Loan Interviewers and Clerks

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This occupation is part of the Office and Administrative Support cluster

About the Job

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.

It is also Called

  • Administrative Assistant
  • Closer
  • Closing Agent
  • Closing Coordinator
  • Credit Clerk
  • Disbursement Clerk
  • Document Coordinator
  • Document Processor
  • Eligibility Clerk
  • Funding Specialist

What They Do

  • Verify and examine information and accuracy of loan application and closing documents.
  • Interview loan applicants in order to obtain personal and financial data, and to assist in completing applications.
  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Answer questions and advise customers regarding loans and transactions.
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Present loan and repayment schedules to customers.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Check value of customer collateral to be held as loan security.

Interests

People who work in this occupation generally have the interest code: CE.

This means people who work in this occupation generally have Conventional interests, but also prefer Enterprising environments.

Work Values

People who work in this occupation generally prize Relationships, but also value Support and Achievement in their jobs.

Things They Need to Know

  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

Things They Need to Be Able to Do

  • Speaking - Talking to others to convey information effectively.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.

Education Required

Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.

Wages

In 2012, the average annual wage in California was $41,920.00 with most people making between $26,170.00 and $58,710.00

Outlook

1.34%
avg. annual growth

During 2010, this occupation employed approximately 17,200 people in California. It is projected that there will be 19,500 employed in 2020.

This occupation will have about 230 openings due to growth and about 320 replacement openings for approximately 550 total annual openings.

Common College Majors

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