Loan processors need to be incredibly exacting in the work that they carry out, so any job application should contain a healthy dose of their precise and calculating nature. These personality traits can sometimes be difficult to convey in a job application, but the cover letter is the perfect place to offer a more complete picture. What lies behind those impressive numbers? How do they manage difficult clients and handle emotionally charged situations? In this loan processor cover letter example and writing guide, we look at:
- The best cover letter format for a loan processor’s needs.
- How to structure the header, middle part, and end of the letter.
- Which parts of your loan processor experience to include in each section.
- Potential mistakes to avoid – after all, precision is the name of the game.
When you are embarking on a job search, you should do your homework – our list of 180+ occupation-specific cover letter examples may offer useful ideas.
Best format for a loan processor cover letter
You won’t have a huge amount of space to talk about your loan processing successes, so which parts of your career you include in which section can make all the difference. Make sure that every example is relevant to the role and let aspects of your personality shine through your stories. Share your magic formulae for loan processing success.
There is no reason to depart from the normal conventions of cover letter structure:
- Cover letter header
- Greeting / salutation
- Cover letter intro
- Middle paragraphs (body of the letter)
- Conclusion of your cover letter
Our comprehensive cover letter guide brings together a wide range of advice in terms of style and language that you might want to deploy in your loan processor cover letter. It is not easy to choose which words to write when you only have 300-350, so soak up all the advice that you can to assist your creativity.
This loan processor cover letter example may offer a few initial ideas:
Dear Ms. Wingsley,
Having worked for the Langdon Credit Union as a loan processor for the past four years, I would like to bring my financial acumen and customer care skills to Oakmount.
Helping customers secure the best loan deal involves observing banking protocols while factoring in human circumstances where possible. My customers had the lowest levels of bad debt (from a team of 17 loan processors) because we worked together in terms of affordability and repayment terms. A record 23 percent were repeat borrowers.
Researching a borrower’s situation and liaising with underwriters requires a patient and dispassionate approach. My record loan approval numbers meant that I received a disproportionately high number of speculative applications and, in percentage terms, I declined more than any other processor. As an analytically-minded person, the numbers have to stack up.
As someone with mild autism, I have a keen eye for numbers and always seek to double-check all documentation and credit reports. My keying accuracy was 99.97% on all financial documents. I enjoy exploring the detail that is involved in making every decision and feel positive about every successful case.
I have a bachelor’s degree in finance from University of Miami and am a Certified Financial Management Professional. I am well-practiced in all major software, including i-Loan, LIMS and Loan Manager. I would be delighted to meet for an interview to discuss the needs of Oakmount and how my expertise may play a role.
Sincerely,
Peter Gateyard
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Cover letter header
The loan processor cover letter header should be as precise as any loan application. Your contact details should be all present and correct – full name, email and mobile number. Double check them – a mistake will be the death knell for your application.
You are not expected to include your full home address at this stage – sadly, there are discrimination and data protection issues. Share the full address at the offer stage. If you want to follow convention (and in your career, you should), then you should include the inside address of your employer. Other professionals may choose not to include it. The header from our cover letter example and show you how to perfect your own.
Cover letter greeting
You might think that getting the greeting of a cover letter is not too difficult, but if you do not know to whom the letter should be addressed, then it throws up a conundrum. Do you opt for a friendly “Dear Company team” opening or do you try to find out the name of the hiring manager? If it is not in the job description or any email correspondence, then you might have trouble finding out.
If you do know their name, spell it correctly and start with a traditional “Dear Mr. / Mrs. / Ms. Last Name.” See the greeting of our cover letter sample below.
Dear Ms. Wingsley,
Cover letter introduction
Every loan processor should be proud of their loan completion rates, sales ratios and operational efficiency, so the introduction of their cover letter should hint at the deluge of quantifiable success that is to come in their career story. There is no hiding for a loan processor – the numbers either support your proficiency or they don’t. Share an example in your introduction that is likely to be repeated in your future role. Get more insight from the introduction of our cover letter sample:
Having worked for the Langdon Credit Union as a loan processor for the past four years, I would like to bring my financial acumen and customer care skills to Oakmount.
Cover letter middle part (body)
In the middle part of the cover letter, you have a chance to expand on a couple more loan processing examples. Make sure that you stick to the types of loan that you will be processing with your new employer and try to pick out some examples of the most difficult cases to demonstrate your experience. Try to mirror the language of your future employer from the job description – you want to sound like one of the team.
Rather than describing yourself with subjective adjectives, pick examples that demonstrate your work ethic, reliability, precision and willingness to go the extra mile for your clients. At the end of the day, you are there to facilitate their various projects as well as ensure a financial benefit for your employer. Check out the body of our adaptable cover letter example here:
Helping customers secure the best loan deal involves observing banking protocols while factoring in human circumstances where possible. My customers had the lowest levels of bad debt (from a team of 17 loan processors) because we worked together in terms of affordability and repayment terms. A record 23 percent were repeat borrowers.
Researching a borrower’s situation and liaising with underwriters requires a patient and dispassionate approach. My record loan approval numbers meant that I received a disproportionately high number of speculative applications and, in percentage terms, I declined more than any other processor. As an analytically-minded person, the numbers have to stack up.
As someone with mild autism, I have a keen eye for numbers and always seek to double-check all documentation and credit reports. My keying accuracy was 99.97% on all financial documents. I enjoy exploring the detail that is involved in making every decision and feel positive about every successful case.
How to end a loan processor cover letter (conclusion & sign-off)
The end of a loan processor cover letter should finish with one last impressive statistic to showcase your financial prowess. The hiring manager will be most likely to remember your final argument, so make sure that you end on a high.
The only thing left to do is to mention just how much you are looking forward to finding out more about the role and to say that you hope to have the chance to meet at the interview. Adopt a hopeful rather than expectant tone. This is standard cover letter etiquette, so if you don’t include this call-to-action, the hiring manager may doubt your desire. See the ending of our loan processor cover letter sample below.
I have a bachelor’s degree in finance from University of Miami and am a Certified Financial Management Professional. I am well-practiced in all major software, including i-Loan, LIMS and Loan Manager. I would be delighted to meet for an interview to discuss the needs of Oakmount and how my expertise may play a role.
Sincerely,
Peter Gateyard
Avoiding basic mistakes in a loan processor cover letter
You would not expect to make any mistakes on a loan application on behalf of a client, so avoid these most basic of mistakes in your cover letter:
- Poor spelling and grammar. You might not write extensively in your role, but use this online grammar and spelling checker to catch the major issues.
- Improper tone. Stick to a formal tone for the cover letter – don’t run the risk of being too conversational. Speak as if you would to a superior at work.
- Too wordy. Make sure that you manage to keep your career story to one page. You will have much more to tell; but leave it until the interview.
The visual impact of a cover letter hits home much in the same way as a client walking into the meeting room. You make a snap judgment about how they look. Go with a professional template with a simple layout from one of our cover letter templates.
Key takeaways
- Share some of your proudest career moments – with quantifiable context.
- Ensure that each loan processing example is relevant to your future job.
- Mirror the language from the job description – you want to fit in.
- Put numbers and financial successes at the very heart of the cover letter
- Check out our adaptable loan processor cover letter sample for more ideas on creating a great page design.
