federal Housing Administration
- Nationwide Mortgage Licensing System & Registry
- Loan Documentation
- Jumbo Loans
- Loan Review
- Tila Respa Integrated Disclosures
- VA Loans
- Commercial Lending
- BSA
- Federal National Morgage Association
- FHLMC
- Loan Processing
- Freddie Mac
- Fannie Mae
- Encompass
- OFAC
- Mortgage Processing
- Financial Services
- Loan Servicing
- USDA
- Underwriting
- Reconciliations
- Appraisal
- Payment Processing
- Due Diligence
- General Ledger
- File Management
- Real Estate
- Closing
- Finance
- High School Diploma
- Accounting
- Written Communication
- Documentation
- Verbal Communication
- Reporting
- Data Entry
- Filing
- Policy Development
- Regulations
- Multitasking
- Problem Solving
- Microsoft Excel
- Microsoft Office
- Sales
- Time Management
- Research Skills
- Staff Supervision
- Organization
- Customer Service
- Scheduling
- Computer Skills
- Leadership
- Communication Skills
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