Loan Interviewers and Clerks

What the job really is

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.

At a glance

• Sector: Office & Administrative
• O*NET-SOC code: 43-4131
• O*NET job zone: 3 — medium preparation
• Work sample tasks on file: 12
• Tools and technologies listed: 12

What you actually do

Work sample tasks recorded for this occupation:

• Verify and examine information and accuracy of loan application and closing documents.
• Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
• Record applications for loan and credit, loan information, and disbursements of funds, using computers.
• Submit loan applications with recommendation for underwriting approval.
• Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
• File and maintain loan records.
• Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
• Check value of customer collateral to be held as loan security.
• Interview loan applicants to obtain personal and financial data and to assist in completing applications.
• Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
• Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
• Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.

Tools and technology

Microsoft Access, Microsoft Excel, Microsoft Office software, Microsoft Outlook, Microsoft PowerPoint, Microsoft Windows, Microsoft Word, Accounting software, Automated financial software, Automated underwriting software, Computer inkjet printers, Copy machines

What employers expect you to already be comfortable with.

Where this job leads

Related occupations — the usual moves up and sideways:

• Loan Officers
• Credit Authorizers, Checkers, and Clerks
• Credit Analysts
• Credit Counselors
• Bill and Account Collectors
• Bookkeeping, Accounting, and Auditing Clerks
• New Accounts Clerks
• Brokerage Clerks

Getting in

O*NET assigns this occupation job zone 3 (medium preparation). The related occupations above are the realistic routes in and out.

Find openings

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Check this against the source

O*NET OnLine: Loan Interviewers and Clerks — the authoritative public-domain profile this page is derived from, including the full task list, reported skills and the wage estimates for your region.

Derived and rewritten from the public-domain O*NET database (U.S. Department of Labor / Employment and Training Administration). Figures are observations, not promises — always confirm salary, licensing and visa requirements with the employer and the relevant authority.