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