Loan Officer Resume Sample and Job Description

A loan officer is an intermediary between the financial institution, usually a bank, but not necessarily, and the client requiring capital. Their duties start with prospecting the market for new potential clients, informing them about the conditions and requirements and finally assessing the applications of those who choose to ask for the money.

This is a highly regulated job, with strict requirements and is best fit for candidates with a good expertise in finance, a solid understanding of legal work and an educational background in economics or finance. Constant learning and an open attitude are also necessary to remain up to date with the latest changes. A good candidate is also a top communicator, as this job implies to be in direct contact with the client and possess a problem solving attitude and critical thinking.

When applying and interviewing for a loan officer job, it is advisable that you show your ability to sell to clients who fit the criteria and that you have the necessary certificates, as required by the state law.

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Tips for Loan Officers Resumes

Analytical mindset

A loan officer is responsible for analyzing the reasons behind the loan request, the validity of the amount requested and the financial solvency of the applicant to make sure the application does not transform in payment default. This job calls for good knowledge of the market, excellent knowledge and use of the software risk assessment tools and being able to match the situation of the customer with products in the institution’s portfolio.

Computer savvy

As most of the applications are now filed using online platforms, the loan officer needs to feel comfortable using a computer to give information to clients, show them a reimbursement graphic, let the compare different options and finally submit their details to the system. Since there is a lot of mathematics involved in computing the rate, the interest and before that the eligibility criteria it is normal to ask candidates for proof of their IT skills in the resume. List the programs you can use and try to include special software, if any.

Client communication and negotiation

This is a financial intermediation role, therefore most of the earnings come from selling commissions. The right candidate will be able to use persuasive and clear communication to convince potential clients to close the deal. You need to explain both the advantages and costs of the products as well as the result of the evaluation procedure. The best loan officers make it clear for the client that a rejection is also in the client’s best interest to avoid financial burden.

Loan Officers Resume Samples

The following resume samples and templates for loan officer can help you get a better idea of what your resume can look like.

A loan officer is advised to adjust their resume to the specific job description and make sure they highlight their strong points.

Additional Loan Officers Resume Tips

• Selling Quotas– The loan officer has to achieve predefined selling targets or value quotas. Let your previous experience and achievements recommend you and include in the resume the total amounts of loans granted in a given time period or divide this amount per industries. Give simple reassurances that you are able to be a valuable member of the loans team.
• Legal training – As any loan is accompanied by a set of legal documents such as agreements, statements and contracts, it helps if you are skilled in understanding and explaining the content of such document in plain English to clients. Any certifications in this area can be a plus.

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