Writing a loan clerk job description starts with a solid understanding of what loan clerks do all day. Loan clerks work with banks to assist with borrower paperwork for a bank loan. They prepare appraisal documents and work with clients to review the accuracy of loan application information.
The typical loan clerk has a high school diploma or its equivalency. You may also prefer to have a candidate with some educational background in business or finance or an associate degree. Training for the job is usually provided to the right person upon employment.
Other important qualities to look for in an ideal candidate are strong organizational skills and top math skills. Loan clerks should also be able to deliver excellent customer service to potential bank customers and speak clearly and effectively. Check out some more tips with the loan clerk job description template below.
Loan Clerk Job Summary
Are you ready to start your career in financial services and the banking industry? If so, you can take advantage of the excellent opportunities we have for potential loan clerk candidates. If you have a passion for numbers and calculations and above average organizational skills, we are looking for you. You will assist our customers in getting approved for car and mortgage loans by reviewing and verifying the details on their applications, and you will interview loan applicants about their plans for the funds received. If you want to make first-time homebuyers or car purchasers get closer to their dream, this is the right position for you!
- Review loan application materials and closing documents for potential borrowers and check the accuracy of the information
- Ask questions to loan applicants about their financial history and personal information to get a more accurate picture of borrowers’ suitability
- Gather all appropriate paperwork and materials for loan application closing, such as tax forms, title documents, insurance information and loan terms
- Enter information about the loan details, the terms, the information from the application and the funds received into a computerized database
- Verify the details of the customer’s collateral when required in the loan application by interviewing the customer and researching information
- Crosscheck customer financial and personal data by conducting credit checks and background checks and contacting employer and personal references
- Compose loan application letters, closing documents, forms, bank letters, requests for more information and other types of correspondence by using word processing software
- Inform customers about loan terms and the repayment procedures upon loan approval and answer any questions about the process
Job Skills & Qualifications
- Completion of high school or an equivalency certificate
- Experience with Microsoft Office suite
- Ability to calculate financial formulas for interest and payment schedules
- Some college coursework in accounting, finance or business
- Experience working in a loan processing department of a bank
After getting your loan clerk job description to sound just right, the next task to tackle is getting it out to the best potential candidates. People interested in working as loan clerks may not know about your opening if it isn’t broadcast through the right channels.
Individuals who are looking for loan clerk jobs will most likely seek employment through people they know or on online job boards. Instead of relying on your company’s website or social media account to get the word out, you’ll need to be more strategic. It’s best to try out a tool such as MightyRecruiter to get as many people as possible to notice your job posting. This way, you’ll send the news out to many different places where free job postings are published.
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