Description
Take into account the risk assessment and analysis and perform the final reviewing of the loan application in order to approve or deny the loan, and set in motion the necessary procedures following the decision.
Alternative labels
decide on investment applications
decide on mortgage applications
decide on credit applications
Skill type
skill/competence
Skill reusability level
cross-sector
Relationships with occupations
Essential skill
Decide on loan applications is an essential skill of the following occupations:
Mortgage broker: Mortgage brokers handle mortgage loan applications from clients, collect loan documentation and search for new mortgage lending opportunities. They complete and close mortgage loan processes for their clients.
Pawnbroker: Pawnbrokers offer loans to clients by securing them with personal objects or items. They assess the personal items given in exchange for the loan, they determine their value and amount of loan available and keep track of inventory assets.
Loan officer: Loan officers assess and authorise the approval of loan applications for individuals and businesses. They ensure complete transactions between loan organisations, borrowers, and sellers. Loan officers are specialists in consumer, mortgage, or commercial lending.
Student financial support coordinator: Student financial support coordinators assist students and education administrators in the management of tuition fees and student loans. They advise on and determine the amounts and the eligibility of student loans, advise students on available, suitable loans and liaise with outside loans sources, such as banks, to facilitate the student loan process. They make professional judgement decisions concerning students’ eligibility for financial aid and may set up counsel meetings including the student’s parents to discuss financial support issues and solutions.
Optional skill
Decide on loan applications is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.
Mortgage loan underwriter: Mortgage loan underwriters ensure compliance with underwriter guidelines. They participate in the implementation of new underwriting guidelines. They also review closed and denied loans.
References
- Decide on loan applications – ESCO
