Occupation Details
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.
Quick Navigation
Interests
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.
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.
Work Values
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.
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.
Salary & Job Outlook
Starting Salary
$38,710.00
New York StateMedian Salary
$50,180.00
New York StateExperienced Salary
$63,310.00
New York StateNational Average for Comparison
New York State Job Market Outlook
Jobs Right Now (2018)
7,100
professionals in NYFuture Job Growth (2030)
6,860
+-24 jobs/yearNew Jobs Every Year
587
new opportunities yearlyGrowth Rate
0.0%
projected increasePreparation: Experience, Training, and Education
The list below outlines the prior educational experience required to perform in this occupation.
College Helps - Some college classes or training
Experience Requirements
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 Requirements
Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.
Training Details
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.
Transferrable Skills and Experience
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.
School Programs
The following lists school programs which are applicable to this occupation.
Licensing & Certification
State License and Certifications Requirements are not currently associated with this occupation.
Skills
The list below includes the skills required by workers in this occupation; skills are what allow you to learn more quickly and improve your performance.
Active Listening
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
Talking to others to convey information effectively.
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
Writing
Communicating effectively in writing as appropriate for the needs of the audience.
Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Skill level is measured on a seven point scale, where one means 'some competence required for this occupation' and seven means 'a high level of expertise required for this occupation'.
Knowledge
The list below includes knowledge items, the principles and facts required by this occupation.
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.
English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
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.
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
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.
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
Knowledge level is measured on a seven point scale, where one means 'some competence required for this occupation' and seven means 'a high level of expertise required for this occupation'.
Work Environment
The list below includes the physical and social factors that influence the nature of work in this occupation.
Hover over or tap each factor to see its description.
Work Styles
Included in the list below are the personal work style characteristics that can affect how well a worker is likely to perform in this occupation.
Adaptability/Flexibility
Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Attention to Detail
Job requires being careful about detail and thorough in completing work tasks.
Cooperation
Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
Dependability
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
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.
Initiative
Job requires a willingness to take on responsibilities and challenges.
Integrity
Job requires being honest and ethical.
Persistence
Job requires persistence in the face of obstacles.
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.
Tools & Technology
This list below describes the machines, equipment, tools, software, and information technology that workers in this occupation will use.
Tools
- Computer inkjet printers
- Copy machines
- Document scanners
- Laptop computers
- Laser facsimile machines
- Personal computers
Technology
- Automated financial software
- Credit reporting software
- Desktop publishing software
- Lending software systems
- Microsoft Dynamics
- Microsoft Excel
- Microsoft Office
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Windows
- Microsoft Word
- Rockport Integrated Excel Underwriting
- Software AG Underwriting Solution
Duties
Duties are job behaviors describing activities that occur on multiple jobs. The generalized and detailed work activities described in the list below apply to this occupation.
- advise clients or customers
- collect deposit or payment
- schedule meetings or appointments
- maintain account records
- complete information on loan forms
- maintain records, reports, or files
- prepare reports
- fill out business or government forms
- prepare contract documents
- interview customers
- write business correspondence
- understand property documents
- use interviewing procedures
- use oral or written communication techniques
- compute property equity
- compute taxes
- compute financial data
- evaluate customer records
- review loan applications
- verify bank or financial transactions
- compile data for financial reports
- verify information for credit investigations
- ensure correct grammar, punctuation, or spelling
- examine documents for completeness, accuracy, or conformance to standards
- provide customer service
- obtain information from individuals
- gather relevant financial data
- use computers to enter, access or retrieve data
- use spreadsheet software
- use word processing or desktop publishing software
Tasks
The list below outlines specific tasks that a worker in this occupation is called upon to do regularly.
- 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.
- Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
- Answer questions and advise customers regarding loans and transactions.
- 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.
Learning Resources
More information on this occupation may be found in the links provided below.
Information and record clerks (Intro)
Visit this link for additional information on this career from the Occupational Outlook Handbook; a publication produced and maintained by the United States Department of Labor.
Learn MoreInterviewers
Visit this link for additional information on this career from the Occupational Outlook Handbook; a publication produced and maintained by the United States Department of Labor.
Learn More