_____ Conventional Occupations: Loan Of! cers
Interview loan applicants to elicit information,
investigate applicants’ backgrounds and verify ref-
erences, prepare loan request papers, and forward
fi ndings, reports, and documents to appraisal
department. Review loan papers to ensure com-
pleteness and complete transactions between
loan establishment, borrowers, and sellers upon
approval of loan. Verify and examine information
and accuracy of loan application and closing docu-
ments. Interview loan applicants in order to obtain
personal and fi nancial data, and to assist in complet-
ing 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 transac-
tions. Contact customers by mail, telephone, or in
person concerning acceptance or rejection of appli-
cations. Record applications for loan and credit, loan
information, and disbursements of funds, using com-
puters. Prepare and type loan applications, closing
documents, legal documents, letters, forms, govern-
ment notices, and checks, using computers. Present
loan and repayment schedules to customers. Cal-
culate, review, and correct errors on interest, prin-
cipal, payment, and closing costs, using computers
or calculators. Check value of customer collateral
to be held as loan security. Contact credit bureaus,
employers, and other sources in order to check appli-
cants’ credit and personal references. File and main-
tain loan records. Schedule and conduct closings of
mortgage transactions. Accept payment on accounts.
Submit loan applications with recommendation for
underwriting approval. Order property insurance or
mortgage insurance policies in order to ensure pro-
tection against loss on mortgaged property. Review
customer accounts in order to determine whether
payments are made on time and that other loan terms
are being followed. Establish credit limits and grant
extensions of credit on overdue accounts.
GOE—Interest Area/Cluster: 06. Finance and
Insurance. Work Group: 06.04. Finance/Insurance
Customer Service. Other Jobs in " is Work Group:
Bill and Account Collectors; New Accounts Clerks;
Te l l e r s.
Skills: Service Orientation; Learning Strategies;
Mathematics; Time Management; Speaking; Writ-
ing; Persuasion; Operations Analysis.
Education and Training Program: Banking and
Financial Support Services. Related Knowledge/
Courses: Economics and Accounting; Clerical Prac-
tices; Mathematics; Customer and Personal Service;
Law and Government.
Work Environment: Indoors; sitting.Loan Of! cers
! Personality Code: CES
! Education/Training Required: Bachelor’s
degree
! Annual Earnings: $53,000
! Beginning Wage: $30,340
! Earnings Growth Potential: High
! Growth: 11.5%
! Annual Job Openings: 54,237
! Self-Employed: 2.9%
! Part-Time: 6.6%Evaluate, authorize, or recommend approval of
commercial, real estate, or credit loans. Advise
borrowers on fi nancial status and methods of
payments. Includes mortgage loan offi cers and
agents, collection analysts, loan servicing offi -
cers, and loan underwriters. Meet with applicants
to obtain information for loan applications and to
answer questions about the process. Approve loans
within specifi ed limits and refer loan applications out-
side those limits to management for approval. Ana-
lyze applicants’ fi nancial status, credit, and property
evaluations to determine feasibility of granting loans.
Explain to customers the diff erent types of loans and
credit options that are available, as well as the terms
of those services. Obtain and compile copies of loan
applicants’ credit histories, corporate fi nancial state-
ments, and other fi nancial information. Review and
update credit and loan fi les. Review loan agreements
to ensure that they are complete and accurate accord-
ing to policy. Compute payment schedules. StayConventional–
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