Loan Processor Resume | Tips and Examples

Loan Processor Resume Examples

In this easy-to-follow guide, we will be providing you with the best resume writing tips and demonstrate with resume examples the effective ways to draft an eye-catching loan processor resume.

In this section, we will be demonstrating two resume samples, a mortgage loan processor resume sample and loan officer resume sample. These loan processor resume examples contain all the essential sections and have the right structure and format which is suitable for a processor resume. You can also go through our vast list of resume templates to get a comprehensive knowledge of the resume writing process.

Loan Officer Resume

Tips to Write an Effective Loan Processor Resume

Your loan processor resume gives you the golden opportunity to make a positive and lasting first impression on a hiring manager. It is paramount to write an effective and impactful loan processor resume to showcase your loan processor skills and highlight your unique expertise in loan processing and management. Let's take a look at some of the tips that will help you build your professional loan processor resume.

• Choose the right resume format for your resume
• Pay attention to the structure of your resume
• Include a powerful professional summary in your loan processor resume
• Highlight your relevant work experience
• Mention your detail oriented loan processing skills
• Detail your educational background
• Add any relevant certifications
• Customise your resume as per the job description in the job listing

Choose an Appropriate Format for a Loan Processor Resume

The format of your loan processor resume will determine the exact order in which your skills, qualifications and work experience will be presented. It is one of the most crucial steps that needs to be taken before you dive into the resume making process. Let's explore the three formats that are widely known and accepted by job seekers and hiring managers alike.

Chronological

In chronological style of format, the work experience section is the main focal point of your loan processor resume. With this format, your employment history will be listed in a reverse chronological order which will place your latest job at the very top of the work experience section. The chronological format is ideal for candidates with considerable work experience. The following is the order in which the resume sections are structured in a chronological resume format.

• Header
• Resume summary
• Work experience
• Skills
• Education
• Certifications
• Additional sections (Optional)-Professional memberships and affiliations, achievements, languages

Functional

In a functional resume style, the resume is designed to be skill based rather than based on your professional background. The skills section of your loan processor resume takes precedence over the other sections. This format is ideal for candidates with a non traditional work background, gaps in their employment history. The following is the order in which the resume sections are structured in a functional resume format.

• Header (Contact information)
• Resume summary
• Skills summary
• Achievements
• Work experience
• Education
• Additional sections (Optional) - Professional memberships and affiliations, achievements languages

Hybrid

The hybrid resume format is the product of mixing the key elements of the chronological and the functional resume format. In this resume style, you can equally highlight your skills as well as your work experience. This is ideal for candidates who are fairly new to the job market with limited work experience and are still building on honing their professional skills. The following is the order in which the resume sections are structured in a hybrid/combination resume format.

• Header (Contact information)
• Resume summary
• Skills summary
• Work experience
• Education
• Additional sections (Optional)- Professional memberships and affiliations, achievements languages

The Structure of a Loan Processor Resume

A well structured loan processor resume is the gateway to landing the loan processor job of your choice. Once you have decided on the format, your skeleton structure of the resume will contain a list of essential sections that need to be included in your resume. These sections effectively highlight your skills, qualifications and work experience and give you a chance to prove that you are a suitable candidate for the loan processor position. Let's explore these sections in more detail.

Header

Your processor resume should begin with a header which contains all your pertinent contact information. The following details need to be mentioned in the header section of your resume.

• Full name
• Job Title
• Phone number
• Email address
• LinkedIn Profile (If applicable)

Make sure that you double check all the details and ensure that you have made no errors in providing your contact information.

Incorrect Header Example

Steve Richards

steverichards@example.com

Correct Header Example

Steve Richards

Mortgage Loan Processor

(000)-111-3333

steverichards@example.com linkedin.com/in/steve-richards

Professional Summary

An impactful loan processor resume summary is essential to get the attention of hiring managers and recruiters. A professional summary is like an elevator pitch you are making via your resume to be considered for the loan processor role. It needs to be a concise and punchy statement consisting of not more than three to five sentences. Here are some pointers to write an effective professional summary for your processor resume.

• Begin with an adjective like dedicated, hard working, detail-oriented with the number of years of experience working as a loan processor.
• Mention your skills and quantifiable achievements.
• Mention your strong work background and add in any notifiable achievements

Incorrect Professional Summary Example

Seeking a challenging role as a mortgage loan processor. Eager to apply my strong work ethic to contribute to a lending institution's success.

