Loan Officer Interview Questions
While interviewing candidates for the post of loan officer, ensure you focus more on their sales skills. The ideal candidate will own sharp sales skills and have enough knowledge of the domain. Forego the lack of banking skills if they possess the others as loan officers work more in approving mortgages, general loans, etc that need good selling capabilities.
Below are questions to help you select the best candidate.
- Why do you want to work for us?
- What according to you are the qualities a loan officer should possess?
- How do you define yourself?
- How do you think the company will be affected positively by hiring you?
- What do you think are the major challenges of this job?
- How do you think your past experience has helped you for your present role?
- How you do prioritize work?
- What do you think are your prime duties?
- What is the first thing you’ll focus on if you’re hired?
- Tell us about your experience with reviewing and filing loans.
- How comfortable are you with LP and DU?
- Which factors do you consider while reviewing a loan?
- What is risk layering?
- Tell us about a time when you introduced a new mortgage structure. How did it help?
- Describe your selling style?
- How would you guide a customer through the loan filing process?
- Tell us about your most difficult sale.
- Tell us about a time when you felt fulfilled with your job?
- Defend the remuneration package that you want.