Sample interview questions: Have you ever had to recommend declining a loan application? How did you handle the situation?
Sample answer:
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Approach with empathy: Understand that loan rejection can be discouraging and approach the situation with empathy and understanding.
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Communicate promptly: Don’t delay the communication. Inform the applicant about the decision as soon as the decision is made.
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Provide a clear explanation: Offer a clear and concise explanation of the reasons for declining the loan application. This may include factors such as insufficient credit history, unfavourable credit score, debt-to-income ratio, or insufficient collateral.
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Maintain professionalism: Conduct the conversation in a prof… Read full answer