23 May 2021

What Does A Home Loan Specialist Do?

Offset Account: 4 Benefits Offered by this Mortgage Asset

A home loan specialist has several duties. It’s best if they come into their position with previous mortgage experience, but some lenders will accept an applicant who just finished their education. Then, on-the-job training will be provided. 

This position requires stellar customer service skills. You’ll be working on the front-facing side of the mortgage application process. Whereas the underwriting department works on the back-side.

The following are duties a home loan specialist performs.

Drive Bank Lending Activities

Home loan specialists are the sales team for their branch. When applications arrive, the specialist is the first point of contact. You take a look at the information and connect the applicant with the most appropriate products. After an evaluation, the specialist passes on the application to the credit team.

Assist Applicants

As the loan application makes its way through the proper channels, the specialist remains proactive. Your job is to contact the applicant and provide exceptional customer service at all times. At all stages, the specialist remains the primary point of contact. So, it’s important to be organised, able to multitask and remain courteous.

Connect with Potential New Customers

The specialist handles incoming loan applications. They also focus on procuring new ones through other means such as marketing and advertising. This professional is responsible for helping their branch achieve their goals. 

Cross-Sell Products

One way a branch achieves its goals is through cross-selling led by the loan specialist team. Once a lender acquires a new customer, it’s time to nurture the relationship. They may acquire a mortgage this year, but in five years, they may need to refinance the mortgage or fund a child’s education.

Home Loan Specialist Conclusion

A home loan specialist completes several front-facing tasks of the application process. Duties include assisting applicants, answering questions, and helping a lending branch meet goals. Customers who work with Mortgage House can rest assured that we hire the most qualified loan specialists. Ours also know the ins and outs of the car loan.

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