Loan processor interview questions and answers

If you want to leave the best impression during your interview, take our advice garnered from interviewing hundreds of mortgage professionals as a financial services recruiter. Whether you’re a loan officer, processor, underwriter, servicer, or credit investigator, we gathered the common mortgage job interview questions you’ll want to prepare for, as well as how to answer them.

General loan processing interview questions
  • Tell me about yourself.
  • How did you hear about this position?
  • Why do you want to work at this company?
  • What are your greatest strengths?
  • What is a weakness you have?
  • Tell me about a time you faced a challenge.
  • What are your core values?
  • Where do you see yourself in five years?

Mortgage Loan Processor Interview Questions with Answers

6. What are three skills you think a good loan officer should have?

To make sure that applicants understand the requirements of the job, employers may ask what skills you think are necessary to be successful in the role. When answering, make sure to reference the skills they listed on the job description to show employers that you’re a great match for the role.

  • To be a successful loan officer, I believe you need strong sales or marketing experience, exceptional communication skills, and good decision making. Without those skills, I think it would be very difficult to attract new business and sell different mortgage structures to clients.
  • loan processor interview questions

    A loan processor’s skill set resembles that of a detective. They should be able to interview potential clients and evaluate applications, looking for red flags, omissions or inconsistencies. Their principal strengths are sound judgement and attention to detail. Math and communication skills are necessary as they’ll work closely with loan officers, underwriters and clients. Time-management and working with targets are also important aspects of the job.

    You have many applications on your desk. Loan officers are calling, clients are calling, demanding information about the status of their applications. What will you do?

    Precision matters more than speed in this job. And while customer service is important, you should never lower your quality standards just to please the customer.

    Tell the interviewers that you will calmly explain them that they have to wait, that your work is not finished yet. You kindly ask them to not call again–you need to focus on your main work, after all, which is gathering and analyzing the documents, and not answering phone calls.

    Hence you will follow the standard procedure with each application, and won’t let other people to get into your head, or to stress you out.

    You can say though that you may work overtime when the workload is heavy. Showing your willingness to sacrifice something for your job and employer is never a bad idea in the interviews.

    1. What do you know about our company?

    To see if candidates have done their research or are interested in the company, interviewers will often ask candidates what they know about the business. Answer this question by sharing what you’ve discovered about the company in your research. Definitely touch on what the company does as a whole, but also on what makes them unique. Is there a niche focus area they highlight on their website’s “About Us” page? Has something they’ve done recently been in the news? If so, call that out in your answer and share why it aligns with why you want to work there.

  • I know that XYZ Financial is focused on providing simple, helpful financial tools to their clients, allowing them to save, borrow, and transact finances with confidence. I think that vision aligns well with my skills and experience.
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