Loan Interviewers and Clerks

Description

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.

Tasks

  • Verify and examine information and accuracy of loan application and closing documents.
  • Interview loan applicants in order to obtain personal and financial data, and to assist in completing applications.
  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Answer questions and advise customers regarding loans and transactions.
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Present loan and repayment schedules to customers.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Check value of customer collateral to be held as loan security.
  • Contact credit bureaus, employers, and other sources in order to check applicants' credit and personal references.
  • File and maintain loan records.
  • Schedule and conduct closings of mortgage transactions.
  • Accept payment on accounts.
  • Submit loan applications with recommendation for underwriting approval.
  • Order property insurance or mortgage insurance policies in order to ensure protection against loss on mortgaged property.
  • Review customer accounts in order 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.

Skills

Equipment Selection
Determining the kind of tools and equipment needed to do a job.
Quality Control Analysis
Conducting tests and inspections of products, services, or processes to evaluate quality or performance.
Science
Using scientific rules and methods to solve problems.
Operation and Control
Controlling operations of equipment or systems.
Installation
Installing equipment, machines, wiring, or programs to meet specifications.
Equipment Maintenance
Performing routine maintenance on equipment and determining when and what kind of maintenance is needed.
Troubleshooting
Determining causes of operating errors and deciding what to do about it.
Repairing
Repairing machines or systems using the needed tools.
Management of Material Resources
Obtaining and seeing to the appropriate use of equipment, facilities, and materials needed to do certain work.

Abilities

Manual Dexterity
The ability to quickly move your hand, your hand together with your arm, or your two hands to grasp, manipulate, or assemble objects.
Control Precision
The ability to quickly and repeatedly adjust the controls of a machine or a vehicle to exact positions.
Wrist-Finger Speed
The ability to make fast, simple, repeated movements of the fingers, hands, and wrists.
Sound Localization
The ability to tell the direction from which a sound originated.
Speed of Limb Movement
The ability to quickly move the arms and legs.
Reaction Time
The ability to quickly respond (with the hand, finger, or foot) to a signal (sound, light, picture) when it appears.
Rate Control
The ability to time your movements or the movement of a piece of equipment in anticipation of changes in the speed and/or direction of a moving object or scene.
Response Orientation
The ability to choose quickly between two or more movements in response to two or more different signals (lights, sounds, pictures). It includes the speed with which the correct response is started with the hand, foot, or other body part.
Multilimb Coordination
The ability to coordinate two or more limbs (for example, two arms, two legs, or one leg and one arm) while sitting, standing, or lying down. It does not involve performing the activities while the whole body is in motion.
Arm-Hand Steadiness
The ability to keep your hand and arm steady while moving your arm or while holding your arm and hand in one position.

Interests

Conventional
Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Enterprising
Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Social
Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
Realistic
Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.
Investigative
Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Artistic
Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.

Work Style

Dependability
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Attention to Detail
Job requires being careful about detail and thorough in completing work tasks.
Integrity
Job requires being honest and ethical.
Cooperation
Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Initiative
Job requires a willingness to take on responsibilities and challenges.
Self Control
Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Stress Tolerance
Job requires accepting criticism and dealing calmly and effectively with high stress situations.
Analytical Thinking
Job requires analyzing information and using logic to address work-related issues and problems.
Adaptability/Flexibility
Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Independence
Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.

Work Values

Relationships
Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Support
Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.
Achievement
Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Recognition
Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Working Conditions
Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Independence
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.

Lay Titles

Administrative Assistant
Closer
Closing Agent
Closing Coordinator
Credit Clerk
Disbursement Clerk
Document Coordinator
Document Processor
Eligibility Clerk
Funding Specialist
Investigator
Loan Analyst
Loan Assistant
Loan Clerk
Loan Closer
Loan Coordinator
Loan Counselor
Loan Expediter
Loan Inspector
Loan Officer
Loan Originator
Loan Processing Supervisor
Loan Processor
Loan Representative
Loan Secretary
Mortgage Broker
Mortgage Clerk
Mortgage Closing Clerk
Mortgage Loan Closer
Mortgage Loan Interviewer
Mortgage Loan Officer
Mortgage Loan Processor
Mortgage Processing Clerk
Mortgage Processor
Mortgage Underwriter
Office Manager
Opener
Post Closer
Processing Manager
Processor
Production Assistant
Retail Mortgage Processor
Sales Support Specialist
Underwriter

National Wages and Employment Info

Median Wages (2008):
$16.98 hourly, $35,310 annual.
Employment (2008):
192,010 employees