Loan Interviewers and Clerks
SOC: 43-4131.00

Description:

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


National Salary Information:

Hourly Statistics:

Annual Statistics:

Source: Bureau of Labor Statistics 2015 wage data.


Employment Projections:

Employment (2014):
213,800 employed

Projected (2024):
232,300 employed

Projected growth (2014-2024)


Source: Bureau of Labor Statistics 2015 2014-2024 employment projections external site. "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.


Alternate Titles:

  • Administrative Assistant
  • Closer
  • Closing Agent
  • Closing Coordinator
  • Credit Clerk
  • Disbursement Clerk
  • Document Coordinator
  • Document Processor
  • Eligibility Clerk
  • Funding Specialist
  • Investigator
  • Loan Analyst
  • Loan Assistant
  • Loan Clerk
  • Loan Closer
  • Loan Coordinator
  • Loan Counselor
  • Loan Documentation Specialist
  • Loan Expediter
  • Loan Inspector
  • Loan Interviewer
  • Loan Officer
  • Loan Originator
  • Loan Processing Supervisor
  • Loan Processor
  • Loan Representative
  • Loan Secretary
  • Mortgage Broker
  • Mortgage Clerk
  • Mortgage Closing Clerk
  • Mortgage Loan Closer
  • Mortgage Loan Interviewer
  • Mortgage Loan Officer
  • Mortgage Loan Processing Clerk
  • Mortgage Loan Processor
  • Mortgage Processing Clerk
  • Mortgage Processor
  • Mortgage Underwriter
  • Office Manager
  • Opener
  • Post Closer
  • Processing Manager
  • Processor
  • Production Assistant
  • Retail Mortgage Processor
  • Sales Support Specialist
  • Title Processor
  • Underwriter


  • Job Zone Three: Medium Preparation Needed

    Experience:

    Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.

    Education:

    Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.

    Job Training:

    Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.


    Required Skills:

  • Reading Comprehension
  • Active Listening
  • Writing
  • Speaking
  • Mathematics
  • Critical Thinking
  • Active Learning
  • Learning Strategies
  • Monitoring
  • Social Perceptiveness
  • Coordination
  • Persuasion
  • Negotiation
  • Instructing
  • Service Orientation
  • Complex Problem Solving
  • Operations Analysis
  • Technology Design
  • Programming
  • Operation Monitoring
  • Judgment and Decision Making
  • Systems Analysis
  • Systems Evaluation
  • Time Management
  • Management of Financial Resources
  • Management of Personnel Resources

  • Knowledge Used:

  • Administration and Management
  • Clerical
  • Economics and Accounting
  • Sales and Marketing
  • Customer and Personal Service
  • Personnel and Human Resources
  • Production and Processing
  • Computers and Electronics
  • Building and Construction
  • Mechanical
  • Mathematics
  • Psychology
  • Geography
  • Education and Training
  • English Language
  • Public Safety and Security
  • Law and Government
  • Telecommunications
  • Communications and Media
  • Transportation


  • Tasks:

  • Verify and examine information and accuracy of loan application and closing documents.
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.
  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Answer questions and advise customers regarding loans and transactions.
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Present loan and repayment schedules to customers.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Check value of customer collateral to be held as loan security.
  • Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
  • File and maintain loan records.
  • Schedule and conduct closings of mortgage transactions.
  • Accept payment on accounts.
  • Submit loan applications with recommendation for underwriting approval.
  • Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
  • Establish credit limits and grant extensions of credit on overdue accounts.

  • Tools & Technology:

  • Computer inkjet printers
  • Copy machines
  • Document scanners
  • Laptop computers
  • Laser facsimile machines
  • Personal computers
  • Printing calculators
  • Automated financial software
  • Automated underwriting software
  • Credit reporting software
  • Desktop publishing software
  • Desktop Underwriter
  • Lending software systems
  • Loan tracking software
  • Microsoft Excel
  • Microsoft Office software
  • Microsoft Outlook
  • Microsoft PowerPoint
  • Microsoft Word
  • Rockport Integrated Excel Underwriting
  • Software AG Underwriting Solution
  • Web browser software


  • office and administrative support


    industry stats

    SOC: 43-0000

    Total Employed: 21,846,420

    Average Annual Salary: $36,330