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