Loan Interviewers and Clerks
Tasks Include:
- Verify and examine information and accuracy of loan application and closing documents.
- Interview loan applicants 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.
more »
The data sources for the information displayed here include: O*NET™; US Department of Labor (BLS); Virginia Workforce Connection. (Using onet28)
Projections Quick View:
Virginia: +1.7%
National: -0.6%
Education
High School Diploma
Job Zone:
Three: Medium Preparation Needed
Income Range:
Moderately High ($36,000 - $49,999)
Median Earnings:
National
$46,490.00
State
$46,840.00
Regional
Loan Interviewers and Clerks
Description
Career Cluster: | Finance |
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.
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Education
Required Level of Education
- High School Diploma - or the equivalent (for example, GED) = 42.85%
- Bachelor's Degree = 38.26%
- Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) = 12.12%
- Associate's Degree (or other 2-year degree) = 6.69%
- Some College Courses = 0.09%
Related Work Experience
- Over 2 years, up to and including 4 years = 30.55%
- Over 6 months, up to and including 1 year = 23.78%
- Over 6 years, up to and including 8 years = 13.61%
- None = 12.94%
- Over 4 years, up to and including 6 years = 12.28%
- Over 1 year, up to and including 2 years = 6.73%
- Over 1 month, up to and including 3 months = 0.09%
On-Site or In-Plant Training
- Up to and including 1 month = 25.56%
- None = 23.63%
- Over 6 months, up to and including 1 year = 19.73%
- Over 2 years, up to and including 4 years = 19.20%
- Over 1 month, up to and including 3 months = 10.87%
- Over 3 months, up to and including 6 months = 1.01%
On-the-Job Training
- Over 1 year, up to and including 2 years = 37.83%
- Anything beyond short demonstration, up to and including 1 month = 25.32%
- Over 1 month, up to and including 3 months = 23.97%
- Over 3 months, up to and including 6 months = 11.02%
- Over 6 months, up to and including 1 year = 1.86%
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Tasks
Core Tasks Include:
- Verify and examine information and accuracy of loan application and closing documents.
- Interview loan applicants 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.
- Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
- File and maintain loan records.
- Submit loan applications with recommendation for underwriting approval.
- Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
Supplemental Tasks Include:
- Schedule and conduct closings of mortgage transactions.
- Accept payment on accounts.
- Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
- Establish credit limits and grant extensions of credit on overdue accounts.
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Additional Resources
State employment service offices can provide information about employment opportunities.
For specific information on a career as a loan processor or loan closer, contact:
Mortgage Bankers Association of America
1125 15th St. NW.
Washington, DC 20005
http://www.mbaa.org
The data sources for the information displayed here include: Virginia Career VIEW Research. (Using onet28)
Loan Interviewers and Clerks
Knowledge
% | Subject | Description |
---|---|---|
84.75 | 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. |
80.00 | English Language | Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. |
67.75 | Administrative | Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology. |
60.50 | Computers and Electronics | Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming. |
60.25 | Law and Government | Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process. |
59.25 | Mathematics | Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Skills
% | Subject | Description |
---|---|---|
78.00 | 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. |
75.00 | Speaking | Talking to others to convey information effectively. |
72.00 | Reading Comprehension | Understanding written sentences and paragraphs in work-related documents. |
68.75 | Critical Thinking | Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems. |
65.50 | Writing | Communicating effectively in writing as appropriate for the needs of the audience. |
62.50 | Complex Problem Solving | Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions. |
59.50 | Judgment and Decision Making | Considering the relative costs and benefits of potential actions to choose the most appropriate one. |
59.50 | Active Learning | Understanding the implications of new information for both current and future problem-solving and decision-making. |
59.50 | Social Perceptiveness | Being aware of others' reactions and understanding why they react as they do. |
56.25 | Time Management | Managing one's own time and the time of others. |
53.00 | Mathematics | Using mathematics to solve problems. |
50.00 | Monitoring | Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action. |
50.00 | Coordination | Adjusting actions in relation to others' actions. |
50.00 | Persuasion | Persuading others to change their minds or behavior. |
50.00 | Instructing | Teaching others how to do something. |
50.00 | Service Orientation | Actively looking for ways to help people. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Abilities
% | Subject | Description |
---|---|---|
78.00 | Oral Comprehension | The ability to listen to and understand information and ideas presented through spoken words and sentences. |
78.00 | Written Comprehension | The ability to read and understand information and ideas presented in writing. |
75.00 | Oral Expression | The ability to communicate information and ideas in speaking so others will understand. |
