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