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Loan Interviewers and Clerks in Tennessee
Considering working as a Loan Interviewers and Clerks in Tennessee? Below are the key facts. 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.
What do Loan Interviewers and Clerks Make in Tennessee?
For loan interviewers and clerks working in Tennessee, the typical annual salary is $46,740 per year (or roughly $22.47/hour).Earnings range from $35,050 at the 10th percentile to $60,570 at the 90th percentile.
| Wage Statistic | Annual | Hourly |
|---|---|---|
| 10th percentile | $35,050 | $16.85 |
| 25th percentile | $40,000 | $19.23 |
| Median (50th) | $46,740 | $22.47 |
| 75th percentile | $51,650 | $24.83 |
| 90th percentile | $60,570 | $29.12 |
Location quotient — how concentrated this career is in Tennessee compared to the national average — is 0.90.
National Wage Comparison
Nationally, loan interviewers and clerks earn a median of $55,652 per year ($26.76/hour), below the Tennessee median.
Employment Outlook
National employment for 1,822,876 loan interviewers and clerks nationwide. In Tennessee alone, around 3,290 people work in this role. That’s higher than the typical state, which employs around 2,670 loan interviewers and clerks.
Top Tennessee Metros for Loan Interviewers and Clerks
The largest metro-area employers of loan interviewers and clerks in Tennessee.
| Metro Area | Number Employed | Annual Median Salary |
|---|---|---|
| Nashville-Davidson–Murfreesboro–Franklin, TN | 930 | $50,040 |
| Knoxville, TN | 640 | $41,670 |
| Memphis, TN-MS-AR | 500 | $47,810 |
| Chattanooga, TN-GA | 170 | $46,920 |
| Clarksville, TN-KY | 90 | $44,160 |
| Kingsport-Bristol, TN-VA | 90 | $46,080 |
| Johnson City, TN | 70 | $47,410 |
Top States for Loan Interviewers and Clerks Employment
These states have the highest employment of loan interviewers and clerks work.
| State | Number Employed |
|---|---|
| Texas | 20,940 |
| California | 14,060 |
| Florida | 11,380 |
| Michigan | 8,160 |
| Ohio | 6,480 |
| Illinois | 6,250 |
| Arizona | 5,340 |
| Virginia | 5,050 |
| Wisconsin | 4,900 |
| Pennsylvania | 4,700 |
| Missouri | 4,670 |
| New York | 4,650 |
| North Carolina | 4,580 |
| Indiana | 4,170 |
| Georgia | 4,130 |
| Kentucky | 3,730 |
| Oklahoma | 3,490 |
| New Jersey | 3,370 |
| Minnesota | 3,300 |
| Tennessee | 3,290 |
Highest-Paying States for Loan Interviewers and Clerks
The highest-paying states for loan interviewers and clerks.
| State | Annual Median Salary |
|---|---|
| District of Columbia | $77,730 |
| Delaware | $58,870 |
| Washington | $58,860 |
| Maryland | $58,260 |
| California | $57,790 |
| Connecticut | $57,680 |
| New York | $56,300 |
| New Hampshire | $55,620 |
| Massachusetts | $55,090 |
| Colorado | $53,120 |
Skills
Key loan interviewers and clerks skills, rated on an importance scale of 0 to 5:
Knowledge Areas
Key knowledge areas for this occupation, rated on an importance scale of 0 to 5:
Abilities
The abilities that matter most for loan interviewers and clerks, rated on an importance scale of 0 to 5:
Daily Tasks
Common tasks include:
- Verify and examine information and accuracy of loan application and closing documents.
- Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- Submit loan applications with recommendation for underwriting approval.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- File and maintain loan records.
- Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
- Check value of customer collateral to be held as loan security.
- Interview loan applicants to obtain personal and financial data and to assist in completing applications.
- Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
- Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
- Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
Work Activities
- Working with Computers
- Getting Information
- Performing for or Working Directly with the Public
- Processing Information
- Evaluating Information to Determine Compliance with Standards
- Communicating with Supervisors, Peers, or Subordinates
- Making Decisions and Solving Problems
- Establishing and Maintaining Interpersonal Relationships
- Analyzing Data or Information
- Updating and Using Relevant Knowledge
- Organizing, Planning, and Prioritizing Work
- Identifying Objects, Actions, and Events
Tools & Technology
Technologies frequently used: Hot technologies: Microsoft Access In-demand technologies: Microsoft Excel
Related Careers
Careers similar to loan interviewers and clerks include:
- Financial Managers
- Credit Analysts
- Personal Financial Advisors
- Insurance Underwriters
- Financial Examiners
- Credit Counselors
Also Known As
Closer, Closing Agent, Closing Coordinator, Commercial Loan Processor, Consumer Loan Processor, Credit Clerk, Disbursement Clerk, Document Coordinator, Document Processor, Financial Services Specialist, Financial Solutions Specialist, Financial Specialist, Investigator, Licensed Loan Officer Assistant, Loan Analyst.
References
- U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
- O*NET Online — https://www.onetonline.org/
- BLS Employment Projections — https://www.bls.gov/emp/
- O*NET-SOC code: 43-4131.00
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