Loan Processing

The ‘balloon payment' is the final lump sum payment that is due. When the entire loan payment is not amortized over the life of the loan, the remaining balance is due as the final repayment to the lender. Balloon payment can occur within an adjustable rate or fixed rate mortgage.

Confident. I can see where deductions and percentages are deducted from annual income before tax and medical.

The date on which the principal amount of a loan becomes due and payable is known as ‘Loan Maturity'. Yield is commonly referred as the dividend, interest or return the investor receives from a security like stock or bond, interest on fix deposit etc. For example, any investment for $10,000 at interest rate of 4.25%, will give you a yield of $425.

When a loan is charged with high interest rate illegally then it is referred as ‘Usury'. Usury rates are generally set by State Law.

There are two types of card payments

a) Credit Card

b) Debit Card

When any company borrows funds, from a financial institution (bank) or other resources the interest paid on that amount is known as ‘cost of debt'.

A processor should have the ability to analyze a credit report regardless of what credit bureau or repository provided it. In addition to understanding the content of the report, the processor should know what documentation is required to address that credit profile.

☛ If your job was suddenly eliminated, what kinds of work do you feel prepared to do?

☛ What does your current job involve on a day-to-day basis?

☛ How do you handle rejection?

☛ What can you tell me about this company that nobody else can?

☛ In what ways do you think you can make a contribution to our company?

☛ What do you think is most important when dealing with your customer?

☛ How ambitious are you?

A cashier cheque issued by the bank on behalf of the customer and takes the guarantee for the payment. The payment is done from the bank's own funds and signed by the cashier. The cashier cheque is issued when rapid settlement is necessary.

Speaking my mind. I am reserved and tactful, and sometimes withhold my opinion when it may be used to serve a purpose. Speak to a situation, not an individual. When speaking to a scenario, one can tactfully express opinion.

A credit check or a credit report is done by the bank on a basis of an individual's financial credit. It is done in order to make sure that an individual is capable enough of meeting the financial obligation for its business or any other monetary transaction. The credit check is done keeping few aspects in concern like your liabilities, assets, income etc.

The classification of loan based on various risks and parameters like repayment risk, borrower's credit history etc. is known as ‘loan grading'. This system places loan on one to six categories, based on the stability and risk associated with the loan.

☛ How did you prepare for this work?

☛ Do you know anyone who works with our company?

☛ What kind of personality do you work best with and why?

☛ Has anything ever irritated you about people you've worked with?

☛ What steps do you follow to study a problem before making a decision?

☛ In your opinion, what makes you different from the other applicants?

☛ If you could start your professional life again, what would you do differently?

☛ Have you ever worked with anyone with developmental disabilities?

☛ Why did you choose your degree subject?

☛ What type of people do you like to work with?

☛ How would you define good customer service?

☛ Tell me about your most significant work experience.

☛ What was the most important task you ever had?

☛ What problems have you encountered at work?

☛ What relevant experience do you have?

☛ Which subjects did you enjoy during your qualifying degree?

☛ What attracted you to this company?

It is meant to see whether or not you'll speak poorly of an employer.

No matter the question, applicants should provide positive, result-oriented responses. The interviewers want to know the real you, the potential candidate they may accept in.

☛ What kind of decisions are most difficult for you to make?

☛ What have you learned from your past jobs?

☛ What are your long and short range plans?

☛ What qualities should a successful manager possess?

☛ What is the last movie you watched?

☛ What was the most rewarding experience at work?

☛ What sort of things do you like to delegate?

☛ Tell me about an important goal that you set in the past.

☛ If you were hiring a person for this job, what would you look for?

☛ What has been your biggest professional disappointment?

☛ What do you feel is the best educational preparation for this career?

☛ When were you most satisfied in your job?

☛ Tell me about an important issue you encountered recently.

☛ Tell about a problem that you solved in a unique or unusual way.

☛ What will you do if you don't get this position?

☛ Did you feel you progressed satisfactorily in your last Loan Processor job?

☛ What are your salary increases?

☛ When was the last time you were in a crises?

☛ When given an important assignment, how do you approach it?

☛ List five words that describe your character.

☛ What has been your most successful experience in speech making?

☛ Who has impacted you most in your career and how?

☛ What three character traits would your friends use to describe you?

☛ Describe a time you were faced with stresses which tested your skills.

☛ 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?