What Is a Loan Document Specialist?


Loan document specialists work in banks and other credit lending institutions where they review customers' loan applications. They verify financial documents and maintain contact with loan applicants. Some loan document specialists specialize in a specific type of loan, such as car loan or mortgage loan.

Doing the Work

  • Loan document specialists help applicants secure credit from lending institutions. When a customer visits a bank to apply for a car loan, for example, the loan document specialist informs him about the documents he needs to fill out and the procedure for submitting the application. Upon receiving the application, the specialist reviews the documents and verifies the customer's personal, employment and financial information. If there are discrepancies, the specialist contacts the customer to inquire about the issue. If the documents meet the bank’s requirements, the document specialist may approve the application or recommend it for approval by senior loan officers. He also drafts loan agreement forms -- documents that stipulate the terms and conditions of the loan -- and other documents that are required to finalize the transaction.

Getting the Job

  • Aspiring loan document specialists can find employment with a high school diploma and some banking experience. Those with an associate degree in finance or banking, however, have stronger employment prospects. Loan document specialists who want to specialize in mortgage loans must first obtain a Mortgage Loan Originator license, which are issued by the Nationwide Mortgage Licensing System & Registry. Document specialists need strong communication and organization skills, as well as attention to detail. Loan document specialists can earn a bachelor’s degree to become heads of credit or chief loan officers.

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