Will “Commercial Lender” be Replaced By Robots? 🤔
100 % Chance of Automation
“Commercial Lender” will definitely be replaced by robots.
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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
- Business Banker
- Branch Lending Officer
- Branch Banker
- Branch Account Manager
- Branch Account Executive
- Banking Services Officer
- Bank Representative
- Bank Officer
- Agricultural Loan Officer
Tasks for “Commercial Lender”
- Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
- Submit applications to credit analysts for verification and recommendation.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Supervise loan personnel.
- Negotiate payment arrangements with customers who have delinquent loans.
- Petition courts to transfer titles and deeds of collateral to banks.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Interview, hire, and train new employees.
- Handle customer complaints and take appropriate action to resolve them.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Arrange for maintenance and liquidation of delinquent properties.
- Confer with underwriters to aid in resolving mortgage application problems.
- 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.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Review and update credit and loan files.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Compute payment schedules.
- 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.
Related Technology & Tools
- Tablet computers
- Personal computers
- Scanners
- Personal digital assistants PDA
- Desktop computers
- Notebook computers
- Ellie Mae Contour
- Loan application processing software
- IBM Notes
- Moody's KMV Risk Analyst
- Moody's KMV Risk Advisor
- Dynamic Loanledger
- Harland Interlinq MortgageWare
- Microsoft Outlook
- QuikDraw Loan Management System
- The Mortgage Office Loan Servicing
- eCredit Enterprise
- eOriginal eCore Business Suite
- Freddie Mac Loan Prospector
- Opportunity management system OMS
- Wolters Kluwer Financial Services ComplianceOne
- Microsoft Excel
- Experian Credinomics
- Fair Isaac Application Risk Model Software
- Credit underwriting software
- IA Systems StreamLend
- Moody's KMV CreditEdge
- CGI-AMS CACS Enterprise
- Moody's KMV Financial Analyst
- Financial Industry Computer Systems Loan Originator
- California Infinite LPS
- RealBenefits Amortization Loan
- Experian Detect
- Integra Destiny Loan Origination
- The Mortgage Office Loan Origination
- Delphi Discovery
- Experian Retention Triggers
- Calyx Point
- FAS Loan Service Plus
- VueCentric MortgageDashboard
- 1003 Uniform Residential Loan Application
- Experian Strategy Management
- Harland Financial Solutions DecisionPro
- Experian Quest
- Microsoft Word
- Financial Industry Computer Systems Loan Accountant
- Indus Lending Solutions
- Amortization loan software
- Common business oriented language COBOL
- Bankers Systems Rembrandt Lending System
- Fair Isaac Falcon ID
- Equifax Advanced Decisioning
- LA PRO Loan Administrator Pro
- Financial Industry Computer Systems Loan Producer
- Fannie Mae Desktop Underwriter
- Fair Isaac Capstone Decision Manager
- Microsoft PowerPoint
- Microsoft Office
- Credit fraud detection software
- Ellie Mae Genesis
- Click1003 Online Mortgage Application
- CGI-AMS Strata
- Experian Transact SM
- Dun and Bradstreet Global DecisionMaker
- White Clarke North America Credit Adjudication and Lending Management
- Bottom Line LoanMaster Loan Servicing
- Equifax Application Engine
- Web browser software
- Technicost LOS
- Customer information control system CICS
- Experian FraudShield
- Plimus Loan Artist
- Moody's KMV Decisions
- CGI-AMS BureauLink Enterprise
- Credit and risk analysis software
- Equifax InterConnect
- LexisNexis
- Loan origination software