Loan Consultant Job Description

Loan Consultant Job Description

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Loan consultant provides information to customers (internal and external) on a wide variety of complex mortgage loan servicing topics, to include: loan payments, quoting payoffs, payment research, property taxes, insurance and other mortgage loan programs and products.

Loan Consultant Duties & Responsibilities

To write an effective loan consultant job description, begin by listing detailed duties, responsibilities and expectations. We have included loan consultant job description templates that you can modify and use.

Sample responsibilities for this position include:

Demonstrates knowledge of and adherence to EEO policy
National and State mortgage licenses preferred
Direct the investment sales for an assigned group of banking office Personal Bankers through training, goal setting, marketing plans and daily support
Develop and maintain profitable broker relationships with individual clients to meet investment objectives
Sell company executives/HR representatives on benefits and responsibilities of providing retirement education opportunities for their employees and conduct energetic, enthusiastic and results-oriented seminars for groups of employees with the primary goal to get them to set an appointment with an Investment Representative for a retirement planning session
Ensure adherence to all regulations, policies, and record keeping requirements, and maintain current knowledge of market conditions
Taking 40-70 inbound calls per day with the ability to engage and initiate the sales cycle with a customer who has applied for an auto loan
Successfully communicate & collaborate with fellow Loan Consultants and Sr
Collectively meet or exceed sales goals set by senior management
Assist Senior Loan Consultants with customers who need additional items that prevent the sales cycle from moving forward

Loan Consultant Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Loan Consultant

List any licenses or certifications required by the position: IPMA, SHRM

Education for Loan Consultant

Typically a job would require a certain level of education.

Employers hiring for the loan consultant job most commonly would prefer for their future employee to have a relevant degree such as High School and Collage Degree in General Education, Finance, Accounting, Education, Economics, Business, Graduate, Marketing, Associates, Financial Services

Skills for Loan Consultant

Desired skills for loan consultant include:

Local market and regulations
Mortgage programs and products
FNMA/FHLMC and FHA/VA/USDA guidelines
FNMA and FHLMC guidelines
Conventional and government loan products and guidelines
Loan programs and products
Banking and finance terms
Mortgage laws and regulations
Residential property types
Adherence to EEO policy

Desired experience for loan consultant includes:

Complies with the Secure and Fair Enforcement for Mortgage Licensing Act (S.A.F.E
Capacity to understand lending partner programs and work with underwriting when required
Bachelor's degree preferred minimum required High School degree equivalent
Ensures that the overall objectives are met
Required to pass training class and obtain national and state licenses as applicable
This position requires that the appropriate licensing has been acquired

Loan Consultant Examples

1

Loan Consultant Job Description

Job Description Example
Our growing company is looking for a loan consultant. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for loan consultant
  • In a team structure, will contribute to team production to achieve set volume and/or profit threshold for the branch
  • Manages overflow production from highest producing team members
  • Inputs all borrower information into the 1003 (LOS) and provides data entry as needed
  • Sources new mortgage loan opportunities within existing and potential customer base with guidance and in effort to build customer base
  • Spend a minimum of 50% of working hours outside the office to conduct sales calls to create, develop and maintain referral relationships with real estate professionals, builders, and consumers
  • Support consulting team
  • Configure and Implement DNA Core Processing Functionality
  • Document client and internal discussions and decisions
  • Execute specific duties and groups of work as assigned
  • Manage/resolve a fixed percentage of Service cases, prepare and escalate others to higher levels within the team
Qualifications for loan consultant
  • Graduation from a 4-year college or university with major coursework in a related discipline
  • 2+ years of sales experience to small business (B2B is a plus), taking clients through the application to close process
  • Have a mindset to solve real business issues and not just pitch a product
  • Looking to grow and advance in your career and the industry
  • Committed, problem-solvers who are interested in a career that helps consumers better their personal financial outlook
  • Driven, energetic professionals who have a positive outlook and desire to help others achieve their financial goals
2

Loan Consultant Job Description

Job Description Example
Our company is growing rapidly and is hiring for a loan consultant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for loan consultant
  • Develop and deliver new hire and continued education training programs to consumer lenders, commercial lenders, loan assistants, operations/documentation, and other loan-support workgroups
  • Serve as a coach and mentor to employees for career and professional development
  • Required to maintain a current Residential Mortgage Loan Originator state license
  • Employee will abide by goals set by company in regards to Capture and Customer Satisfaction
  • Employee must assure accuracy in all areas of compliance
  • Responsible to review HUD-1 Closing Statement
  • Company will monitor goals set forth no less than quarterly and employee agrees to abide by these goals
  • You are willing to perform other duties as assigned
  • This position is considered a non-exempt position for purposes of wage-hour law, which means that you will be required to keep a time record and will be eligible for overtime pay
  • Ability to receive engaged customers and complete the sales cycle with a customer who is in the final stage of the selling process
Qualifications for loan consultant
  • Effectively communicate both verbally and in writing, to individuals at all levels of the organization, who have varying skill sets and technical abilities
  • Experience in process improvement and/or project management
  • Working knowledge of Microsoft Access, Visio and other desktop and web report generation applications
  • 1+ years of successful sales or customer service experience, mortgage experience preferred
  • Licensing (State or National) Required at Hire, or must be able to obtain required licensing
  • Proven success with working independently in a fast-paced environment exhibiting strong interpersonal, oral and written communication skills
3

