Life As a Loan Interviewer or Clerk
Career 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.
A Day in the Life of a Loan Interviewer or Clerk
- Submit loan applications with recommendation for underwriting approval.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
- Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
- Verify and examine information and accuracy of loan application and closing documents.
- File and maintain loan records.
What a Loan Interviewer or Clerk Should Know
Below is a list of the skills most Loan Interviewers and Clerks say are important on the job.
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.
Speaking: Talking to others to convey information effectively.
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.
Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Types of Loan Interviewer or Clerk
- Loan Expeditor
- Licensed Loan Officer Assistant
- Loan Interviewer
- Loan Closer
Job Demand for Loan Interviewers and Clerks
In 2016, there was an estimated number of 229,800 jobs in the United States for Loan Interviewer or Clerk. New jobs are being produced at a rate of 12.4% which is above the national average. The Bureau of Labor Statistics predicts 28,400 new jobs for Loan Interviewer or Clerk by 2026. There will be an estimated 25,700 positions for Loan Interviewer or Clerk per year.
The states with the most job growth for Loan Interviewer or Clerk are Utah, Arizona, and Iowa. Watch out if you plan on working in Alaska, West Virginia, or Vermont. These states have the worst job growth for this type of profession.
How Much Does a Loan Interviewer or Clerk Make?
The typical yearly salary for Loan Interviewers and Clerks is somewhere between $25,600 and $59,710.
Loan Interviewers and Clerks who work in District of Columbia, Connecticut, or Colorado, make the highest salaries.
How much do Loan Interviewers and Clerks make in different U.S. states?
|State||Annual Mean Salary|
|District of Columbia||$55,320|
Tools & Technologies Used by Loan Interviewers and Clerks
Below is a list of the types of tools and technologies that Loan Interviewers and Clerks may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Dynamics
- Desktop publishing software
Becoming a Loan Interviewer or Clerk
What kind of Loan Interviewer or Clerk requirements are there?
What work experience do I need to become a Loan Interviewer or Clerk?
Where Loan Interviewers and Clerks Work
Loan Interviewers and Clerks work in the following industries:
Other Jobs You May be Interested In
Those thinking about becoming a Loan Interviewer or Clerk might also be interested in the following careers:
Those who work as a Loan Interviewer or Clerk sometimes switch careers to one of these choices:
- Eligibility Interviewers, Government Programs
- Credit Analysts
- Claims Examiners, Property and Casualty Insurance
- Procurement Clerks
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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