A. Loan Processing
1. Receive and review loan applications for completeness and accuracy.
2. Verify applicant information, including income, credit history, and employment details to assess the creditworthiness of applicants.
3. Review and validate loan applications and securities to ascertain accuracy, validity, authenticity, and completeness ensuring that all loan processing activities comply with regulatory requirements and internal policies.
4. Conduct formal appraisals or site visits if necessary, on prescribed collaterals (e.g., real property, chattel, and deposits) to establish assessed values and legitimacy and prepare reports using approved forms to explain assessment results fully.
5. Communicate with applicants to gather additional information or clarify details as needed.
6. Process qualified loan applications and prepare all paperwork including Disclosure Statement in conformance with credit policies and guidelines.
B. Documentation Preparation
1. Prepare and organize loan documentation, including loan agreements, disclosures, and other required forms.
2. Ensure all documentation is accurate, complete, and compliant with regulatory requirements.
3. Submit loan files for underwriting and approval.
C. Compliance and Risk Management:
1. Adhere to all regulatory requirements, including anti-money laundering (AML) and know-your-customer (KYC) regulations.
2. Performing regular reviews and audits of loan accounts to ensure that all loans are current and in good standing
3. Ensure all loans are covered with loan insurance as required and enroll the same accurately in the system.
4. Identify and report any potential compliance issues or discrepancies.
5. Maintain up-to-date knowledge of relevant laws and regulations.
D. Record Keeping and Reporting:
1. Maintain accurate and organized loan files, records, and approvals.
2. Prepare and submit regular reports on loan processing activities and performance.
3. Ensure confidentiality and security of applicant information.