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