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.
SOC: 43-4131.00
Common Job Titles
Licensed Loan Officer AssistantLoan AnalystLoan ProcessorMortgage 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
| 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 AccessMicrosoft DynamicsMicrosoft ExcelMicrosoft Office softwareMicrosoft OutlookMicrosoft PowerPointMicrosoft WindowsMicrosoft Word
Technology Skills
Accounting softwareAutomated financial softwareAutomated underwriting softwareCredit reporting softwareDesktop publishing softwareEncompass softwareFannie Mae Desktop UnderwriterLending software systems
Tools & Equipment
Computer inkjet printersCopy machinesDocument scannersLaptop computersLaser facsimile machinesPersonal computersPrinting calculators