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Loan Officers - 13-2072.00

O*NET-SOC Description

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

Sample of Reported Job Titles

  • Loan Officer
  • Branch Manager
  • Mortgage Loan Officer
  • Relationship Manager
  • Commercial Loan Officer
  • Mortgage Loan Originator
  • Business Banking Officer
  • Commercial Banker
  • Corporate Banking Officer
  • Portfolio Manager

SOC Occupation Groups

Related Occupations

Tasks

  • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  • Analyze potential loan markets and develop referral networks to locate prospects for loans.
  • Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
  • Arrange for maintenance and liquidation of delinquent properties.
  • Compute payment schedules.
  • Confer with underwriters to aid in resolving mortgage application problems.
  • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
  • Handle customer complaints and take appropriate action to resolve them.
  • Interview, hire, and train new employees.
  • Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
  • Meet with applicants to obtain information for loan applications and to answer questions about the process.
  • Negotiate payment arrangements with customers who have delinquent loans.
  • Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
  • Petition courts to transfer titles and deeds of collateral to banks.
  • Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
  • Provide special services such as investment banking for clients with more specialized needs.
  • Review and update credit and loan files.
  • Review loan agreements to ensure that they are complete and accurate according to policy.
  • Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
  • Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
  • Submit applications to credit analysts for verification and recommendation.
  • Supervise loan personnel.
  • Work with clients to identify their financial goals and to find ways of reaching those goals.

Detailed Work Activities

  • advise clients on financial matters
  • analyze applicant's financial status
  • analyze credit information gathered by investigation
  • analyze financial data
  • approve or deny loans
  • complete information on loan forms
  • compute financial data
  • compute payment schedule
  • compute property equity
  • direct and coordinate financial activities
  • evaluate customer records
  • evaluate degree of financial risk
  • explain credit application information
  • file documents in court
  • identify potential markets
  • interview customers
  • make presentations on financial matters
  • negotiate payment arrangements with customers
  • obtain financial information from individuals
  • provide customer service
  • review loan applications
  • use computers to enter, access and retrieve financial data
  • use interviewing procedures
  • verify bank or financial transactions
  • verify information for credit investigations

Military Crosswalk Titles

No information available.

Apprenticeship Crosswalk Titles

No information available.

DOT Crosswalk Titles

  • Commercial Loan Collection Officer
  • Loan Officer
  • Underwriter, Mortgage Loan