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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 Officer
- Agricultural Loan Officer
Tasks for “Bank Representative”
- Negotiate payment arrangements with customers who have delinquent loans.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Confer with underwriters to aid in resolving mortgage application problems.
- Compute payment schedules.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
- Review and update credit and loan files.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Submit applications to credit analysts for verification and recommendation.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Handle customer complaints and take appropriate action to resolve them.
- Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Provide special services such as investment banking for clients with more specialized needs.
- Arrange for maintenance and liquidation of delinquent properties.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Supervise loan personnel.
- Petition courts to transfer titles and deeds of collateral to banks.
- Interview, hire, and train new employees.
Related Technology & Tools
- Scanners
- Personal computers
- Tablet computers
- Personal digital assistants PDA
- Desktop computers
- Notebook computers
- Bottom Line LoanMaster Loan Servicing
- Plimus Loan Artist
- Experian Strategy Management
- Opportunity management system OMS
- Experian FraudShield
- Wolters Kluwer Financial Services ComplianceOne
- Loan origination software
- Moody's KMV CreditEdge
- QuikDraw Loan Management System
- Experian Credinomics
- LA PRO Loan Administrator Pro
- Equifax Advanced Decisioning
- Equifax Application Engine
- Technicost LOS
- Experian Transact SM
- Freddie Mac Loan Prospector
- The Mortgage Office Loan Origination
- Fair Isaac Falcon ID
- Web browser software
- Delphi Discovery
- Microsoft Outlook
- CGI-AMS BureauLink Enterprise
- Harland Financial Solutions DecisionPro
- Ellie Mae Genesis
- Credit and risk analysis software
- Moody's KMV Risk Advisor
- Click1003 Online Mortgage Application
- White Clarke North America Credit Adjudication and Lending Management
- Credit fraud detection software
- Moody's KMV Financial Analyst
- Dun and Bradstreet Global DecisionMaker
- Financial Industry Computer Systems Loan Accountant
- Dynamic Loanledger
- Customer information control system CICS
- Financial Industry Computer Systems Loan Originator
- Bankers Systems Rembrandt Lending System
- Microsoft Word
- CGI-AMS CACS Enterprise
- 1003 Uniform Residential Loan Application
- Microsoft Excel
- eOriginal eCore Business Suite
- Fannie Mae Desktop Underwriter
- Ellie Mae Contour
- Experian Retention Triggers
- CGI-AMS Strata
- Credit underwriting software
- IBM Notes
- Experian Detect
- IA Systems StreamLend
- The Mortgage Office Loan Servicing
- Fair Isaac Application Risk Model Software
- Experian Quest
- Microsoft Office
- Harland Interlinq MortgageWare
- RealBenefits Amortization Loan
- Moody's KMV Risk Analyst
- Integra Destiny Loan Origination
- California Infinite LPS
- Equifax InterConnect
- VueCentric MortgageDashboard
- Moody's KMV Decisions
- Common business oriented language COBOL
- FAS Loan Service Plus
- Microsoft PowerPoint
- Indus Lending Solutions
- Calyx Point
- Amortization loan software
- Loan application processing software
- Fair Isaac Capstone Decision Manager
- Financial Industry Computer Systems Loan Producer
- LexisNexis
- eCredit Enterprise