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Loan Interviewers and Clerks

It's a bright outlook for

This career will grow rapidly in the next few years.

Learn more about what they do.

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.

Related: Bill & Account Collectors Credit Analysts Credit Authorizers, Checkers, & Clerks Credit Counselors Loan Officers

Industries: Finance & Insurance

Summary
Details

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.
Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
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.
Establish credit limits and grant extensions of credit on overdue accounts.
Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
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.
Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
Submit loan applications with recommendation for underwriting approval.
File and maintain loan records.
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.
Accept payment on accounts.
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.
Answer questions and advise customers regarding loans and transactions.
Verify and examine information and accuracy of loan application and closing documents.
Present loan and repayment schedules to customers.

Judgment and Decision Making
- Thinking about the pros and cons of different options and picking the best one.
Operations Analysis
- Figuring out what a product or service needs to be able to do.
Complex Problem Solving
- Noticing a problem and figuring out the best way to solve it.
Science
- Using scientific rules and strategies to solve problems.
Operations Monitoring
- Watching gauges, dials, or display screens to make sure a machine is working.
Programming
- Writing computer programs.
Time Management
- Managing your time and the time of other people.
Negotiation
- Bringing people together to solve differences.
Writing
- Writing things for co-workers or customers.
Operation and Control
- Using equipment or systems.
Monitoring
- Keeping track of how well people and/or groups are doing in order to make improvements.
Equipment Maintenance
- Planning and doing the basic maintenance on equipment.
Coordination
- Changing what is done based on other people's actions.
Instructing
- Teaching people how to do something.
Mathematics
- Using math to solve problems.
Equipment Selection
- Deciding what kind of tools and equipment are needed to do a job.
Troubleshooting
- Figuring out what is causing equipment, machines, wiring, or computer programs to not work.
Social Perceptiveness
- Understanding people's reactions.
Quality Control Analysis
- Testing how well a product or service works.
Persuasion
- Talking people into changing their minds or their behavior.
Active Learning
- Figuring out how to use new ideas or things.
Learning Strategies
- Using the best training or teaching strategies for learning new things.
Management of Financial Resources
- Making spending decisions and keeping track of what is spent.
Management of Personnel Resources
- Selecting and managing the best workers for a job.
Service Orientation
- Looking for ways to help people.
Installation
- Installing equipment, machines, wiring, or computer programs.
Management of Material Resources
- Managing equipment and materials.
Speaking
- Talking to others.
Active Listening
- Listening to others, not interrupting, and asking good questions.
Technology Design
- Making equipment and technology useful for customers.
Repairing
- Repairing machines or systems using the right tools.
Systems Analysis
- Figuring out how a system should work and how changes in the future will affect it.
Reading Comprehension
- Reading work-related information.
Critical Thinking
- Thinking about the pros and cons of different ways to solve a problem.
Systems Evaluation
- Measuring how well a system is working and how to improve it.

