Loan Processor Cover Letter Examples

What to Include in a Loan Processor Cover Letter?

Roles And Responsibilities

Determine all applicable ratios and metrics and set up debt payment plans.
Interview applicants to determine financial eligibility and feasibility of granting loans.
Review active loan files each day to determine if any documents are missing or what can be done to help the process along.
Identify and recommend products that meet the customer’s needs and the organization’s lending guidelines.
Communicate with clients either to request or to provide information.
Utilize professional judgment to determine which potential borrowers represent good risk opportunities for the organization.

Education & Skills

Moreover, the cover letter of the Loan Processor should also mention the following skills:

Knowledge of auto loan concepts.
Working knowledge of “Encompass”.
Knowledge of processing VA and FHA.
Strong command of the English language.
Strong analytical skills.
Ability to work independently in an organized manner.

Successful cover letters for the post of Loan Processor would mention the following educational qualification(s):

High School Graduation or equivalent.

Loan Processor Cover Letter Example (Text Version)

Dear Mr./Mrs.,

This letter is in response to your advertisement to fill the vacancy of Loan Processor at [XXX Company]. I believe I can contribute well to your company considering my five-year experience in this field. I am proficient in Encompass loan origination software and also have experience processing FHA and VA loans.

An opportunity to work in an organization as popular and reputed as yours would be a great boost to my career. You are one of the fastest-growing businesses in this field and I have always admired your commitment to customer satisfaction and work quality. I believe your company can provide a great platform for me to enhance and upgrade my skills.

I am currently working as a Loan Processor at [YYY Company]. Some of my duties there include:

Track and process loans.
Verification of account information after careful research.
Collect and organize necessary documents from clients.
Liaison with third-party vendors including.
Communicate concerns regarding fraudulent documentation or misrepresentation with the concerned authorities.
Managing a heavy loan pipeline.

I am confident in my time-management skills and ability to work under pressure. I am comfortable with flexible timing and in fact, will be a reliable employee for work after-hours. I am diligent and believe in an impeccable work ethic. With my experience and relevant technical skills, I believe I significantly contribute to the growth of your company.

I am looking forward to meeting you in person and explaining how well I can fit into your company. Thank you for your time and patience.

Sincerely,
[Your Name]

Tips

An effective Loan Processor Cover Letter can help the recruiter distinguish between candidates with the same educational qualification and similar work experience. Your cover letter should not be a copy of your resume. If you are looking for ideas on how to create an impressive resume, check out our Loan Processor Resume Sample.