Loan interviewers and clerks Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to the appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of the loan.

  • Verify and examine information and accuracy of loan application and closing documents.
  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Submit loan applications with recommendation for underwriting approval.
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
  • File and maintain loan records.
  • Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
  • Check value of customer collateral to be held as loan security.
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Answer questions and advise customers regarding loans and transactions.
  • Present loan and repayment schedules to customers.
  • Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
  • Accept payment on accounts.
  • Schedule and conduct closings of mortgage transactions.
  • Establish credit limits and grant extensions of credit on overdue accounts.
Work Context
  • Telephone — 100% responded "Every day".
  • Contact With Others — 98% responded "Constant contact with others".
  • Indoors, Environmentally Controlled — 98% responded "Every day".
  • Deal With External Customers — 73% responded "Extremely important".
  • Importance of Being Exact or Accurate — 71% responded "Extremely important".
  • Spend Time Sitting — 70% responded "Continually or almost continually".
  • Face-to-Face Discussions — 69% responded "Every day".
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Work Activities
  • Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Performing for or Working Directly with the Public — Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
  • Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
  • Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
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Detailed Work Activities
  • Verify accuracy of financial or transactional data.
  • Interview employees, customers, or others to collect information.
  • Compile data or documentation.
  • Discuss account status or activity with customers or patrons.
  • Provide notifications to customers or patrons.
  • Maintain financial or account records.
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Knowledge

Customer and Personal Service
  • Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
English Language
  • Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Clerical
  • Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
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Skills

Active Listening
  • Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking
  • Talking to others to convey information effectively.
Reading Comprehension
  • Understanding written sentences and paragraphs in work related documents.
Critical Thinking
  • Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
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Abilities

Oral Comprehension
  • The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension
  • The ability to read and understand information and ideas presented in writing.
Oral Expression
  • The ability to communicate information and ideas in speaking so others will understand.
Speech Recognition
  • The ability to identify and understand the speech of another person.
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Personality

People interested in this work like activities that include ideas, thinking, and figuring things out.
They do well at jobs that need:
  • Achievement/Effort
  • Persistence
  • Initiative
  • Leadership
  • Cooperation
  • Concern for Others
  • Social Orientation
  • Self Control
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Technology

You might use software like this on the job:

Word processing software
  • Microsoft Word Hot Technology
Operating system software
  • Microsoft Windows Hot Technology
Presentation software
  • Microsoft PowerPoint Hot Technology
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Education

High School Diploma or
Bachelor's Degree
usually needed

Get started on your career:

Job Outlook

New job opportunities are very likely in the future.
Salary
$41,370
$27,350
$61,360