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.
Common Job Titles
- Licensed Loan Officer Assistant
- Loan Analyst
- Loan Processor
- Mortgage Loan Processor
What You'll Need to Succeed
AI-generatedKey competencies for this occupation at a glance
- KnowledgeEvaluate loan application completeness and compliance with lending standards using automated underwriting software and credit reporting systems.Proficient
- KnowledgeInterpret financial documents, credit reports, and loan agreement terms for applicants and stakeholders to facilitate informed decision-making.Proficient
- KnowledgeOrganize loan documentation, verification materials, and appraisal reports following established administrative workflows and timelines.Proficient
- MindsetBalance organizational lending standards with customer service responsiveness when negotiating loan terms and resolving application issues.Proficient
- KnowledgeCoordinate loan closing transactions among borrowers, sellers, and lending institutions following loan approval and ensuring all documentation requirements are met.Proficient
- KnowledgeAnalyze applicant financial information, credit history, and background data to determine creditworthiness and risk factors.Developing
- MindsetEngage with loan applicants to elicit detailed financial and personal information while maintaining professional client relationships and service orientation.Developing
- KnowledgeApply lending regulations and government compliance requirements when processing loan documentation and verifying applicant references.Developing
- MindsetRespond to customer concerns and questions regarding loan processes and requirements using active listening and clear communication in service-oriented interactions.Developing
- KnowledgeOperate loan origination and tracking software systems to process applications, maintain accurate records, and coordinate between borrowers and loan departments.Developing
- KnowledgeCompare applicant-provided information against verified documentation and reference checks to identify discrepancies and ensure data accuracy.Developing
- KnowledgePrepare comprehensive loan request reports and findings for appraisal review using Microsoft Office suite and specialized lending software.Developing
Wage Data According to the Bureau of Labor Statistics
Annual wage data for Loan Interviewers and Clerks (2024)
Estimated Total Employment (U.S.)
173,100
Wage Distribution by Percentile
Line chart of annual wages by percentile. U.S. is the solid line. 10th percentile: U.S. $36,360. 25th percentile: U.S. $42,720. 50th percentile: U.S. $48,950. 75th percentile: U.S. $59,520. 90th percentile: U.S. $65,910. Use the left and right arrow keys to move between percentiles.
- U.S.
| Metric | U.S. |
|---|---|
| 10% of workers earn the following or less | $36,360 |
| 10% of workers earn the following or more | $65,910 |
| Workers on average earn | $51,050 |
+ indicates wage is at or above the BLS reporting cap ($239,200/year)
Skills & Requirements
Key competencies for this occupation, ranked by importance
- Customer and Personal Service4.4/5
- English Language4.2/5
- Administrative3.7/5
- Computers and Electronics3.4/5
- Law and Government3.4/5
Tools & Technology
Equipment and software commonly used in this occupation
In-Demand Technology
Frequently requested by employers in job postings
- Microsoft Access
- Microsoft Dynamics
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Windows
- Microsoft Word
Technology Skills
- Accounting software
- Automated financial software
- Automated underwriting software
- Credit reporting software
- Desktop publishing software
- Encompass software
- Fannie Mae Desktop Underwriter
- Lending software systems
Tools & Equipment
- Computer inkjet printers
- Copy machines
- Document scanners
- Laptop computers
- Laser facsimile machines
- Personal computers
- Printing calculators