Will “Commercial Mortgage Broker” be Replaced By Robots? 🤔

100 % Chance of Automation

“Commercial Mortgage Broker” 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 Mortgage Broker”

Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
Interview, hire, and train new employees.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Analyze potential loan markets and develop referral networks to locate prospects for loans.
Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
Petition courts to transfer titles and deeds of collateral to banks.
Confer with underwriters to aid in resolving mortgage application problems.
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.
Meet with applicants to obtain information for loan applications and to answer questions about the process.
Review and update credit and loan files.
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.
Arrange for maintenance and liquidation of delinquent properties.
Supervise loan personnel.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Compute payment schedules.
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.
Submit applications to credit analysts for verification and recommendation.
Handle customer complaints and take appropriate action to resolve them.
Review loan agreements to ensure that they are complete and accurate according to policy.
Negotiate payment arrangements with customers who have delinquent loans.

Related Technology & Tools

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

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