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