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