1⟩ Tell us which loan origination system software are you most familiar with?
Unfortunate have not used any at this point but looking forward to gaining experience.
Loan Inspector
Home Banking Loan Inspector
“Loan Inspector Frequently Asked Questions in various Loan Inspector job interviews by interviewer. The set of questions are here to ensures that you offer a perfect answer posed to you. So get preparation for your new job interview”
37 Loan Inspector Questions And Answers
2⟩ Tell us how confident are you in making crucial decisions?
I have worked in customer service for some time and have also handled more escalated situations. For the most part, I feel confident that I can make a decision to do what is right and appropriate regardless of the situation.
3⟩ Tell me what is your ideal company to work for?
A niche mortgage company one that who's only operations are mortgage and even so, a company that has a focus on only certain types of loans to better serve clientele.
4⟩ Do you work well under pressure as Loan Inspector?
Pressure to me is not a concern due to the fact that when all task are ordered by length of time to complete and the amount of daily tasks, you avoid an over filled work load. If for some reason issues arise I always guarantee the task to be completed.
5⟩ Explain me how reliable of a worker are you?
I consider myself to be very reliable. I will stay until the job gets done and if needed I will come in early. Whatever is needed to get the loan closed.
6⟩ Tell me during the loan process, if someone is not doing their job right, what do you do?
I will nicely and a professional way point out the mistake and the correct way to proceed to work as a team and meet pour company's goals.
7⟩ Tell me why do you believe you are a good fit for our company culture?
Because not only I have the experience, but its a life/professional goal I set many years ago and also because I like it and I enjoyed doing this, of course there are times when you nned to take a mental break.
8⟩ Tell us do you have experience using Desktop Originator?
I do not. However, I am in the process of learning more about mortgage loans and love to learn about the process in general. I also can learn most programs quickly.
9⟩ Explain what are the biggest challenges you face in processing?
I would love to help every borrower find the right loan, but I know that that is not always possible.
10⟩ What experience do you have as Loan Inspector?
Speak about specifics that relate to the position you are applying for.
If you do not have specific experience, get as close as you can.
11⟩ Tell me why do you think you are the strongest candidate for the job? Explain what makes you different and/or more valuable than other Mortgage Loan Processors?
I am willing to sacrifice time when needed, am not the typical 8 to 5 with an hour of lunch, I do what is necessary to get the job done even if that includes extra effort on every aspect.
12⟩ What are your career goals as Loan Inspector?
Get back into the mortgage industry through loan processing and then move up to loan originator and possibly broker.
13⟩ What have you done in the past year to make yourself a better Mortgage Loan Processor?
I have been working on LMCU mortgage courses to learn more about the loan process, ethics, and law. Likewise I have been researching about mortgage procedures on my own time.
14⟩ Explain me what skills do you feel are most essential in order to be a successful Mortgage Loan Processor?
Excellent organizational skills and ability to shift priorities throughout the day. Also the loyalty to working whatever hours are necessary to ensure that loans get closed.
15⟩ Tell me how familiar are you with Truth In Lending regulations? How closely do you follow this federal mandate?
I just know the basic definition from my real estate national preparation guide.
16⟩ Tell us on a scale of 1-10 with 10 being highest, how confident are you with your knowledge and skill in Desktop Underwriter (DU)?
There are two systems: one is Fannie Mae's DU (Desktop Underwriter — sometimes called Desktop Originator) and the other one is Freddie Mac's LP (Loan Prospector).
17⟩ Tell me what do you know about our company work?
Co is built on a foundation of shared values; ie, trust, integrity, quality relationships and financial strength.
18⟩ What is your greatest strength as Loan Inspector?
Team player by my actions I will back up those in need, offer help and guidance, work hard to accomplish the entire task at hand versus just my part. I am very conscientious and want to do the right thing overall for the customer rather than letting something suffer because of politics. Loyal, dedicated, decisive, curious.
19⟩ Please explain how often are you given new business through referrals?
Because I have proven that I am an asset as I learn and grow fast and I love to assist others around me if assistance is needed. I have high work ethics, and will do what I can to go above and beyond and make my employer look good.
20⟩ Basic Loan Inspector Job Interview Questions
How do you calculate income?
What methods would you use to analyze credit?
Imagine you have a busy day, with loan officers and clients calling constantly to inquire about the state of applications. How do you handle the stress? What do you do to ensure excellent customer service?
How would you approach a demanding loan officer/underwriter?
What documents would you ask for to begin processing a loan?
