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