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A Retail Loan Processor is responsible for handling the administrative and operational tasks involved in processing retail loans, including personal loans, home loans, auto loans, and educational loans. The primary focus is to ensure the accurate and efficient processing of loan applications, verification of documents, and compliance with legal and regulatory requirements.
Loan Application Review:
Review loan applications submitted by customers to ensure all required information is complete and accurate and are compliant with internal policies and regulatory guidelines.
Document Verification , Coordination and Underwriting :
Verify the authenticity and completeness of documents submitted by applicants (e.g., income proof, identity documents, credit reports, etc.). Coordinate with customers to obtain missing or incomplete documentation, if necessary.
Prepare reports and recommendations based on applicant data for approval by the loan
officer or underwriting team.
Customer Communication:
Serve as the primary point of contact for applicants, providing updates and answering inquiries regarding the status of their loan application. Maintain clear and professional communication with customers via phone, email, or in person.
Loan Coordination end to end:
Work with the underwriting team to ensure timely loan approval or rejection based on internal policies and credit guidelines.
Prepare loan documents for approval and ensure that all terms are clearly outlined and understood.
Assist in coordinating the disbursement of approved loans, ensuring that funds are transferred to the correct account in a timely manner.
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