Explanation

Answer Example

When reviewing and processing a loan application, I start by verifying the accuracy and completeness of all submitted documents, such as income statements, credit reports, and property appraisals. Next, I cross-check the application against internal guidelines and external regulations like those from the CFPB to ensure compliance. I then input the data into the loan management system, flagging any discrepancies for further review. Finally, I communicate the approval or denial decision to the relevant parties, maintaining thorough documentation throughout the process. In my previous role, this approach helped reduce application error rates by 15%.