Tell the hiring manager what type of company culture you are looking for. Include your goals for advancement, environment, size of company and variety of opportunities.
"My ideal company to work for is a medium sized company that offers a strong growth plan for dedicated employees. Ideally, I am seeking an organization that values their community and gives back. A positive culture is very important to me."
Being a reliable employee is an important quality. Be sure to tell the hiring manager about your punctuality, attendance, and willingness to go above and beyond when required.
"I am a very reliable worker. If you spoke with my current supervisor she would tell you that I have had zero unexcused absences in the past 3 years. I am always on time and will work overtime when required."
If you are very confident with your knowledge in Fannie Mae and Freddie Mac, you can answer like this: "I am very familiar and comfortable with both of these selling guides, and have referred to them regularly throughout my career as a mortgage loan processor." If you are not confident with your knowledge in Fannie Mae and Freddie Mac, you can answer like this: "I have recently studied both of these selling guides and would consider myself at a beginner level of understanding at this point. I will certainly be dedicating my time further to better understand these selling guides."
"I am very familiar and comfortable with both of these selling guides, and have referred to them regularly throughout my career as a mortgage loan processor."
For the most part, the task you enjoy doing the most is also the task that you are the most skilled in. How you answer will give the hiring manager some insight into your top skill(s).
"My favorite thing about loan processing is digging deep with the client interviews to really find out their financial needs and resources. I enjoy getting to know my clients and helping them to discover things about their finances that perhaps they didn't know before."
Have you been given a lot of autonomy in your current position? Tell the hiring manager about your ability and level of comfortability in making difficult and important decisions.
"In my current role I am given the ability to make crucial decisions very independently. I work very hard at ensuring I am knowledgable so that I can confidently make crucial decisions without second guessing myself."
Do you take courses, workshops or seminars related to the industry? Tell the hiring manager how you ensure that you are always bettering yourself as a mortgage loan processor.
"This year, I became a member of the NAMP. I also take online courses every quarter to further my knowledge on more complicated mortgage related skills. If there is any education or training that you can recommend for me to take, I am happy to do so as well."
When you have multiple tasks and deadlines, how do you manage them and ensure that your work is completed on time? Tell the hiring manager about the tools and techniques you use to determine your day to day priorities.
"My priorities are generally the same each day so I have a full understanding of what needs to be accomplished first when I arrive to work. If a new task is sent my way, I will always ask what the deadline is so that I can determine it's stage of priority. We also have great tools and software to keep me properly prioritize."
Think of a task or skill that you are consistently given positive feedback on. You can also back your answer by telling the hiring manager about a time when you received kudos from a supervisor or co-worker for this skill.
"My current supervisor consistently compliments me on my ability to do calculations off the cuff. I have very strong math skills and the ability to calculate quickly in my head. It's very helpful as a mortgage loan processor."
If you are very confident with your knowledge in Desktop Originator, you can answer like this: "I have worked with this tool nearly every day on the job for the past 8 years. I consider myself advanced in this tool but not an expert. I can always learn more." If you are not confident with your knowledge in Desktop Originator, you can answer like this: "I have not worked much within Desktop Originator but I do understand the basics of the program. I am confident that I would pick this skill up very quickly."
"I have worked with this tool nearly every day on the job for the past 8 years. I consider myself advanced in this tool but not an expert. I can always learn more."
When you answer this question be sure to include the needs of the company you are interviewing with. The hiring manager is looking for signs that you are planning to stay with their organization for the long term.
"I am looking for a long term fit in my next role. In 5 years, I would love to be here! Moving up in my role would be a bonus as well. Perhaps into a lower level supervisory role."
Talk to the hiring manager about what you are most excited about when it comes to their company culture, and why you feel that makes you the best fit.
"I feel that I am a fit for your company culture because many of our values are in alignment. I believe in fostering and encouraging an open work environment. Also, community involvement is important to me and I really like that your company puts such a huge emphasis on that."
Why do you want to work for this company? Show the hiring manager that you have done your research. They want to know that you want 'this' job...not just any job.
"I have researched your organization a great deal and I also follow you on social media platforms. I see that you are customer first, concerned about the happiness of your clients and that you also perform a lot of charity work which is all very attractive."
Be sure to include any and all loan software you have used and are comfortable in. You can then focus in on the ones that you are most familiar with. It is absolutely okay to ask the interviewer which loan origination system software is used in this role.
"I have used many loan origination system softwares. Could you tell me which one(s) you use in this organization? I have used X, Y and Z but am most familiar with X as I currently use it on a daily basis."
Tell the hiring manager about your degree, your best courses, any awards or scholarships that you have received, and any additional training you have received. Be sure to mention any special certifications or affiliations.
"I completed my Bachelors degree in 2006 with a focus on e-commerce and law. My best course was in corporate law and legislation. I graduated with honors. Since then I have received additional accreditations through the FNMA."
Tell the hiring manager how you handle receiving and giving unfavorable news. Give a specific example if you can.
"This happened recently where an application that I worked very hard on was declined. I never enjoy giving bad news to a client but I always take it as an opportunity to coach them on what they can do to improve their chances of approval next time around. I try to turn the negative experience into a positive one and encourage them to try again down the road."
The TILA (Truth in Lending Act) must be abided by and the hiring manager needs to be confident that you are well-versed in the act, and that you respect the regulations.
" I am very familiar with Truth in Lending regulations. This federal law was designed to promote the informed use of consumer credit and to standardize the manner in which costs associated with borrowing are calculated and disclosed. It's a very important act that I follow 100% of the time."