Speech Clarity
- Speaking clearly.
Time Sharing
- Doing two or more things at the same time.
Perceptual Speed
- Quickly comparing groups of letters, numbers, pictures, or other things.
Speed of Closure
- Quickly knowing what you are looking at.
Wrist-Finger Speed
- Making fast, simple, repeated movements of your fingers, hands, and wrists.
Spatial Orientation
- Knowing where things are around you.
Trunk Strength
- Using your lower back and stomach.
Flexibility of Closure
- Seeing hidden patterns.
Reaction Time
- Quickly moving your hand, finger, or foot based on a sound, light, picture or other command.
Glare Sensitivity
- Seeing something even if there is a glare or very bright light.
Category Flexibility
- Grouping things in different ways.
Mathematical Reasoning
- Choosing the right type of math to solve a problem.
Number Facility
- Adding, subtracting, multiplying, or dividing.
Response Orientation
- Quickly deciding if you should move your hand, foot, or other body part.
Far Vision
- Seeing details that are far away.
Stamina
- Exercising for a long time without getting out of breath.
Explosive Strength
- Jumping, sprinting, or throwing something.
Static Strength
- Lifting, pushing, pulling, or carrying.
Control Precision
- Quickly changing the controls of a machine, car, truck or boat.
Written Comprehension
- Reading and understanding what is written.
Oral Expression
- Communicating by speaking.
Originality
- Creating new and original ideas.
Sound Localization
- Noticing the direction that a sound came from.
Problem Sensitivity
- Noticing when problems happen.
Fluency of Ideas
- Coming up with lots of ideas.
Multilimb Coordination
- Using your arms and/or legs together while sitting, standing, or lying down.
Oral Comprehension
- Listening and understanding what people say.
Memorization
- Remembering words, numbers, pictures, or steps.
Manual Dexterity
- Holding or moving items with your hands.
Finger Dexterity
- Putting together small parts with your fingers.
Auditory Attention
- Paying attention to one sound while there are other distracting sounds.
Selective Attention
- Paying attention to something without being distracted.
Gross Body Equilibrium
- Keeping your balance or staying upright.
Information Ordering
- Ordering or arranging things.
Speed of Limb Movement
- Quickly moving your arms and legs.
Dynamic Strength
- Exercising for a long time without your muscles getting tired.
Visual Color Discrimination
- Noticing the difference between colors, including shades and brightness.
Depth Perception
- Deciding which thing is closer or farther away from you, or deciding how far away it is from you.
Gross Body Coordination
- Moving your arms, legs, and mid-section together while your whole body is moving.
Written Expression
- Communicating by writing.
Rate Control
- Changing when and how fast you move based on how something else is moving.
Hearing Sensitivity
- Telling the difference between sounds.
Speech Recognition
- Recognizing spoken words.
Near Vision
- Seeing details up close.
Night Vision
- Seeing at night or under low light.
Visualization
- Imagining how something will look after it is moved around or changed.
Deductive Reasoning
- Using rules to solve problems.
Inductive Reasoning
- Making general rules or coming up with answers from lots of detailed information.
Extent Flexibility
- Bending, stretching, twisting, or reaching with your body, arms, and/or legs.
Arm-Hand Steadiness
- Keeping your arm or hand steady.
Dynamic Flexibility
- Quickly and repeatedly bending, stretching, twisting, or reaching out with your body, arms, and/or legs.
Peripheral Vision
- Seeing something to your side when your are looking ahead.

Computers and Electronics
- Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Transportation
- Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
Physics
- Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub-atomic structures and processes.
Chemistry
- Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.
Medicine and Dentistry
- Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
Sociology and Anthropology
- Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures, and their history and origins.
Education and Training
- Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
Building and Construction
- Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
Geography
- Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life.
Economics and Accounting
- Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Biology
- Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.
Engineering and Technology
- Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services.
Administrative
- Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Fine Arts
- Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
History and Archeology
- Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures.
Philosophy and Theology
- Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture.
Psychology
- Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
Food Production
- Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
Public Safety and Security
- Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions.
Communications and Media
- Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
English Language
- Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Law and Government
- Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Sales and Marketing
- Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
Mathematics
- Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Design
- Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models.
Mechanical
- Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
Customer and Personal Service
- Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Foreign Language
- Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
Therapy and Counseling
- Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance.
Personnel and Human Resources
- Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems.
Production and Processing
- Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods.
Telecommunications
- Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems.
Administration and Management
- Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

Education

High school diploma or equivalent

Work Experience

No work experience

Training

Less than 1 month on-the-job training

Education and Training Opportunities

Washington Annual Salary

58860/yr

Washington Hourly Wage

28.3/hr

Currently Employed

3,500

Yearly Projected Openings

250

Conventional: People interested in this work like activities that include data, detail, and regular routines. They do well at jobs that need:

Attention to Detail
Integrity
Dependability
Cooperation
Initiative
Self Control

Inkjet printers
Laser fax machine
Notebook computers
Personal computers
Photocopiers
Printer calculator
Scanners

Accounting software
Customer relationship management CRM software
Data base user interface and query software
Desktop publishing software
Electronic mail software
Financial analysis software
Internet browser software
Office suite software
Operating system software
Presentation software
Spreadsheet software
Word processing software

ADDITIONAL RESOURCES

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Loan Interviewers and Clerks

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