75.00 | Speech Clarity | The ability to speak clearly so others can understand you. |
75.00 | Speech Recognition | The ability to identify and understand the speech of another person. |
68.75 | Problem Sensitivity | The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem. |
68.75 | Information Ordering | The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations). |
68.75 | Near Vision | The ability to see details at close range (within a few feet of the observer). |
65.50 | Written Expression | The ability to communicate information and ideas in writing so others will understand. |
65.50 | Deductive Reasoning | The ability to apply general rules to specific problems to produce answers that make sense. |
65.50 | Inductive Reasoning | The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). |
53.00 | Mathematical Reasoning | The ability to choose the right mathematical methods or formulas to solve a problem. |
53.00 | Selective Attention | The ability to concentrate on a task over a period of time without being distracted. |
50.00 | Fluency of Ideas | The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity). |
50.00 | Category Flexibility | The ability to generate or use different sets of rules for combining or grouping things in different ways. |
50.00 | Number Facility | The ability to add, subtract, multiply, or divide quickly and correctly. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Work Activities
% | Subject | Description |
---|---|---|
98.00 | Working with Computers | Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information. |
85.25 | Getting Information | Observing, receiving, and otherwise obtaining information from all relevant sources. |
84.50 | Performing for or Working Directly with the Public | Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests. |
83.75 | Processing Information | Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data. |
83.75 | Evaluating Information to Determine Compliance with Standards | Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards. |
78.00 | Communicating with Supervisors, Peers, or Subordinates | Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person. |
75.50 | Making Decisions and Solving Problems | Analyzing information and evaluating results to choose the best solution and solve problems. |
75.25 | Establishing and Maintaining Interpersonal Relationships | Developing constructive and cooperative working relationships with others, and maintaining them over time. |
75.00 | Analyzing Data or Information | Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts. |
75.00 | Updating and Using Relevant Knowledge | Keeping up-to-date technically and applying new knowledge to your job. |
74.00 | Organizing, Planning, and Prioritizing Work | Developing specific goals and plans to prioritize, organize, and accomplish your work. |
71.75 | Identifying Objects, Actions, and Events | Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events. |
65.50 | Communicating with People Outside the Organization | Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail. |
63.50 | Interpreting the Meaning of Information for Others | Translating or explaining what information means and how it can be used. |
63.25 | Performing Administrative Activities | Performing day-to-day administrative tasks such as maintaining information files and processing paperwork. |
58.00 | Documenting/Recording Information | Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form. |
57.25 | Monitoring Processes, Materials, or Surroundings | Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems. |
57.25 | Resolving Conflicts and Negotiating with Others | Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others. |
55.25 | Thinking Creatively | Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions. |
54.50 | Inspecting Equipment, Structures, or Materials | Inspecting equipment, structures, or materials to identify the cause of errors or other problems or defects. |
54.50 | Selling or Influencing Others | Convincing others to buy merchandise/goods or to otherwise change their minds or actions. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Work Styles
% | Subject | Description |
---|---|---|
90.75 | Attention to Detail | Job requires being careful about detail and thorough in completing work tasks. |
90.25 | Integrity | Job requires being honest and ethical. |
85.50 | Dependability | Job requires being reliable, responsible, and dependable, and fulfilling obligations. |
80.50 | Cooperation | Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. |
79.25 | Initiative | Job requires a willingness to take on responsibilities and challenges. |
78.75 | Self-Control | Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations. |
75.25 | Stress Tolerance | Job requires accepting criticism and dealing calmly and effectively with high-stress situations. |
74.75 | Persistence | Job requires persistence in the face of obstacles. |
73.75 | Independence | Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. |
73.50 | Adaptability/Flexibility | Job requires being open to change (positive or negative) and to considerable variety in the workplace. |
72.00 | Achievement/Effort | Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks. |
63.50 | Concern for Others | Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job. |
62.75 | Analytical Thinking | Job requires analyzing information and using logic to address work-related issues and problems. |
60.25 | Leadership | Job requires a willingness to lead, take charge, and offer opinions and direction. |
54.00 | Innovation | Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems. |
