Loan Processing

I am driven to be the best at what I do and I want to work somewhere where I'll have opportunities to develop my skills, take on interesting projects, and work with people I can really learn from. Some of the most innovative thinkers in the industry work here and that's a big reason why I would love to build a career here.” OR “My goal right now is to find a position at a company where I can grow and take on new challenges over time. Ultimately, I'd like to assume more management responsibilities and get involved in product strategy. But most importantly, I want to work for an organization where I can build a career.

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.

Extremely confident in making crucial decisions. I have learned to trust my gut instinct. I would rather stop knowing that I erred on the side of caution.

Fixed = client pays off a fixed rate over a fixed time period regardless of changes in trends that may cause the loan payment to increase or decrease.

FHA= 1st time buyers with low or no downpayment and lower credit scores. It is secured by Mortgage insurance that is included in the payment of the loan.

VA= former military and is usually no money down. Interest Only=borrow has option to pay only the interest on this loan for a specified period of time.

Adjustable (ARM)= a client who wants a lower rate up front and is willing to have the payments balloon at a later date. Someone who.

‘APR' (Annual Percentage Rate) can be ‘Fixed' or ‘Variable' type. In ‘Fixed APR', the interest rate remains same throughout the term of the loan or mortgage, while in ‘Variable APR' the interest rate will change without notice, based on the other factors like ‘prime rate'.

Delays are usually encountered at closing. To avoid delays at closing always send the good faith estimate to the loan officer the day before closing to go over with the customers to make sure they are in agreement with the final numbers.

Line of credit is an agreement or arrangement between the bank and a borrower, to provide a certain amount of loans on borrower's demand. The borrower can withdraw the amount at any moment of time and pay the interest only on the amount withdrawn. For example, if you have $5000 line of credit, you can withdraw the full amount or any amount less than $5000 (say $2000) and only pay the interest for the amount withdrawn (in this case $2000).

Loan originator, learn procedures, guidelines and policies from my previous employers.

Availability Float is a time difference between deposits made, and the funds are actually available in the account. It is time to process a physical cheque into your account.

For example, you have $20,000 already in your account and a cheque of another $10,000 dollar is deposited in your account but your account will show balance of $20,000 instead of $30,000 till your $10,000 dollar cheque is cleared this processing time is known as availability float.

Both are used for the transfer of the amount between two accounts of same banks or different bank. ‘Cheque' is issued by an individual who holds the account in a bank, while ‘Demand draft' is issued by the bank on request, and will charge you for the service. Also, demand draft cannot be cancelled, while cheques can be cancelled once issued.

COFI is an index that is used to determine interest rates or changes in the interest rates for certain types of Loans.

My ideal company to work for would be one that is fast growing, fast paced and where there is room for learning and advancement.

Payroll cards are types of smart cards issued by banks to facilitate salary payments between employer and employees. Through payroll card, employer can load salary payments onto an employee's smart card, and employee can withdraw the salary even though he/she doesn't have an account in the bank.

Chase, Huntington, PNC, and Private Clients.

Investment banking manages portfolios of financial assets, commodity and currency, fixed income, corporate finance, corporate advisory services for mergers and acquisitions, debt and equity writing etc.

I enjoy multi-tasking to the best of my ability and feel that organization is key to being able to multi-task.

I am absolutely familiar and spent many years training new loan officers on products and guidelines. I have done recent brushing up via the Internet and would like to gain more from your current employees.

Title and appraisal documents should be reviewed for issues or inconsistencies upon receipt. Title liens and appraisal issues often take a considerable amount of time to resolve. The underwriting process is expedited when those things are identified and addressed early rather than left for discovery by the lender.

Commercial bank is owned by the group of individuals or by a member of Federal Reserve System. The commercial bank offer services to individuals, they are primarily concerned with receiving deposits and lending to business. Such bank earns money by imposing interest on the loan borrowed by the borrower. The money that is deposited by the customer will be used by the bank to give business loan, auto loan, mortgages and home repair loans.