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