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43-4131.00 - 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 appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.


Key Facts
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Bright Outlook
Career Details
Green Job
Career Details
Current Employment
213,800
Estimate
Forecasted Employment
232,300
Estimate
Change in Employment
+18,500
Estimate
Change in Employment %
+8.6%
Estimate
Tasks
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Tasks
The tasks listed below can be performed to prepare you for a career in this field.
Core
  • 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.
  • Submit loan applications with recommendation for underwriting approval.
  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
Supplemental
  • Schedule and conduct closings of mortgage transactions.
  • Accept payment on accounts.
  • Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
  • Establish credit limits and grant extensions of credit on overdue accounts.
All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.
Knowledge
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Knowledge

The items listed below are organized into sections that contain knowledge useful for pursuing a career in this field. Each section also contains a "Percentage of Importance" statistic that shows how relevant an item is to the occupation.
 Customer and Personal Service
  • 88%
    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
  • 84%
    Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
 Clerical
  • 74%
    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.
 Computers and Electronics
  • 68%
    Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
 Law and Government
  • 68%
    Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
 Mathematics
  • 67%
    Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
 Administration and Management
  • 58%
    Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
 Education and Training
  • 57%
    Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
 Sales and Marketing
  • 56%
    Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
 Economics and Accounting
  • 55%
    Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.
Tools
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Tools
The tools listed below include machines, equipment, tools, and software that is useful for individuals who are interested in this career.
 Computers
  • Laptop computers
  • Personal computers
 Computer data input devices
  • Document scanners
 Computer printers
  • Computer inkjet printers
 Duplicating machines
  • Copy machines
  • Laser facsimile machines
 Calculating machines and accessories
  • Printing calculators
All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.
Technology
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Technology
The technologies listed below include machines, equipment, tools, and software that is useful for individuals who are interested in this career.
 Business function specific software
  • Microsoft OfficeHOT
 Finance accounting and enterprise resource planning ERP software
  • Automated financial software
  • Automated underwriting software
  • Credit reporting software
  • Desktop Underwriter
  • Lending software systems
  • Software AG Underwriting Solution
 Content authoring and editing software
  • Microsoft WordHOT
  • Microsoft PowerPointHOT
  • Microsoft ExcelHOT
  • Rockport Integrated Excel Underwriting
  • Desktop publishing software
 Data management and query software
  • Loan tracking software
  • Microsoft DynamicsHOT
 Network applications software
  • Web browser software
 Operating environment software
  • Microsoft WindowsHOT
 Information exchange software
  • Microsoft OutlookHOT
All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.
Certifications
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Certifications
The certifications listed below are useful to pursue if you are interested in a career in this field.
 Specialty
 Advanced
 Core
All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.
Licensing
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Licensing
The licensing information below is organized into sections and is useful for pursuing if you are interested in a career in this field.
No specific licensing information is listed for this occupation in the area you have selected.
All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.
Related Programs
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Programs related to this career, offered by participating institution(s), are listed below.

Clicking on the Degree programs in the list below will take you away from the Careers page.
INSTITUTION
PROGRAMS
Peirce College
 Programs
Jobs
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Jobs related to this career may be found on Indeed.com or on the Google Job Search page.