Loan Processing

Yes through speaking with clients and building a relationship clients become more trusting and open to working with you when situations arise with the loan.

A bank is a financial institution licensed as a receiver of cash deposits. There are two types of banks, commercial banks and investment banks. In most of the countries, banks are regulated by the national government or central bank.

Any deposit that is held by one bank for another bank is known as inter-bank deposit. The bank for which the deposit is being held is referred as the correspondent bank.

Yes, bank will charge on ‘overdraft protection' services but the charges will be applicable only when you start using the service.

Before opening a bank account, if it is a saving account, you have to check the interest rate on the deposit and whether the interest rate remains consistent for the period. If you have the checking account, then look for how many cheques are free to use. Some banks may charge you for using paper cheques or ordering new cheque books. Also, check for different debit card option that is provided on opening an account and online banking features.

To perform at a consistent, then exemplary level by the end of year one. By year two, to have earned recommendations from current accounts.

You'd be surprised how many times someone forgot about that at closing condition. Pay special attention to those conditions and get as many as possible cleared beforehand. Additionally, make certain that you are aware of the lender's deadline for closing document requests.

Committment. I am known for seeing every goal through, and exceeding it.

An experienced processor knows that although the condition sheet says that the lender wants one thing, they will actually accept another. Knowing how to ask the right person the right questions can save a lot of time and trouble.

In order for a loan to close in a timely fashion, file documentation must be available when needed. Find out the turn around time for all of the documents required for your file and request them far enough in advance.

Foreign draft is an alternative to foreign currency; it is generally used to send money to a foreign country. It can be purchased from the commercial banks, and they will charge according to their banks rules and norms. People opt for ‘foreign draft' for sending money as this method of sending money is cheaper and safer. It also enables receiver to access the funds quicker than a cheque or cash transfer.

Variety of tasks, feeling of satisfaction I get when I can assist consumers in their home needs.

The experience, drive, inner motivation to succeed in order to help others is not something that can be taught. I have a proven record of commitment.

Home equity loan, also known as the second mortgage, enables you to borrow money against the value of equity in your home. For example, if the value of the home is $1, 50,000 and you have paid $50,000. The balance owed on your mortgage is $1, 00,000. The amount $50,000 is an equity, which is the difference of the actual value of the home and what you owe to the bank. Based on equity the lender will give you a loan. Usually, the applicant will get 85% of the loan on its equity, considering your income and credit score. In this case, you will get 85% of $50,000, which is $42,500.

The loan origination system software I am most familiar with would be LIS as I had worked on it and installed new systems to the software for about two years.

‘Bill Discount' is a settlement of the bill, where your electricity bill or gas bill is sold to a bank for early payment at less than the face value and the bank will recover the full amount of the bill from you before bill due date. For example, electricity bill for XYZ is $1000; the electricity bill company will sell the bill to the bank for 10% to 20% discount to the face value. Here, the bank will buy the electricity bill for $900 whose face value is $1000, now the bank will recover, full amount of bill from the customer i.e $1000. If the customer fails to pay the bill, the bank will put interest on the outstanding bill and ask the customer for the payment.

Math, communication (written and verbal), ethics, organizational skills, setting and executing to achieve goals, proficiency in the application of the statistical and probability studies using the collected data and then concluding with a logical decision.

A person who signs a note to guarantee the payment of the loan on behalf of the main loan applicant's is known as co-maker or co-signer.

There is not much difference between bank guarantee and letter of credit as they both take the liability of payment. A bank guarantee contains more risk for a bank than a letter of credit as it is protecting both parties the purchaser and seller.