A credit officer is an employee or a person who lends money in a financial institution. Lending is not giving money as people think. In giving, people do not return what was given. But, in lending people return what was borrowed together with accrued interest.
So where does the life of a credit officer begin? It starts when the loan process begins. Lending is a process. It begins when a person, in this case a customer, visits a financial institution in need of a loan. I will talk on types of loans or loan products later.
When a person visits credit desk the loan officer firsts listens what the visitor want. At this point much happen which the visitors do not know. One, the officer not only listens but also collects basic information of the visitor. How the visitor expresses himself or herself is important to a credit officer. The words and composure of the visitor is vital.
Single ladies are the worst to lend. If the loan officer is a male thoughtfulness is needed. If boundaries will not be set the visitor may turn to be a girlfriend. The fact is girlfriends do not pay borrowed money. If the officer will not pay the loan, then it may reach write-off stage. I will tell you what is write-off when I will be talking about loan classification.
Let us meet in the next nugget of the life of a credit officer
So where does the life of a credit officer begin? It starts when the loan process begins. Lending is a process. It begins when a person, in this case a customer, visits a financial institution in need of a loan. I will talk on types of loans or loan products later.
When a person visits credit desk the loan officer firsts listens what the visitor want. At this point much happen which the visitors do not know. One, the officer not only listens but also collects basic information of the visitor. How the visitor expresses himself or herself is important to a credit officer. The words and composure of the visitor is vital.
This is where the officer learns where the visitor comes from, tribe, religious background, marital status among other factors. These factors are important in that there are places where people do not pay loans or they pay after being pushed. Two, some tribes do not pay the amount they borrow very well. People from such tribes are lent when there is pressure to lend more. I will tell you when a credit officer lends bad loans. Three, some religious people do not pay loan as agreed and they associate poor payment with Satan. Lastly, marital status is very key. Married people are responsible compared to single ones. Single people are the hardest to deal with as a credit officer. They can move from one place to another overnight. If the visitor has a broken family expect major problem with loan repayment.
Single ladies are the worst to lend. If the loan officer is a male thoughtfulness is needed. If boundaries will not be set the visitor may turn to be a girlfriend. The fact is girlfriends do not pay borrowed money. If the officer will not pay the loan, then it may reach write-off stage. I will tell you what is write-off when I will be talking about loan classification.
Let us meet in the next nugget of the life of a credit officer
