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Loan Processor

346

Statewide
Job Postings
164th

Out of 439
Jobs In-Demand
3,350

Currently Employed
in Indiana
$12.37 - $19.39

Avg. Hourly Wage
Indiana
$14.66 - $22.46

Avg. Hourly Wage
USA
map Region 1 Region 2 Region 3 Region 4 Region 5 Region 12 Region 6 Region 7 Region 8 Region 9 Region 10 Region 11

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Loan Processor - Indiana Regions Overview:

The graph above shows that there were 346 job postings for the occupation of Loan Processor in Indiana during 2013 and 2014. The vertical bar chart shows which regions had the most demand for Loan Processor. These numbers represent current demand as advertised in online job postings and do not necessarily indicate projected job growth in the future. Nevertheless, these numbers are a valid barometer for gauging recent job demand statewide and regionally in Indiana.

What Loan Processor Do:

Interview loan applicants to elicit information investigate applicants' backgrounds and verify references prepare loan request papers and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.

Common Job Activities:

  • Verify and examine information and accuracy of loan application and closing documents.
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.
  • Submit loan applications with recommendation for underwriting approval.
  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Answer questions and advise customers regarding loans and transactions.
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Present loan and repayment schedules to customers.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Check value of customer collateral to be held as loan security.
  • Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
  • File and maintain loan records.
  • Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
  • Schedule and conduct closings of mortgage transactions.
  • Accept payment on accounts.
  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
  • Establish credit limits and grant extensions of credit on overdue accounts.

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