Loan Interviewers and Clerks
O*NET files this work under Loan Interviewers and Clerks: people who 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. The skills rated most useful are active listening, speaking, and reading comprehension. Expect to interview loan applicants to obtain personal and financial data and to assist in completing applications. Interest ratings put Conventional on top at 6.9 out of 7 and Enterprising second, so the code is CES and the day leans toward orderly work with data, records and clear procedures. Getting in usually takes one or two years of vocational training, an apprenticeship or an associate’s degree, a level O*NET calls medium preparation. People who want orderly work with data, records and clear procedures usually fit better here than those who need hands-on work with tools, machines or the physical world.
What they do
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.
Main tasks
- Interview loan applicants to obtain personal and financial data and to assist in completing applications.
- Answer questions and advise customers regarding loans and transactions.
- Submit loan applications with recommendation for underwriting approval.
- Verify and examine information and accuracy of loan application and closing documents.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- Check value of customer collateral to be held as loan security.
Skills
- Active Listening
- Speaking
- Reading Comprehension
- Critical Thinking
- Writing
- Complex Problem Solving
Who this career fits
May suit you if
- You like clear rules and getting the details right.
- You like taking the lead and making the call.
- You are willing to put in a year or two of focused training.
- You are comfortable relying on active listening and speaking.
May not suit you if
- You get restless with routine, records and exact procedures.
- You want to work with your hands for most of the day. Realistic rates 1.0 out of 7 here.
- You need to start within a few months, with no training period.
Interest profile
O*NET rates each occupation from 1 to 7 on six interest types. The code CES takes the three highest, and Conventional comes first here.
Preparation
Medium preparation. Expect vocational school, an apprenticeship, related experience or an associate’s degree, usually one or two years in total.
Most-reported requirement in the O*NET survey: High School Diploma or the equivalent (such as a GED). This reflects what workers reported most often and is not a legal minimum. Licensing rules can differ by state or industry, so confirm what applies where you plan to work.
Also called
- Licensed Loan Officer Assistant
- Loan Analyst
- Loan Assistant
- Loan Clerk
- Loan Originator
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This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA.