Occupation: Loan Interviewers and Clerks

Loan Interviewers and Clerks

Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.

43-4131.00 | 18 tasks | 10 job titles

Reported Job Titles

(10)
  • Closer
  • Licensed Loan Officer Assistant
  • Loan Analyst
  • Loan Clerk
  • Loan Closer
  • Loan Originator
  • Loan Processor
  • Mortgage Broker
  • Mortgage Loan Processor
  • Mortgage Processor

Core Tasks

(14)
  • Verify and examine information and accuracy of loan application and closing documents.
  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Submit loan applications with recommendation for underwriting approval.
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
  • File and maintain loan records.
  • Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
  • Check value of customer collateral to be held as loan security.
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Answer questions and advise customers regarding loans and transactions.
  • Present loan and repayment schedules to customers.

Supplemental Tasks

(4)
  • Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
  • Accept payment on accounts.
  • Schedule and conduct closings of mortgage transactions.
  • Establish credit limits and grant extensions of credit on overdue accounts.