Will “Lender” be Replaced By Robots? 🤔

100 % Chance of Automation

“Lender” 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 “Lender”

Arrange for maintenance and liquidation of delinquent properties.
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.
Interview, hire, and train new employees.
Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
Submit applications to credit analysts for verification and recommendation.
Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
Meet with applicants to obtain information for loan applications and to answer questions about the process.
Negotiate payment arrangements with customers who have delinquent loans.
Supervise loan personnel.
Review loan agreements to ensure that they are complete and accurate according to policy.
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.
Review and update credit and loan files.
Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
Work with clients to identify their financial goals and to find ways of reaching those goals.
Petition courts to transfer titles and deeds of collateral to banks.
Handle customer complaints and take appropriate action to resolve them.
Provide special services such as investment banking for clients with more specialized needs.
Compute payment schedules.
Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
Set credit policies, credit lines, procedures and standards in conjunction with senior managers.

Related Technology & Tools

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

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