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What does a Loan Assistant do?

Photo of Brenna Goyette
Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

A loan assistant helps people with the process of applying for a loan. This can include helping to fill out paperwork, gathering required documents, and answering questions about the loan process. A loan assistant may work in a bank, credit union, or other financial institution.

Loan Assistant job duties include:

  • Processing loan applications and documentation
  • Verifying and reviewing loan documents for accuracy
  • Coordinating loan closings and disbursements
  • Maintaining updated records of loan status and payments
  • Communicating with borrowers, lenders, and underwriters as needed
  • Processing loan modifications and renewals
  • Performing annual or periodic loan audits
  • Monitoring changes in lending regulations
  • Assisting with the development of new loan products

Loan Assistant Job Requirements

There are a few job requirements for a Loan Assistant. Firstly, they need at least a high school diploma or equivalent. Secondly, some employers may require certification in areas like mortgage lending or loan processing. Finally, Loan Assistants typically need at least one year of experience working in the financial industry, preferably in a loan office or bank.

Loan Assistant Skills

  • Communication
  • Time management
  • Organization
  • Research
  • Writing
  • Math
  • Analytical skills
  • Detail oriented
  • Computer skills
  • Customer service
  • Interpersonal skills

Related: Top Loan Assistant Skills: Definition and Examples

How to become a Loan Assistant

A Loan Assistant is responsible for providing support to the loan department of a financial institution. They typically work in customer service, processing loan applications and disbursements, and maintaining loan records. To become a Loan Assistant, you will need at least a high school diploma or equivalent. Some college coursework in business or finance is also helpful. Many Loan Assistants have previous experience working in a bank or credit union. Strong customer service, communication, and organizational skills are essential for this position.

Related: Loan Assistant Resume Example

Related: Loan Assistant Interview Questions (With Example Answers)

Editorial staff

Photo of Brenna Goyette, Editor

Editor

Brenna Goyette

Expert Verified

Brenna is a certified professional resume writer, career expert, and the content manager of the ResumeCat team. She has a background in corporate recruiting and human resources and has been writing resumes for over 10 years. Brenna has experience in recruiting for tech, finance, and marketing roles and has a passion for helping people find their dream jobs. She creates expert resources to help job seekers write the best resumes and cover letters, land the job, and succeed in the workplace.

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