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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

  • Analyze market conditions or trends.
  • Assess financial status of clients.
  • Authorize financial actions.
  • Communicate with government agencies.
  • Compute debt repayment schedules.
  • Conduct eligibility or selection interviews.
  • Confer with personnel to coordinate business operations.
  • Correspond with customers to answer questions or resolve complaints.
  • Develop financial plans for clients.
  • Establish organizational guidelines or policies.
  • Examine financial records.
  • Execute sales or other financial transactions.
  • Gather financial records.
  • Interpret financial information for others.
  • Interview clients to gather financial information.
  • Maintain data in information systems or databases.
  • Market products, services, or events.
  • Negotiate agreements to resolve disputes.
  • Prepare financial documents, reports, or budgets.
  • Recommend investments to clients.
  • Submit financial applications.
  • Supervise employees.
  • Train personnel to enhance job skills.
  • Update professional knowledge.
  • Verify accuracy of financial information.

Military Crosswalk Titles

No information available.

Apprenticeship Crosswalk Titles

No information available.

DOT Crosswalk Titles

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