Loan Interviewer / Clerk

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.

O*NET reports this occupation under titles such as: Licensed Loan Officer Assistant; Loan Analyst; Loan Assistant; Loan Clerk; Loan Originator; Loan Processor; Loan Representative; Mortgage Broker; Mortgage Loan Processor; Mortgage Processor

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.
• Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
• Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
• Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
• Accept payment on accounts.
• Present loan and repayment schedules to customers.
• Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
• Schedule and conduct closings of mortgage transactions.
• 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.

Knowledge

• Customer and Personal Service
• English Language
• Administrative
• Computers and Electronics
• Mathematics
• Law and Government

Skills

• Active Listening
• Speaking
• Reading Comprehension
• Critical Thinking
• Writing
• Active Learning
• Mathematics
• Monitoring

Abilities

• Oral Comprehension
• Written Comprehension
• Oral Expression
• Speech Recognition
• Speech Clarity
• Problem Sensitivity
• Information Ordering
• Near Vision
• Written Expression
• Deductive Reasoning
• Inductive Reasoning
• Mathematical Reasoning
• Selective Attention
• Fluency of Ideas
• Category Flexibility
• Number Facility