Correct Professional Summary Example

Detail-oriented loan processor with 5+ years of experience in processing mortgage loans. Adept in assessing borrowers qualification, conducting thorough credit analysis and ensuring compliance with industry regulations. Skilled in managing a high volume of loan applications while providing exceptional customer service.

Work experience

• During the recruitment process, the work experience section is the main priority for a potential employer. It helps recruiters gauge your suitability for the processor role and assess if you have the required professional experience for the job. Here are some tips on how to effectively showcase your work history to potential employers on your resume.
• Start the section by mentioning your job title, company name, and employment dates with the start and end dates included.
• Start by listing your most recently held position and job. List the rest of your work experience below in a reverse chronological order.
• Use bullet points to elaborate on your roles and responsibilities for each job.
• Start each bullet point with an action verb like managed, coordinated, collaborated etc.
• If you would like to showcase your professional achievements, ensure that you supplement that with specific metrics and tangible examples.

Incorrect Work Experience Example

Mortgage Loan Processor

ABC Company

• verified borrowers financial data and loan file
• worked with underwriters
• offered loan packages
• checked loan documents

Correct Work Experience Example

Mortgage Loan Processor

ABC Company, Dallas, Texas

March 2018 - September 2022

• Managed a high volume pipeline of mortgage loan applications with an average of 20-30 loan applications per day.
• Conducted thorough credit analysis, loan document verification and asset evaluation resulting in a 90% loan approval rate.
• Established strong working relationships with appraisers and title companies to ensure smooth and hassle-free loan closings.

Skills

In the skills section of your processor resume, put an emphasis on both your technical and soft skills. Add skills that are relevant and specific to the loan processor role. Here is a list of some of the skills that you can mention on your loan processor resume.

• Proficient in underwriting guidelines
• Credit reports
• Customer service
• Attention to detail
• Time management
• Strong communication skills
• Multi-tasking
• Problem solving

Education

The minimum educational requirement for a loan processor is a high school diploma. Candidates with a higher degree of education tend to get more preference so if you have a bachelor's degree in any finance related field you should mention the same. Your education section should include the following details.

• Degrees earned
• Name of the institution
• Graduation Date
• Relevant Coursework (Optional)

Incorrect Education Section Example

Bachelor of Commerce

University of California

Correct Education Section Example

Bachelor of Commerce in Accounting

University of California, Berkeley, California

Graduation Date: May, 2022

Certifications

If you have relevant certification as a loan processor, then we highly recommend mentioning that in a separate section. Here are some of the certifications you can earn to further your career as a loan processor.

• General Mortgage Associate
• Certified Residential Mortgage Specialist
• Certified Veteran Lending Specialist
• Executive Certified Mortgage Banker

Proofread and Edit

Besides a well-structured and formatted resume, it is important to have an error-free loan processor resume. Before sending out your job application, follow these proofreading and editing tips to ensure that your resume is flawless.

• Scan your resume for grammatical and spelling errors. Even a single mistake can cost you a job so take your time with this process.
• Ensure consistent formatting throughout your resume like the same font size and style across sections.
• Use clear and concise language and avoid using long and complicated sentences.
• Aim for a resume length of one to two pages. Anything above that is too long and chances are that the employer doesn't take the time to go through such a lengthy resume.

Tips to Optimise Your Loan Processor Resume

The main purpose of your processor resume is to get you a job and for that we have a few tips for you to enhance your resume and ensure that it gets the attention of potential employers and recruiters.

• Customise your resume for every job application-

  Align your resume's skills and experience sections with the job description and requirements mentioned by the employer in the job listing.

• Use relevant keywords-

  Incorporate the exact industry specific keywords that have been mentioned by the employer in the job listing and include that in your skills and experience section. This practice will help you bypass the resume filtering process of the applicant tracking systems that are used by most hiring companies.

• Clean and professional layout-

  Ensure that there is consistent and simple formatting throughout your resume. Use professional and legible fonts, bullet points and clear section headings. Avoid use of tables, graphics, columns as this can make it look cluttered and get rejected by ATS softwares.

• Include relevant details-

  All the details provided on your resume should serve a purpose and be relevant to the job that you are applying for. Avoid cluttering your resume with filler details.

