Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

A loan assistant supports a lender on the front-end of the loan process. This allows the lender to be more productive in his or her own position. Depending on the financial institution, a loan assistant may also be known as a loan administrator; however, in most cases, loan administrators are usually involved with managing loan files after booking—not before booking.

Loan Assistant Functions

Loan assistants streamline the lending process by performing a variety of duties for the lenders that they support. Responsibilities can vary significantly based on the financial institution’s structure and the loan assistant’s capabilities. Loan assistants help with the following tasks:

  • Preparing loan presentations
  • Contacting potential borrowers for missing information and documents
  • Taking steps needed to clear exceptions
  • Working on line-of-credit advances for existing customers or members

A loan assistant’s job can be very busy and fast-paced. This is especially true when one loan assistant is assigned to two or more lenders. A good loan assistant can juggle many responsibilities at once and has a strong eye for detail. Loan assistants should also be comfortable using technology, especially:

  • Email
  • Document management software
  • Electronic signature tools
  • Document collection portals
  • Microsoft Excel and PowerPoint

Resources for Loan Assistants

Interested in learning more and advancing your career as a loan assistant? Download a free resource from our digital library. Check out our collection of free spreadsheets, whitepapers, videos and Books or browse our banking definitions page for more terminology.

Explore more resources

Remote Deposit Capture (RDC) eBook

Remote deposit capture (RDC) ranks as a significant feature of modern banking. In fact, a San Global Research industry report projects the RDC market to grow at a compounded rate of 5.8% through 2032. As the banking industry continues its digital...
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AccuAccount: Solution Overview Brochure

Track and manage every loan document in one system and streamline loan management from application through servicing with our core-integrated software platform. From loan application automation, to drag-and-drop document imaging, to document tracking, and five...
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