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Details for Loan Interviewers and Clerks


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.


  • Answer questions and advise customers regarding loans and transactions.
  • File and maintain loan records.
  • Schedule and conduct closings of mortgage transactions.
  • Present loan and repayment schedules to customers.
  • Establish credit limits and grant extensions of credit on overdue accounts.
  • Order property insurance or mortgage insurance policies in order to ensure protection against loss on mortgaged property.
  • Accept payment on accounts.
  • Review customer accounts in order to determine whether payments are made on time and that other loan terms are being followed.
  • Verify and examine information and accuracy of loan application and closing documents.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Interview loan applicants in order 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.
  • 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.
  • Contact credit bureaus, employers, and other sources in order to check applicants' credit and personal references.
  • Check value of customer collateral to be held as loan security.
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.


  • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
  • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Education, Training, Experience

  • Education - Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.
  • 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.
  • 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.


  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.


  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • 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.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking - Talking to others to convey information effectively.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Related Careers

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  • Bookkeeping, Accounting, and Auditing Clerks
  • Insurance Claims Clerks
  • New Accounts Clerks
  • Office Clerks, General
  • Order Clerks
  • Tax Preparers
  • Tellers
Wages for this career
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