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