Loan Counselors

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Code: 13-2071.01

Description : Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.

JobTitles : Financial Aid Counselor, Financial Aid Director, Financial Aid Administrator, Financial Assistance Advisor, Commercial Lending Vice President, Financial Aid Advisor, Financial Aid Officer, Lending Services Manager, Loan Counselor, Pell Coordinator

Tasks:
  • Check loan agreements to ensure that they are complete and accurate, according to policies.
  • Refer loans to loan committees for approval.
  • Approve loans within specified limits.
  • Submit applications to credit analysts for verification and recommendation.
  • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  • Interview applicants and request specified information for loan applications.
  • Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
  • Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
  • Maintain current knowledge of credit regulations.
  • Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.