50.75 | Social Orientation | Job requires preferring to work with others rather than alone, and being personally connected with others on the job. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Work Values
% | Subject | Description |
---|---|---|
61.17 | Relationships | Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service. |
55.50 | Support | Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical. |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Work Context
% | Subject | Description |
---|---|---|
100.00 | Telephone | How often do you have telephone conversations in this job? |
99.40 | Contact With Others | How much does this job require the worker to be in contact with others (face-to-face, by telephone, or otherwise) in order to perform it? |
98.20 | Indoors, Environmentally Controlled | How often does this job require working indoors in environmentally controlled conditions? |
94.60 | Deal With External Customers | How important is it to work with external customers or the public in this job? |
94.00 | Importance of Being Exact or Accurate | How important is being very exact or highly accurate in performing this job? |
93.80 | Spend Time Sitting | How much does this job require sitting? |
92.80 | Face-to-Face Discussions | How often do you have to have face-to-face discussions with individuals or teams in this job? |
92.40 | Frequency of Decision Making | How frequently is the worker required to make decisions that affect other people, the financial resources, and/or the image and reputation of the organization? |
90.60 | Letters and Memos | How often does the job require written letters and memos? |
90.60 | Time Pressure | How often does this job require the worker to meet strict deadlines? |
89.20 | Structured versus Unstructured Work | To what extent is this job structured for the worker, rather than allowing the worker to determine tasks, priorities, and goals? |
88.40 | Freedom to Make Decisions | How much decision making freedom, without supervision, does the job offer? |
86.40 | Electronic Mail | How often do you use electronic mail in this job? |
86.20 | Importance of Repeating Same Tasks | How important is repeating the same physical activities (e.g., key entry) or mental activities (e.g., checking entries in a ledger) over and over, without stopping, to performing this job? |
82.20 | Work With Work Group or Team | How important is it to work with others in a group or team in this job? |
81.40 | Impact of Decisions on Co-workers or Company Results | What results do your decisions usually have on other people or the image or reputation or financial resources of your employer? |
79.80 | Level of Competition | To what extent does this job require the worker to compete or to be aware of competitive pressures? |
74.80 | Coordinate or Lead Others | How important is it to coordinate or lead others in accomplishing work activities in this job? |
74.40 | Deal With Unpleasant or Angry People | How frequently does the worker have to deal with unpleasant, angry, or discourteous individuals as part of the job requirements? |
72.60 | Frequency of Conflict Situations | How often are there conflict situations the employee has to face in this job? |
72.00 | Responsibility for Outcomes and Results | How responsible is the worker for work outcomes and results of other workers? |
63.00 | Spend Time Making Repetitive Motions | How much does this job require making repetitive motions? |
59.20 | Degree of Automation | How automated is the job? |
57.00 | Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or Controls | How much does this job require using your hands to handle, control, or feel objects, tools or controls? |
55.60 | Physical Proximity | To what extent does this job require the worker to perform job tasks in close physical proximity to other people? |
54.60 | Sounds, Noise Levels Are Distracting or Uncomfortable | How often does this job require working exposed to sounds and noise levels that are distracting or uncomfortable? |
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Job Zone Three: Medium Preparation Needed
- Overall Experience
- Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.
- Job Training
- Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.
- Examples
- These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include hydroelectric production managers, desktop publishers, electricians, agricultural technicians, barbers, court reporters and simultaneous captioners, and medical assistants.
- Education
- Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Earnings Benefits*
Region | Entry Level | Median | Experienced |
---|---|---|---|
United States | $31,750.00 | $46,490.00 | $53,740.00 |
Virginia | $31,770.00 | $46,840.00 | $58,430.00 |
Region | Entry Level | Median | Experienced |
Alexandria/Arlington | $38,866.93 | $57,191.51 | $64,767.19 |
Bay Consortium | $33,371.62 | $46,083.14 | $54,068.90 |
Capital Region Workforce Partnership | $34,686.57 | $47,078.90 | $51,200.39 |
Central VA/Region2000 | $31,023.71 | $39,916.41 | $47,722.43 |
Crater Area | No Data | No Data | No Data |
Greater Peninsula | $35,281.55 | $45,507.78 | $52,112.48 |
Hampton Roads | $34,973.73 | $50,644.66 | $54,894.23 |
New River/Mt. Rogers | $31,897.59 | $36,992.12 | $42,741.53 |
Northern Virginia | $38,164.52 | $48,418.64 | $59,507.40 |
Piedmont Workforce | $37,816.41 | $51,506.14 | $60,103.41 |
Shenandoah Valley | No Data | No Data | No Data |
South Central | No Data | No Data | No Data |
Southwestern Virginia | $31,824.25 | $36,992.12 | $39,368.94 |
West Piedmont | $32,687.80 | $38,533.28 | $43,122.69 |
Western Virginia | $34,652.48 | $40,539.28 | $47,912.50 |
* Earnings Calculations:
Regional Earnings:
Entry = Annual mean of the lower 1/3 wage distribution;
Experienced = Annual mean of the upper 2/3 wage distribution.