• A concise resume length-

  Keep your resume short and to the point. If you are an entry level candidate then your resume should only be one page long. If you are an experienced candidate with a lot of experience then you can extend it to two pages. Remember, that ATS softwares and recruiters prefer a one page resume.

• Add a cover letter-

  Once you have a compelling loan processor resume, its efficacy can heighten if you complement it with an equally outstanding cover letter. A cover letter can help you express your genuine interest in working for the specific company and gives you the opportunity to further highlight your relevant skills.

• Seek feedback-

  Before you submit your resume, you can consider getting a fresh perspective on your resume from your trusted industry peers or mentors. They can offer you valuable feedback to further enhance your loan processor resume.

Role of a Loan Processor

A loan processor has an important role in the lending process and their responsibilities revolve around ensuring that loan applications are complete, accurate and compliant with all the loan regulations. Let's take a detailed look at some of the primary responsibilities of a loan processor.

• Reviewing loan applications-

  The primary role of a loan processor is to review the loan applications submitted by borrowers. They check the accuracy of the loan documents and ensure that all the required information and details are provided.

• Loan document verification-

  A key responsibility for a loan process is to verify that all the information provided by the borrowers is accurate. This entails collecting and checking all the personal and financial details like employment history, income credit, debt obligations, pay stubs, tax reports etc. Property details also need to be validated specifically for mortgage loans.

• Credit check-

  Loan processors are expected to run credit checks on borrowers to assess their credit history. They are supposed to obtain credit reports and evaluate credit scores to assess the risk factor in lending to that particular loan applicant.

• Compliance -

  It is the responsibility of a loan processor to ensure the loan application process complies with the institutional, national and state regulations.

• Collaborating with underwriters-

  One of the key aspects of this job requires loan processors to work closely with underwriters and provide all the necessary information during the underwriting process. They act as a link between the underwriters and the borrowers.

• Aiding the final approval process-

  Once the loan documentation and verification process is complete, the loan processor needs to submit the loan file for a final approval to the underwriter who makes the final approval call.

• Customer service-

  Loan processors serve as the main point of contact for the loan applicants and are expected to address any queries and concerns they might have. Providing excellent customer service is essential to maintaining a smooth and stress-free application process.

Career Outlook for a Loan Processor

According to the US Bureau of Labour Statistics, the employment rate of loan officers is projected to grow at a steady rate of 3% from 2022 to 2032. The openings for loan processor positions is projected at 25,300 each year on average over the next decade. This implies there will be a steady and even increased demand for loan officers as both businesses and individuals need to seek credit for personal and professional endeavours. However, one should be aware of the constant automation and technology implementation in this industry and ensure to keep their skills updated to adapt to changing times.

The median annual wage for loan officers was $65,740 as of May, 2022. The lowest 10% earned less than $34,920 and the highest 10% of loan processors earned over $138,580.

Key Takeaways

• Refer to various resume examples and samples to get a comprehensive idea on how to draft your own resume.
• Choose an appropriate resume format.
• Ensure that your resume is well-structured and has consistent formatting.
• Write a powerful professional summary.
• Use bullet points and action verbs while listing your job responsibilities in the work experience section.
• Mention any relevant certifications you have received as a loan processor.
• Ensure to proofread and edit your resume and eliminate all the errors.
• Customise your resume before every job application.
• Use relevant and industry-specific keywords across your resume.
• Complement your resume with a cover letter.

Now, you are fully equipped to start drafting your loan processor resume. Incorporate our tips and examples and be on your way to applying for your ideal jobs in no time. If you would like more assistance with your resume writing process, then check out our vast collection of resume samples, templates and examples.

Frequently Asked Questions

What are loan processor duties?

A loan processor has a multitude of roles and responsibilities to fulfill in the loan application process.The following are some of the duties that need to be undertaken by a loan processor.

• Reviewing loan applications
• Loan document verification
• Doing credit checks
• Collaborating with underwriters
• Assisting with final approval process
• Customer service

How to write a loan processor resume?

A well structured and consistently formatted resume is required while applying for loan processor jobs. Include the following sections to write a compelling processor resume.

• Header
• Professional summary
• Work experience
• Skills
• Education
• Certifications

What is the ideal length for a loan processor resume?

The ideal length of a loan processor resume is one-two pages long. One page resumes are highly preferred during the recruitment process as they are easily scannable by ATS softwares and recruiters alike.