Career Details

43-4131.00 - Loan Interviewers and Clerks

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.

Key Facts

Bright Outlook

Career Details

Green Job

Career Details

Current Employment

213,800

Estimate

Forecasted Employment

232,300

Estimate

Change in Employment

+18,500

Estimate

Change in Employment %

+8.6%

Estimate

Tasks

The tasks listed below can be performed to prepare you for a career in this field.

Core

Verify and examine information and accuracy of loan application and closing documents.
Interview loan applicants 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 to check applicants' credit and personal references.
File and maintain loan records.
Submit loan applications with recommendation for underwriting approval.
Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.

Supplemental

Schedule and conduct closings of mortgage transactions.
Accept payment on accounts.
Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
Establish credit limits and grant extensions of credit on overdue accounts.

All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.

Knowledge

The items listed below are organized into sections that contain knowledge useful for pursuing a career in this field. Each section also contains a "Percentage of Importance" statistic that shows how relevant an item is to the occupation.

Customer and Personal Service

English Language

Clerical

Computers and Electronics

Law and Government

Mathematics

Administration and Management

Education and Training

Sales and Marketing

Economics and Accounting

All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.

Tools

The tools listed below include machines, equipment, tools, and software that is useful for individuals who are interested in this career.

Computer printers

Duplicating machines

Computer data input devices

Computers

Calculating machines and accessories

All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.

Technology

The technologies listed below include machines, equipment, tools, and software that is useful for individuals who are interested in this career.

Finance accounting and enterprise resource planning ERP software

Content authoring and editing software

Data management and query software

Business function specific software

Information exchange software

Operating environment software

Network applications software

All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.

Certifications

FastForward at Virginia's Community Colleges is a short-term training program for high-demand industries, like healthcare, information technology, and skilled trades and infrastructure, helping Virginians get the jobs and salaries they need. Our goal is to get you trained, help you earn your certification, and get you into a career that can support you and your family. Explore the latest training program offerings by visiting FastForward

The certifications listed below are useful to pursue if you are interested in a career in this field.

Specialty

Advanced

Core

All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.

Licensing

The licensing information below is organized into sections and is useful for pursuing if you are interested in a career in this field.

No specific licensing information is listed for this occupation in the area you have selected.

All data sourced from US Department of Labor, Employment & Training Administration O*Net Database.

Related Programs

Programs related to this career, offered by participating institution(s), are listed below.

Clicking on the Degree programs in the list below will take you away from the Careers page.

INSTITUTION

PROGRAMS

Bridgewater College

Programs

Business Administration Major - BA

Bachelor of Arts

The George S. Aldhizer II Department of Economics and Business Administration offers two majors—economics and business administration—that prepare students to pursue managerial and other professional careers as well as graduate education. We build on the liberal arts foundation provided by the College’s general education program and give each student the knowledge, skills and experience to become a successful and ethical leader, capable of making valued contributions to his or her workplace, society and self. Through a combination of lectures, discussions, case analyses, team projects and presentations, and other in-class activities, courses are designed to integrate economic and business theory and practice; encourage independent and critical thinking using both qualitative and quantitative reasoning; and develop skills in decision making and implementation, teamwork and collaboration, and all forms of communication. Experiential learning opportunities abound through internships, study abroad programs and participation in student organizations, to supplement classroom learning. The economics major consists of 14 courses in economics and mathematics. Economics majors may choose among three tracks: business, government policy and preparation for graduate school via additional mathematics courses. Economics majors can also earn an emphasis in financial economics. The business administration major consists of 15 courses in business, economics and mathematics. To gain greater depth in a particular area of business, many students pursue one of the four concentrations we offer in the business administration major: accounting, finance, marketing and organization management. By taking additional courses, in one of these areas, students build specialization on the solid foundation provided by the business administration major. In addition to the previously mentioned majors, the department also offers minors in business administration, certified financial planning, and economics.

Randolph-Macon College

Programs

Business - Finance (BA)

Bachelor of Arts

A major in business offers students the opportunity to explore theories and concepts from accounting, business, and economics. Students study in an active learning environment and begin to understand and appreciate the complex nature of business organizations through applied economic theory. A major in business prepares students for a career in all business environments and provides an excellent foundation for graduate studies in such fields as business and law. The major in business requires a common core of courses plus one of three concentrations: Finance, Management, or Marketing. All courses in the core and in each concentration must be completed with a grade of C- or better.

Business - Management (BA)

Bachelor of Arts

Business - Marketing (BA)

Bachelor of Arts