mortgage jobs and career

Mortgage interview questions

Hello Job Aspirants

If you are in this page, you probably have interview coming up in a mortgage company soon. In this article, we have compiled list of mortgage interview questions, which are highly likely to be asked by interviewer. This mortgage process interview questions is based on feedback on recent interviews, surveys and testimonials from mortgage jobs aspirants. This is based on US mortgage interview questions, but can be easily used in other countries as well.

Now, before you start checking mortgage interview questions, you may be interested in looking for different types of mortgage job profiles. This article on jobs and career in mortgage industry will definitely help you understand working and career profile in this industry and what will be expected out of you in different roles.

Mortgage process interview questions

Here is updated list of interview questions asked during interview process in mortgage domain in US and other countries.

  • How do you calculate a client’s income?
  • How would you bring in business when the market is dry?
  • What are three skills you think a good loan officer should have?
  • What sets you apart from other loan officers?
  • What is your experience level with reviewing and filing loans?
  • How proficient are you with Loan Prospector (LP) and Desktop Underwriter (DU)?
  • As a loan processor, how would you spend your work day? Take us through an average day at work.
  • When reviewing a loan, what areas would you be most concerned with?
  • Tell me about a time where you suggested a new mortgage structure. What led to your decision?
  • What is risk layering?
  • What do you look for when analyzing an applicant’s credit? Walk me through your process.
  • How is risk assessment calculated?
  • Tell me about a time you discovered a risky applicant. How did you handle it?
  • Tell me about a time where you had to service a difficult customer. What did you do?
  • Describe a time you went above and beyond for a customer.
  • What do you feel makes for a good customer experience?
  • What led you to pursue a career in loan processing?
  • How have your previous positions prepared you for this role?
  • What experience do you have with processing loans?
  • What are three important skills you think a loan processor should have?
  • How do you maintain high attention to detail?
  • What loan software programs do you have experience with?
  • What is your favorite part of being a loan processor?
  • What was the most challenging loan application you ever worked on?
  • What types of loans do you have the most experience with?
  • Have you ever faced an upset client? How did you handle the situation?
  • What strategies do you use to evaluate a client’s credit?
  • What documents do you require before processing a loan?
  • How would you explain the different types of mortgages to a potential customer?
  • What step in the loan processing do you experience the most delays, and how do you work to reduce them?
  • What lenders do you have experience with?
  • On a scale of one to ten, how comfortable are you with national mortgage guidelines?
  • What experience do you have with Desktop Originator?
  • What are the minimum credit scores required for a mortgage?
  • How many loan files have you processed at one time?

How to prepare for Mortgage job interview

As you can see from the list of mortgage process interview questions, there are two main things which a mortgage company will be checking from you.

  1. Your financial basics knowledge
  2. Your client servicing experience

You may need to brush up your financial literacy knowledge from books on basic finance, covering investment finance, risk management etc. These will help you in covering up required concepts, terminology, financial calculations etc which will be required in your job.

Client servicing in mortgage industry comes under soft skills, and your experience in handling different types of scenarios including different client requirement, different level of complexity of mortgage etc. The more tough clients you have handled, more you will be comfortable in taking up new challenge.

Conclusion

In this article, we have covered most recent mortgage job interview questions, and provided you tips to prepare for the mortgage interview process. If you have any doubt regarding interview preparation, you can connect you via email (rakesh@xamnation.com)

In case you are looking for dedicated interview preparation help for mortgage industry, you may reach out to us. We have experienced professionals from mortgage industry, who will be happy to guide you on your interview preparation, take up mock interviews and give required tips to succeed in the upcoming interview.

See Also: Coaching for mortgage job preparation

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