DETAILED OCCUPATION DATA
43-4131 Loan Interviewers and Clerks
Occupational Description: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.
|Geography||Employment||Emp SE*||Mean||Mean SE*||10th||25th||Median||75th||90th|
|EDR 9 - South Central||110||25||$15.50/hr||$0.77/hr||$12.62/hr||$13.45/hr||$14.83/hr||$17.36/hr||$19.37/hr|
|*SE = Standard error, a measure of the statistical reliability of the estimate.|
(click title for details)
|Employment||Median Wage||% Change -|
|Office Clerks, General||1,930||$13.26/hr||N/A|
|Bookkeeping, Accounting, and Auditing Clerks||1,450||$15.69/hr||N/A|
|Billing and Posting Clerks and Machine Operators||420||$17.10/hr||N/A|
|New Accounts Clerks||70||$14.35/hr||N/A|
Tasks for Loan Interviewers and Clerks
- Verifies and examines information and accuracy of loan application and closing documents.
- Interviews loan applicant to obtain personal and financial data and to assist in filling out application.
- Assembles and compiles documents for closing, such as title abstract, insurance form, loan form, and tax receipt.
- Prepares and types loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computer.
- Records applications for loan and credit, loan information, and disbursement of funds, using computer.
- Contacts customer by mail, telephone, or in person concerning acceptance or rejection of application.
- Checks value of customer collateral to be held as loan security.
- Answers questions and advises customer regarding loans and transactions.
- Calculates, reviews, and corrects errors on interest, principal, payment, and closing costs, using computer or calculator.
- Reviews customer accounts to determine whether payments are made on time and that other loan terms are being followed.
- Accepts payment on accounts.
- Orders property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
- Files and maintains loan records.
- Establishes credit limit and grants extension of credit on overdue accounts.
- Presents loan and repayment schedule to customer.
- Schedules and conducts closing of mortgage transaction.
- Contacts credit bureaus, employers, and other sources to check applicant credit and personal references.
- Submits loan application with recommendation for underwriting approval.