If you are very confident with Loan-To-Value ratios you can answer like this: "I have performed these types of calculations every day on the job for the past 8 years. I consider myself advanced in this skill." If you are not confident with Loan-To-Value ratios you can answer like this: "I have not performed many of these types of calculations but I do understand how they are done. I am confident that I would pick this skill up in no time."
"I have performed these types of calculations every day on the job for the past 8 years. I consider myself advanced in this skill."
If you are very confident with your knowledge in LP, you can answer like this: "I have worked in LP nearly every day on the job for the past 8 years. I consider myself advanced in this tool but not an expert so I would rate myself at an 8." If you are not confident with your knowledge in LP, you can answer like this: "I have not worked much within LP but I do understand the basics of the program. I am confident that I would pick this assessment tool up in no time. Because of this, I would rate myself at a 5."
"I have worked in LP nearly every day on the job for the past 8 years. I consider myself advanced in this tool but not an expert so I would rate myself at an 8."
As a mortgage loan processor, your referral rate can tell the hiring manager a lot about your clients' level of satisfaction and also your sales abilities. Do you ask for, and track, your referrals?
"I have tracked my referrals for the past 3 years. On average, one in every 4 clients will refer someone to me. In our organization, the average is one in 9 so I am happy to say that my referral rate is much above average."
Tell the hiring manager how you build a relationship with your clients and if you enjoy doing so.
"I really do enjoy building relationships with my clients. If I have a strong relationship with them, that means a higher referral rate and much easier communication, overall. I will always get to know my clients on a bit of a personal level so that they feel comfortable with me throughout the entire application process."
Tell the hiring manager what you feel is the most important skill or skills as a mortgage loan processor. Do you feel that you have these skills?
"I feel that the most essential skills to be a successful mortgage loan processor are organization, attention to detail, the ability to retain information and you should be strong in math. I very much possess these skills, and more."
Tell the hiring manager what your end goal is within this industry. Make sure your goal is reasonable and attainable and be sure to include their company if possible.
"My career goals are to end up in a managerial role within mortgage processing. For example, working my way up in one of your departments and eventually taking on a leadership role."
Be sure to keep your answer work-related and do not give an answer that would create a major red flag for the employer. Keep it important but light enough.
"One weakness I find coming up for me is within my Excel skills. I do not have strong skills in v-lookups and pivot tables. For this reason, I have enrolled in an Excel course that begins next week."
Tell the hiring manager about a time that you have been under pressure, and how it was handled. Or, you can discuss any positive feedback you've received on your ability to work well under pressure.
"I work very well under pressure and have been complimented consistently on my ability to do so. I stay cool and collected by remaining organized and working overtime if a deadline is involved."
Tell the hiring manager about your ability to handle multiple tasks and deadlines. How do you stay organized and consistent? You can also include any feedback that you've received from previous managers or supervisors on this topic.
"In my performance reviews, my supervisor always compliments me on my ability to keep organized and manage multiple tasks. I am able to juggle a lot through staying focused, organization and utilizing the software and tools provided to me."
Tell the hiring manager whom you have worked with in the past, as far as lenders are concerned. Who are your favorites and who do you have the strongest relationship with? Also be sure to ask the hiring manager whom they deal with the most. This can help you to build rapport if you are familiar with their favorites.
"I have worked with all of the major lenders and would say that I am most familiar with CitiMortgage, Chase Mortgage and Bank of America Home Loans. Of those three, Bank of America has been the easiest to work with, in my experience. Which lenders do you use the most in this firm?"
If you are very confident with your knowledge in DU, you can answer like this: "I have worked in DU nearly every day on the job for the past 8 years. I consider myself advanced in this tool and would rate myself a 9." If you are not confident with your knowledge in DU, you can answer like this: "I have not worked much within DU but I do understand the basics of the program. I am confident that I would pick this assessment tool up in no time. Because of this, I would rate myself at a 4.
"I have worked in DU nearly every day on the job for the past 8 years. I consider myself advanced in this tool and would rate myself a 9."
Briefly describe to the hiring manager how you arrive to accurate pay stub calculations and then talk about your level of comfortability with this task.
"When calculating an average income, I take the six-month income to determine the average gross earnings. I then total the gross earnings of all the pay stubs provided and divide the result by the number of pay stubs. The result is the average gross earnings per pay period. This is a task I am very comfortable with as I have been doing this for quite some time."
Talk to the hiring manager about what makes you unique. This is a great time to discuss any additional coursework or skills that set you apart.
"I feel I am the strongest candidate for the job because I bring all of the 'must-have' and 'nice to have' skills listed in your job posting. In addition to my experience, I also speak 3 languages which allows me to connect with a broader audience of clientele. I come with strong references and am highly certified in this field."
Tell the hiring manager about what you know in regards to the Federal guidelines. If you have any additional training or certifications related to Home Loans and Mortgages, this is a good time to discuss those as well.
"I am very familiar with FNMA and FHLMC guidelines having worked with them for the past 8 years. I have also trained junior mortgage processors on these guidelines."
As a Loan Processor, you will work with the underwriters and the loan officer. A loan processor will analyze data and assist loan officers with loan approvals. They must be able to communicate efficiently to their loan officers and underwriters.
Key characteristics that a person interested in a Loan Processor position should have; organizational skills, communicational skills, data-entry, punctual, diligent, and have a strong desire for accuracy for anything they put their name on.
To succeed in an interview for a Loan Processor position, a successful candidate should theme their responses around having strong communicational skills, very punctual with their time, and ensures hundred percent accuracy on any document they process. Interviews will typically be formal. Expect most interviews to be one-on-one and one to two interviews before being hired.