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”

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

Related Technology & Tools

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

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