How Loan Interviewers and Clerks stay on track

With Monitask’s easy, all-in-one time tracking software
Loan Interviewers and Clerks hourly rate: $19,89

How much could Monitask save you?

Annual savings

$
Сalculation is performed automatically upon data entry
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What is the job of the Loan Interviewers and Clerks

Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.

Key tasks of the Loan Interviewers and Clerks

  • Verify and examine information and accuracy of loan application and closing documents.

  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Submit loan applications with recommendation for underwriting approval.
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
  • File and maintain loan records.
  • Contact credit bureaus, employers, and other sources to check applicants’ credit and personal references.
  • Check value of customer collateral to be held as loan security.
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Answer questions and advise customers regarding loans and transactions.
  • Present loan and repayment schedules to customers.

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What other tasks a Loan Interviewers and Clerks may have

  • Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.

  • Accept payment on accounts.
  • Schedule and conduct closings of mortgage transactions.
  • Establish credit limits and grant extensions of credit on overdue accounts.

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Top reasons to use time tracking for Loan Interviewers and Clerks

Organize your paperwork and comply with legal requirements

Use Monitask for complete control over your employees' working hours and get information about the hours worked in the form of convenient reports.
Demonstrating the total number of hours spent each year helps support your business and increases transparency with your customers.

Receive more grants and investments

Proper time calculations will ensure that you have supporting documents and data to show when you apply for investments or search for new strategic partners.

Save on payroll and identify bottlenecks

Review daily timesheets and productivity scores to identify bottlenecks and ways to improve your operations quickly.
Implementing the correct time-tracking solution always results in reduced payroll costs for part-time and full-time employees, and companies can get more things done for each dollar they invest in their recruitment efforts.

Improve staffing and scheduling

Scheduling takes the guesswork out of the project's management.
By reviewing scheduling reports, managers can quickly identify efforts and estimated the workforce needed to complete the projects on time.

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