Loan Consultant Job Description

Job Description Example
Our company is hiring for a loan consultant. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for loan consultant
  • Successfully communicate & collaborate with fellow Loan Consultants assigned to your team who assist in loan origination
  • Ensure each customer receives the treatment and an experience that exudes Clearlane's core values
  • Assist in coaching Loan Consultants within your immediate team and be a part of their development process
  • Executes against published Pulte process model with regard to communication standards, cycle times, partnering with Pulte Homes and other departments
  • Take incoming and outgoing phone calls while ensuring regulatory compliance and maintain a high standard of influence and persuasion to get a client through to the closing process
  • Use a variety of outreach methods to communicate with clients such as phone (inbound and outbound calls), emails, text and chat
  • Assist with addressing operational questions and concerns
  • Proactively reach out to clients and client prospects who are looking to obtain a personal loan and guide them through the loan review process
  • Spends a minimum of 50% of working hours outside the office to conduct sales calls to create, develop and maintain referral relationships with real estate professionals, builders, and consumers
  • Analyzes potential marketing opportunities to develop future business opportunities
Qualifications for loan consultant
  • The ability to travel a up to 50% of the time, this may include weekend and holidays
  • Highly motivated to execute on deliverables on time
  • Subject Matter Expertise in
  • Bachelors Degree in Computer Science or related technical field experience OR a High School diploma and at least 5 years of professional work experience
  • Experience with fixed income analysis and portfolio management
  • Strong computer skills preferred, including Microsoft Office suite
4

Loan Consultant Job Description

Job Description Example
Our company is growing rapidly and is looking for a loan consultant. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for loan consultant
  • Engages in managing the loan pipeline with all team members to meet company efficiency standards
  • Meets with borrowers to determine best loan program for individual needs after analyzing income, assets, credit, and property
  • Collects all required documentation from borrowers and converts to paperless documents
  • Prepares and submits loan submission sheets to set up
  • Reads and understands rate sheets, product codes, and loan level price adjustments in order to calculate rates and fees
  • Negotiates and confirms rates, fees, and locks terms with customers
  • Locks loans in the system with agreed upon terms and manages locked pipelines through the funding
  • Communicates regularly with borrowers to meet desired expectations
  • Maintains minimum productivity goals
  • Complies with organizational standards, polices, and procedures
Qualifications for loan consultant
  • Minimum required High School degree equivalent
  • Able to work in fast-paced sales environment
  • Must secure and maintain national and state licensing up to 8 states
  • Solution-focused, detail-oriented approach
  • Performs the position safely, without endangering the health or safety of themselves or others and will be expected to report potentially unsafe conditions
  • Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position
5

Loan Consultant Job Description

Job Description Example
Our growing company is looking to fill the role of loan consultant. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for loan consultant
  • Conduct pre-qualification of all applicants based on the established credit criteria
  • Originate loans based on company policies, procedures, and HUD / FNMA / FHLMC / VA guidelines while meeting both qualitative and quantitative metrics
  • Increase the Mortgage Capture success rate at throughout the respective builder divisions
  • Use Finance as a sales tool to highlight value and utilize builder incentives to tailor contributions in the best interest of the customer
  • Assist customers in the education and selection of loan products and work with them to secure loan approval
  • Provide exceptional customer service to all borrowers by building rapport, maintaining extensive product knowledge and providing regular updates throughout the loan approval and home buying journey
  • Work with Processing and Underwriting teams on loan restructures and approval solutions
  • Negotiate and secure rate lock and initiate any price exception requests with management as needed
  • Prepare and distribute all Federal and State initial disclosures for all product selected
  • Maintain strong business relationships with division employees throughout the organization
Qualifications for loan consultant
  • Demonstrates a commitment to the Company Culture
  • Meet established productivity and task management standards or seeks assistance
  • One (1) + years of experience in the financial services industry
  • Strong customer service and team ethics with a genuine interest in vehicle, business and asset finance
  • Credit or sales experience is an advantage
  • Analytical ability to confidently interpret historical and projected financial statements

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