Will “Mortgage Closer” be Replaced By Robots? 🤔

100 % Chance of Automation

“Mortgage Closer” 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 “Mortgage Closer”

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

Related Technology & Tools

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

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