How to become a credit loan officer
What does a credit loan officer do?Credit and Loan Officers can either help people get the credit that they need or tell them that they are too high of a risk to extend them credit. They must analyse credit reports and credit scores after receiving credit and loan applications from potential borrowers. It is essential that they can separate themselves from the potential borrower in order to make a prudent decision for the lender.
Duties and tasks
- Analyse customer information, credit reports and credit scores.
- Answer customers questions about credit, loans or status of their accounts.
- Approve or decline credit and loan applications.
- Check customers employment records and income data.
- Contact financial institutions regarding customers accounts.
- Make inquiries to customers references.
- Prepare financial documents for repossessions or foreclosure.
- Record payments and prepare loan and credit documents.
- Report customers credit standings to upstanding reporting agencies.
- Send letters for delinquent loans.
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