Will “Commercial Loan Collection Officer” be Replaced By Robots? 🤔

100 % Chance of Automation

“Commercial Loan Collection Officer” 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.

Care to share? Click for Facebook, Twitter, LinkedIn, or XING. 👍

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…

Tasks for “Commercial Loan Collection Officer”

Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
Petition courts to transfer titles and deeds of collateral to banks.
Submit applications to credit analysts for verification and recommendation.
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.
Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
Review and update credit and loan files.
Supervise loan personnel.
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.
Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
Analyze potential loan markets and develop referral networks to locate prospects for loans.
Arrange for maintenance and liquidation of delinquent properties.
Confer with underwriters to aid in resolving mortgage application problems.
Interview, hire, and train new employees.
Compute payment schedules.
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.
Work with clients to identify their financial goals and to find ways of reaching those goals.
Provide special services such as investment banking for clients with more specialized needs.
Handle customer complaints and take appropriate action to resolve them.

Related Technology & Tools

Desktop computers
Tablet computers
Personal computers
Scanners
Notebook computers
Personal digital assistants PDA

Calyx Point
Freddie Mac Loan Prospector
Web browser software
FAS Loan Service Plus
eCredit Enterprise
Experian FraudShield
Technicost LOS
CGI-AMS CACS Enterprise
Amortization loan software
Experian Retention Triggers
White Clarke North America Credit Adjudication and Lending Management
Experian Quest
Wolters Kluwer Financial Services ComplianceOne
Ellie Mae Genesis
Fannie Mae Desktop Underwriter
Financial Industry Computer Systems Loan Producer
LexisNexis
Harland Interlinq MortgageWare
Experian Detect
Plimus Loan Artist
Opportunity management system OMS
Microsoft Word
Moody's KMV Risk Analyst
Microsoft Outlook
Equifax Application Engine
Experian Strategy Management
Moody's KMV Financial Analyst
Common business oriented language COBOL
Experian Credinomics
California Infinite LPS
Moody's KMV Decisions
Microsoft Excel
Financial Industry Computer Systems Loan Accountant
Moody's KMV Risk Advisor
1003 Uniform Residential Loan Application
Bankers Systems Rembrandt Lending System
Delphi Discovery
Dun and Bradstreet Global DecisionMaker
Customer information control system CICS
Loan origination software
Equifax Advanced Decisioning
The Mortgage Office Loan Servicing
Fair Isaac Capstone Decision Manager
Microsoft PowerPoint
Fair Isaac Application Risk Model Software
Moody's KMV CreditEdge
Equifax InterConnect
LA PRO Loan Administrator Pro
Experian Transact SM
Harland Financial Solutions DecisionPro
Microsoft Office
IBM Notes
IA Systems StreamLend
CGI-AMS BureauLink Enterprise
Indus Lending Solutions
Click1003 Online Mortgage Application
Fair Isaac Falcon ID
Financial Industry Computer Systems Loan Originator
The Mortgage Office Loan Origination
QuikDraw Loan Management System
VueCentric MortgageDashboard
Credit fraud detection software
Integra Destiny Loan Origination
Loan application processing software
Bottom Line LoanMaster Loan Servicing
Credit and risk analysis software
CGI-AMS Strata
Ellie Mae Contour
RealBenefits Amortization Loan
Dynamic Loanledger
eOriginal eCore Business Suite
Credit underwriting software