Will “Commercial Lender” be Replaced By Robots? 🤔
100 % Chance of Automation
“Commercial Lender” will definitely be replaced by robots.
This job is ranked #686 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.
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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”
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Compute payment schedules.
- Handle customer complaints and take appropriate action to resolve them.
- Negotiate payment arrangements with customers who have delinquent loans.
- Confer with underwriters to aid in resolving mortgage application problems.
- Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Supervise loan personnel.
- Provide special services such as investment banking for clients with more specialized needs.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Petition courts to transfer titles and deeds of collateral to banks.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Submit applications to credit analysts for verification and recommendation.
- Interview, hire, and train new employees.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Arrange for maintenance and liquidation of delinquent properties.
- Review and update credit and loan files.
- Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
Related Technology & Tools
- Personal computers
- Scanners
- Desktop computers
- Notebook computers
- Personal digital assistants PDA
- Tablet computers
- QuikDraw Loan Management System
- Harland Financial Solutions DecisionPro
- Ellie Mae Contour
- Dynamic Loanledger
- Experian FraudShield
- The Mortgage Office Loan Servicing
- White Clarke North America Credit Adjudication and Lending Management
- Credit fraud detection software
- Credit underwriting software
- IBM Notes
- The Mortgage Office Loan Origination
- Equifax Application Engine
- Moody's KMV Decisions
- Wolters Kluwer Financial Services ComplianceOne
- LexisNexis
- Integra Destiny Loan Origination
- Microsoft PowerPoint
- Fair Isaac Application Risk Model Software
- Credit and risk analysis software
- Loan origination software
- Click1003 Online Mortgage Application
- Experian Quest
- Indus Lending Solutions
- Harland Interlinq MortgageWare
- Technicost LOS
- FAS Loan Service Plus
- Moody's KMV CreditEdge
- Amortization loan software
- Experian Strategy Management
- Bottom Line LoanMaster Loan Servicing
- Loan application processing software
- eOriginal eCore Business Suite
- Experian Transact SM
- CGI-AMS Strata
- LA PRO Loan Administrator Pro
- Financial Industry Computer Systems Loan Originator
- CGI-AMS BureauLink Enterprise
- VueCentric MortgageDashboard
- Bankers Systems Rembrandt Lending System
- Equifax InterConnect
- RealBenefits Amortization Loan
- Common business oriented language COBOL
- 1003 Uniform Residential Loan Application
- Fannie Mae Desktop Underwriter
- Microsoft Excel
- Microsoft Outlook
- Experian Retention Triggers
- Fair Isaac Capstone Decision Manager
- Experian Detect
- Moody's KMV Risk Analyst
- Moody's KMV Financial Analyst
- Microsoft Word
- CGI-AMS CACS Enterprise
- Experian Credinomics
- Opportunity management system OMS
- IA Systems StreamLend
- Web browser software
- Ellie Mae Genesis
- Calyx Point
- Fair Isaac Falcon ID
- Equifax Advanced Decisioning
- Delphi Discovery
- Dun and Bradstreet Global DecisionMaker
- Financial Industry Computer Systems Loan Accountant
- Microsoft Office
- Moody's KMV Risk Advisor
- Customer information control system CICS
- Plimus Loan Artist
- eCredit Enterprise
- Freddie Mac Loan Prospector
- Financial Industry Computer Systems Loan Producer
- California Infinite LPS