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Job Description
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
Job Details
- The SOC (Standard Occupational Classification) code is 13-2072.00
- The Mean Annual Wage in the U.S. is $ 76,260.00
- The Mean Hourly Wage is $ 36.00
- Currently, there are 305,700 people on this job
☝️ Information based on the reference occupation “Loan Officers”.
Also Known As…
- Loan Officers
- Relationship Manager
- Portfolio Manager
- Mortgage Loan Originator
- Mortgage Loan Officer
- Loan Officer
- Corporate Banking Officer
- Commercial Loan Officer
- Commercial Banker
- Business Banking Officer
- Branch Manager
- Small Business Banking Officer
- Real Estate Officer
- Real Estate Loan Officer
- Personal Loan Specialist
- Personal Banking Officer
- Mortgage Underwriter
- Mortgage Specialist
- Mortgage Originator
- Mortgage or Loan Underwriter
- Mortgage Loan Closer
- Mortgage Consultant
- Mortgage Closer
- Mortgage Broker
- Mortgage Banker
- Loan Workout Officer
- Loan Supervisor
- Loan Specialist
- Loan Servicing Specialist
- Loan Service Officer
- Loan Reviewer
- Loan Originator
- Loan Interviewer
- Loan Examiner
- Loan Counselor
- Loan Coordinator
- Loan Consultant
- Loan Auditor
- Loan Approver
- Loan Analyst
- Loan Adviser
- Loan Administrator
- Lender
- Home Lending Officer
- Farm Loan Representative
- Escrow Officer
- Consumer Loan Officer
- Commercial Mortgage Broker
- Commercial Loan Collection Officer
- Commercial Lender
- Business Banker
- Branch Lending Officer
- Branch Banker
- Branch Account Manager
- Branch Account Executive
- Banking Services Officer
- Bank Representative
- Bank Officer
Tasks for “Agricultural Loan Officer”
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Review and update credit and loan files.
- Provide special services such as investment banking for clients with more specialized needs.
- Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
- Handle customer complaints and take appropriate action to resolve them.
- Compute payment schedules.
- Confer with underwriters to aid in resolving mortgage application problems.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Petition courts to transfer titles and deeds of collateral to banks.
- Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Arrange for maintenance and liquidation of delinquent properties.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Interview, hire, and train new employees.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Supervise loan personnel.
- Submit applications to credit analysts for verification and recommendation.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Negotiate payment arrangements with customers who have delinquent loans.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Related Technology & Tools
- Personal digital assistants PDA
- Tablet computers
- Personal computers
- Desktop computers
- Notebook computers
- Scanners
- Bankers Systems Rembrandt Lending System
- Dynamic Loanledger
- Microsoft Outlook
- Technicost LOS
- Credit and risk analysis software
- Fair Isaac Falcon ID
- Loan application processing software
- Bottom Line LoanMaster Loan Servicing
- Fair Isaac Application Risk Model Software
- IA Systems StreamLend
- Click1003 Online Mortgage Application
- Moody's KMV Decisions
- Experian Quest
- Microsoft Excel
- Fair Isaac Capstone Decision Manager
- Amortization loan software
- Experian Detect
- Microsoft PowerPoint
- Web browser software
- 1003 Uniform Residential Loan Application
- Integra Destiny Loan Origination
- Opportunity management system OMS
- Common business oriented language COBOL
- Microsoft Word
- eCredit Enterprise
- Calyx Point
- Customer information control system CICS
- CGI-AMS CACS Enterprise
- Credit underwriting software
- Indus Lending Solutions
- CGI-AMS BureauLink Enterprise
- Wolters Kluwer Financial Services ComplianceOne
- Harland Interlinq MortgageWare
- Dun and Bradstreet Global DecisionMaker
- Experian Credinomics
- The Mortgage Office Loan Servicing
- LexisNexis
- Plimus Loan Artist
- Equifax InterConnect
- Financial Industry Computer Systems Loan Accountant
- Credit fraud detection software
- The Mortgage Office Loan Origination
- Experian Strategy Management
- Experian Transact SM
- VueCentric MortgageDashboard
- Harland Financial Solutions DecisionPro
- Moody's KMV Risk Advisor
- Moody's KMV Financial Analyst
- RealBenefits Amortization Loan
- LA PRO Loan Administrator Pro
- IBM Notes
- Equifax Application Engine
- eOriginal eCore Business Suite
- Experian Retention Triggers
- Freddie Mac Loan Prospector
- Moody's KMV CreditEdge
- White Clarke North America Credit Adjudication and Lending Management
- Equifax Advanced Decisioning
- California Infinite LPS
- Fannie Mae Desktop Underwriter
- Ellie Mae Genesis
- CGI-AMS Strata
- Experian FraudShield
- Loan origination software
- Financial Industry Computer Systems Loan Producer
- Microsoft Office
- Delphi Discovery
- Ellie Mae Contour
- QuikDraw Loan Management System
- Moody's KMV Risk Analyst
- FAS Loan Service Plus
- Financial Industry Computer Systems Loan Originator