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