National and State Earnings:
Entry = Annual 10th percentile wage;
Experienced = Annual 75th percentile wage.
The data sources for the information displayed here include: US Department of Labor (BLS); Virginia Workforce Connection. (Using onet28)
Loan Interviewers and Clerks
Employment Projections
Current | Projected | % Change | |
---|---|---|---|
United States | 247,000 | 245,400 | -0.6% |
Virginia | 8,049 | 8,188 | +1.7% |
Region | Current* | Projected | % Change |
Alexandria/Arlington | No Data | No Data | No Data |
Bay Consortium | No Data | No Data | No Data |
Capital Region Workforce Partnership | No Data | No Data | No Data |
Central VA/Region2000 | No Data | No Data | No Data |
Crater Area | No Data | No Data | No Data |
Greater Peninsula | No Data | No Data | No Data |
Hampton Roads | No Data | No Data | No Data |
New River/Mt. Rogers | No Data | No Data | No Data |
Northern Virginia | No Data | No Data | No Data |
Piedmont Workforce | No Data | No Data | No Data |
Shenandoah Valley | No Data | No Data | No Data |
South Central | No Data | No Data | No Data |
Southwestern Virginia | No Data | No Data | No Data |
West Piedmont | No Data | No Data | No Data |
Western Virginia | No Data | No Data | No Data |
The data sources for the information displayed here include: US Department of Labor (BLS); Virginia Workforce Connection. (Using onet28)
Loan Interviewers and Clerks
Related Occupations
Related Occupations
The related occupations here have similar general capabilities and interests; career explorers may also be interested in the related occupations:- Loan Officers
- Credit Authorizers, Checkers, and Clerks
- Credit Analysts
- Credit Counselors
- Bill and Account Collectors
- Bookkeeping, Accounting, and Auditing Clerks
- New Accounts Clerks
- Brokerage Clerks
- Insurance Claims and Policy Processing Clerks
- Tellers
- Billing and Posting Clerks
- Securities, Commodities, and Financial Services Sales Agents
- Personal Financial Advisors
- Eligibility Interviewers, Government Programs
- Financial Managers
- Insurance Sales Agents
- Financial Examiners
- Tax Examiners and Collectors, and Revenue Agents
- Tax Preparers
- Customer Service Representatives
Careers in Banking Services Pathway:
- Bill and Account Collectors
- Credit Analysts
- Credit Authorizers, Checkers, and Clerks
- Financial Clerks, All Other
- Loan Interviewers and Clerks
- Loan Officers
- Tellers
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
View Videos
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Overview
Occupations
The data sources for the information displayed here include: New York State Department of Labor; New Jersey Department of Labor; California Occupational Information Coordinating Committee; CareerOneStop. (Using onet28)
Loan Interviewers and Clerks
Proficiency Ratings
These proficiencies are scored on a scale from 1 to 5 with 1 being not
important to the job and 5 being extremely important to the job.
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Titles
- Administrative Assistant
- Closer
- Closing Agent
- Closing Coordinator
- Credit Clerk
- Disbursement Clerk
- Document Coordinator
- Document Processor
- Eligibility Clerk
- Funding Specialist
- Investigator
- Loan Analyst
- Loan Assistant
- Loan Clerk
- Loan Closer
- Loan Coordinator
- Loan Counselor
- Loan Expediter
- Loan Inspector
- Loan Interviewer
- Loan Officer
- Loan Originator
- Loan Processing Supervisor
- Loan Processor
- Loan Representative
- Loan Secretary
- Mortgage Broker
- Mortgage Clerk
- Mortgage Closing Clerk
- Mortgage Loan Closer
- Mortgage Loan Interviewer
- Mortgage Loan Officer
- Mortgage Loan Processing Clerk
- Mortgage Loan Processor
- Mortgage Processing Clerk
- Mortgage Processor
- Mortgage Underwriter
- Office Manager
- Opener
- Post Closer
- Processing Manager
- Processor
- Production Assistant
- Retail Mortgage Processor
- Sales Support Specialist
- Underwriter
The data sources for the information displayed here include: O*NET™. (Using onet28)
Loan Interviewers and Clerks
Related Schools
- Hampton University
The data sources for the information displayed here include: O*NET™. (Using onet28)