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