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Loan Processing Classes and Training Information

Loan processors prepare documents, interview loan applicants and verify loan application forms for major purchases, such as boats, vehicles and homes. Loan processors generally receive on-the-job training, but employers may prefer applicants who have had some college training.

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Essential Information

The most common training for commercial loan processors is a bachelor's degree program in finance, real estate, economics or business. These bachelor's degree programs include a core of liberal arts courses that offers a crucial background in writing and business communication, mathematics and statistics. Degree programs in finance and business typically include courses that address effective business accounting skills, and students also learn to navigate computer business applications and review financial statements.

Shorter training options are available through undergraduate certificate programs commonly offered at technical and community colleges. Certificates are offered in loan processing, mortgage lending and mortgage brokerage and banking. Stand-alone courses in loan processing are also available through industry associations and 2-year colleges.

Here are some common concepts taught in loan processing classes:

  • Documentation
  • Regulations
  • Paperwork
  • Types of loans
  • Ways of identifying a customer's financial history
  • Practicing ethical procedures

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  • Banking Related Services
  • Credit Management
  • Financial Mgmt Services
  • Financial Planning Services
  • International Finance
  • Investments and Securities
  • Public Finance Mgmt

List of Common Courses

Beginning Loan Processing Course

Students in this course gain skills and knowledge of loan processing procedures. Course material introduces students to mortgage banking and brokerage. Students study the procedures for ensuring that applicants, brokers and bankers are following state finance and mortgage laws. By following the loan application process closely, students learn to assess applications by analyzing the numbers. Other course topics cover obtaining appropriate documentation, following state regulations and learning to detect fraud. Often found towards the beginning of real estate or banking programs, this course also touches on customer service issues, business ethics, time restraints and deadlines.

Advanced Loan Processing Courses

An advanced course in loan processing often covers specific types of loans, such as FHA or government loans. Students learn the qualifications for each type of loan, as well as familiarize themselves with the required applications and paperwork. This course may also introduce loan underwriting.

Loan Underwriting Course

Students enrolled in a course specific to loan underwriting gain a deeper understanding of the process and authentication required for obtaining a loan. It offers students an introduction to methods of evaluating applicants' financial situation. Loan processing students learn how credit history, employment and financial statements are used in process and policies involved in lending.

Principles of Loan Closing Course

Loan processing classes related to closing a loan cover the conditions and documents needed to complete the loan process. Course topics include locking in rates, arranging for loan insurance and preparing attorney agreements. Students also learn to review loan documents and then discuss ethics as it relates to closing a loan.

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