Loan Interviewers and Clerks
Loan interviewers and clerks help people get loans by interviewing applicants to gather their personal and financial information and verify that everything is accurate. They use computers to prepare loan applications, legal documents, and closing paperwork, while also organizing important documents like insurance forms and tax receipts. These professionals communicate with customers through phone calls, emails, and in-person meetings to explain loan terms, answer questions, and let people know if their loan has been approved. The job requires strong attention to detail, computer skills, and excellent customer service abilities in a collaborative office environment.
Did you know?
Loan processors must stay current with federal and state lending regulations, including CFPB guidelines and fair lending practices, as violations can result in significant penalties for employers.
At a glance
Typical average pay
$49,900 Avg/yr
Growth
Stable
Top skill
Active Listening
Things to consider
Technology Adaptation
The increasing automation of loan processing requires professionals to continuously update their skills with new software platforms and digital verification systems to remain competitive.
Economic Market Sensitivity
Loan processing volume fluctuates significantly with interest rate changes and economic cycles, making job security dependent on broader market conditions.
Key responsibilities
Accept payment on accounts.
Record applications for loan and credit, loan information, and disbursements of funds, using computers.
Check value of customer collateral to be held as loan security.
Answer questions and advise customers regarding loans and transactions.
Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.