They examine the monetary documents of loan candidates thereby applying underwriting principles and formulas to find out their capability to settle that loan. Loan officers may glance at candidates’ income, work security, debt-to-income ratio, and liquid assets to guage the possibility of lending for them.
A big element of a loan officer’s task is product sales and customer support. Some forms of loan officers, like mortgage originators, must find their particular customers, and loan officers who work with banking institutions and credit unions are anticipated to build business that is new their boss. After they have a customer to work alongside, loan officers must communicate together with them to figure out their demands and respond to any questions they could have.