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