By scrutinizing credit reports, payment histories, and debt-to-income ratios, they determine the risk associated with lending to a particular individual or business. For example, a small business operator seeking a loan to expand surgery get its organization’s economic comments analyzed to gauge the risk involved in extending credit.

Loan officers serve as the primary point of contact between applicants and the lending institution. Effective communication and interpersonal skills are vital to ensure a positive borrower experience. Continue reading “One of the important aspects of a loan officer’s job is to assess the latest creditworthiness of candidates” →