Will “Personal Loan Specialist” be Replaced By Robots? 🤔

100 % Chance of Automation

“Personal Loan 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…

Tasks for “Personal Loan Specialist”

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

Related Technology & Tools

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

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