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Key skills used by people in housing loans

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Key skills used by people in housing loans

  1. 1. Made by:Rishita(Intern)
  2. 2. 1) Approve loans within specified limits, and refer loan applicationsoutside those limits to management for approval.2) Meet with applicants to obtain information for loan applicationsand to answer questions about the process.3) Analyze applicants financial status, credit, and propertyevaluations to determine feasibility of granting loans.4) Explain to customers the different types of loans and credit optionsthat are available, as well as the terms of those services.5) Obtain and compile copies of loan applicants credit histories,corporate financial statements, and other financial information.6) Review and update credit and loan files.7) Review loan agreements to ensure that they are complete andaccurate according to policy.Job description of a loan officer
  3. 3. 8) Compute payment schedules.9) Stay abreast of new types of loans and other financial services andproducts in order to better meet customers needs.10) Submit applications to credit analysts for verification andrecommendation.11) Handle customer complaints and take appropriate action to resolvethem.12) Work with clients to identify their financial goals and to find ways ofreaching those goals.13) Confer with underwriters to aid in resolving mortgage applicationproblems.14) Negotiate payment arrangements with customers who have delinquentloans.15) Market bank products to individuals and firms, promoting bank servicesthat may meet customers needs.
  4. 4. 16) Supervise loan personnel.17) Set credit policies, credit lines, procedures and standards inconjunction with senior managers.18) Provide special services such as investment banking for clientswith more specialized needs.19) Analyze potential loan markets and develop referral networks inorder to locate prospects for loans.20) Prepare reports to send to customers whose accounts aredelinquent, and forward irreconcilable accounts for collector action.21) Arrange for maintenance and liquidation of delinquentproperties.22) Interview, hire, and train new employees.23) Petition courts to transfer titles and deeds of collateral to banks
  5. 5. Network with colleaguesChat with existing clientsInteract with SupervisorsAttend meetings with co-workersInteract with loan and creditapplicantsCommunication skills exhibited by loan offier invarious fields
  6. 6. Skills Needed for: "Loan Officer"• Active Listening• Time Management• Reading Comprehension• Persuasion• Speaking .• Social Perceptiveness• Coordination• Service Orientation• Complex Problem Solving• Active Learning• Judgment and Decision Making• Monitoring• Learning Strategies• Critical Thinking• Negotiation• Instructing• Writing
  7. 7. Loan officer jobs requires the ability to communicate withborrowers from different ethnicities, nationalities, cultures,religious background, socio-economic status and education levels.So people skills are a must. Customers will usually choose to dobusiness with people they like and trust, and people skills are avital component of this. Loan officer jobs require a dedication tohonest, ethical behaviour, a desire to provide the best possiblecustomer service and the commitment to provide a loan that bestfits a customer’s needs and desires.Most important skill needed for home loans: People ‘s Skill
  8. 8. 1) Making Decisions and Solving Problems .2) Processing Information3) Analyzing Data or Information4) Performing for or Working Directly with the Public5) Getting Information6) Establishing and Maintaining Interpersonal Relationships7) Communicating with Persons Outside Organization8) Judging the Qualities of Things, Services, or People9) Communicating with Supervisors, Peers, or Subordinates10) Interacting With ComputersJob Activities for: "Loan Officer”“
  9. 9. 11) Documenting/Recording Information.12) Evaluating Information to Determine Compliance withStandards.13) Organizing, Planning, and Prioritizing Work.14) Selling or Influencing Others.15) Performing Administrative Activities.16) Interpreting the Meaning of Information for Others-17) Updating and Using Relevant Knowledge.18) Monitor Processes, Materials, or Surroundings.19) Identifying Objects, Actions, and Events.20) Building good client relationships
  10. 10. 1) Oral Comprehension2) Oral Expression3) Speech Clarity4) Written Comprehension5) Inductive Reasoning6) Problem Sensitivity7) Speech Recognition8) Near Vision9) Deductive Reasoning10) Written Expression11) Information Ordering12) Mathematical ReasoningAbilities Needed for: "Loan Officer”
  11. 11. 1) Sales and Marketing2) Customer and Personal Service .3) Economics and Accounting4) English Language5) Mathematics .Knowledge, Experience, Education Required for: "Loan Officer”
  12. 12. Write comments on forms and remindersin daybooks.Write e-mail to co-workersWrite letters to clients.Write risk management summaries whichjustify their decisions.May write proposals for large loans tohome buyers and commercial borrowers.May write frequently asked questions forclients.Essentials on part of loan officers
  13. 13. How to make bond and relationship with your customer?•Interact directly with customers.•Vary the type of communications you send your customers,•Strive to genuinely improve your customers lives.•Hire people who genuinely care about your company and customers.•Solicit customer input when making changes to your product or services.•Use social media to stay on customers radar.
  14. 14. •Respond to requests by emphasizing what you can do to help meet them.•Follow through and do what you say you’ll do.•Listen without passing judgment and don’t rush in to give advice.•When you have concerns, work them out with the source, not with others.•Communicate with respect in every interaction regardless of whether youlike the person.•When others give you assistance or support, express appreciation for it.•Focus on issues, not personalities, when you discuss work matters andproblems.•When differences in views or ideas occur, work first to understand themfrom the other person’s perspective.
  15. 15. •Be direct and sincere as normal practices.•Use humour in good taste.•Appreciate the business that your customers give you.•Put the cherry on the top: Go the extra mile.•Anticipate Needs•Truth in Advertising•Regularly assess whether customer expectations are being consistentlyme.•When differences in views or ideas occur, work first to understandthem from the other person’s perspective.
  16. 16. •Collect feedback from customers and staff to ensure that solutionsare being provided that result in customer satisfaction.•Start Small and Emphasize Human Touch.•To meet and exceed the expectations of your customers, you needto be familiar with your customer service framework.•Don’t just build your customer list - segment it.