Loan Interviewers and Clerks
Overview
SaveJob Zone Three: Medium Preparation Needed
Experience
Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.
Education
Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.
Job Training
Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.
Examples
These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include hydroelectric production managers, desktop publishers, electricians, agricultural technicians, barbers, court reporters and simultaneous captioners, and medical assistants.
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.
Yearly Salary
| High: | $61K |
| Median: | $41K |
| Low: | $27K |
Demand
Core Tasks
- 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.
- Check value of customer collateral to be held as loan security.
- Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- File and maintain loan records.
- 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.
- Answer questions and advise customers regarding loans and transactions.
- 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.
- Present loan and repayment schedules to customers.
- Accept payment on accounts.
- Schedule and conduct closings of mortgage transactions.
- Establish credit limits and grant extensions of credit on overdue accounts.
Technology Skills
Technology
Example
Hot Technology
Tools Used
Tool
Example
Top 10 Knowledge Required
Customer and Personal Service
88%
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.
English Language
84%
Knowledge of the structure and content of the English language including the meaning and spelling of words, and rules of composition and grammar.
Administrative
75%
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
Computers and Electronics
69%
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Law and Government
69%
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Mathematics
68%
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Administration and Management
58%
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 and Training
57%
Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
Sales and Marketing
56%
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.
Economics and Accounting
55%
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Top 10 Skills
Active Listening
83%
Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking
80%
Talking to others to convey information effectively.
Reading Comprehension
78%
Understanding written sentences and paragraphs in work-related documents.
Critical Thinking
75%
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Writing
73%
Communicating effectively in writing as appropriate for the needs of the audience.
Complex Problem Solving
70%
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Active Learning
68%
Understanding the implications of new information for both current and future problem-solving and decision-making.
Judgment and Decision Making
68%
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Social Perceptiveness
68%
Being aware of others' reactions and understanding why they react as they do.
Time Management
65%
Managing one's own time and the time of others.
Top 10 Abilities
Oral Comprehension
83%
The ability to listen to and understand information and ideas presented through spoken words and sentences.
Written Comprehension
83%
The ability to read and understand information and ideas presented in writing.
Oral Expression
80%
The ability to communicate information and ideas in speaking so others will understand.
Speech Clarity
80%
The ability to speak clearly so others can understand you.
Speech Recognition
80%
The ability to identify and understand the speech of another person.
Information Ordering
75%
The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
Near Vision
75%
The ability to see details at close range (within a few feet of the observer).
Problem Sensitivity
75%
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
Deductive Reasoning
73%
The ability to apply general rules to specific problems to produce answers that make sense.
Inductive Reasoning
73%
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Top 10 Work Activities
Working with Computers
99%
Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
Getting Information
89%
Observing, receiving, and otherwise obtaining information from all relevant sources.
Performing for or Working Directly with the Public
88%
Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
Evaluating Information to Determine Compliance with Standards
87%
Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Processing Information
87%
Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Communicating with Supervisors, Peers, or Subordinates
83%
Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Establishing and Maintaining Interpersonal Relationships
81%
Developing constructive and cooperative working relationships with others, and maintaining them over time.
Making Decisions and Solving Problems
81%
Analyzing information and evaluating results to choose the best solution and solve problems.
Analyzing Data or Information
80%
Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
Organizing, Planning, and Prioritizing Work
80%
Developing specific goals and plans to prioritize, organize, and accomplish your work.
Detailed Work Activities
- Verify accuracy of financial or transactional data.
- Compile data or documentation.
- Maintain financial or account records.
- Prepare documentation for contracts, transactions, or regulatory compliance.
- Provide notifications to customers or patrons.
- Obtain personal or financial information about customers or applicants.
- Determine the value of goods or services.
- Interview employees, customers, or others to collect information.
- Prepare business correspondence.
- Type documents.
- Monitor financial information.
- Calculate financial data.
- Discuss account status or activity with customers or patrons.
- Arrange insurance coverage.
- Collect deposits, payments or fees.
- Schedule appointments.
- Negotiate financial arrangements.
Education
Interests
Conventional
99%
Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
Enterprising
66%
Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
Social
49%
Work involves helping, teaching, advising, assisting, or providing service to others. Social occupations are often associated with social, health care, personal service, teaching/education, or religious activities.
Investigative
31%
Work involves studying and researching non-living objects, living organisms, disease or other forms of impairment, or human behavior. Investigative occupations are often associated with physical, life, medical, or social sciences, and can be found in the fields of humanities, mathematics/statistics, information technology, or health care service.
Artistic
15%
Work involves creating original visual artwork, performances, written works, food, or music for a variety of media, or applying artistic principles to the design of various objects and materials. Artistic occupations are often associated with visual arts, applied arts and design, performing arts, music, creative writing, media, or culinary art.
Realistic
15%
Work involves designing, building, or repairing of equipment, materials, or structures, engaging in physical activity, or working outdoors. Realistic occupations are often associated with engineering, mechanics and electronics, construction, woodworking, transportation, machine operation, agriculture, animal services, physical or manual labor, athletics, or protective services.
Work Values
Relationships
67%
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
62%
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
53%
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
53%
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
50%
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
48%
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.