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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, loan underwriters, and payday loan officers.

Sample of Reported Job Titles

  • Commercial Banker
  • Commercial Loan Officer
  • Corporate Banking Officer
  • Financial Aid Advisor
  • Financial Aid Counselor
  • Financial Aid Officer
  • Financial Counselor
  • Loan Counselor
  • Loan Officer
  • Mortgage Loan Officer

SOC Occupation Groups

Related Occupations


  • 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.
  • Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
  • Authorize or sign mail collection letters.
  • Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
  • Compute payment schedules.
  • Confer with underwriters to resolve mortgage application problems.
  • Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
  • Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
  • Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
  • Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
  • 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.
  • Inform individuals and groups about the financial assistance available to college or university students.
  • Maintain and review account records, updating and recategorizing them according to status changes.
  • Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
  • Match individuals' needs and eligibility with available financial aid programs to provide informed recommendations.
  • Meet with applicants to obtain information for loan applications and to answer questions about the process.
  • Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
  • Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
  • Review accounts to determine write-offs for collection agencies.
  • Review and update credit and loan files.
  • Review billing for accuracy.
  • 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 others on financial matters.
  • Analyze market conditions or trends.
  • Assess financial status of clients.
  • Authorize financial actions.
  • Compute debt repayment schedules.
  • Confer with others about financial matters.
  • Correspond with customers to answer questions or resolve complaints.
  • Develop financial plans for clients.
  • Educate clients on financial planning topics.
  • Establish organizational guidelines or policies.
  • Examine financial records.
  • Gather financial records.
  • Inform individuals or organizations of status or findings.
  • Interpret financial information for others.
  • Interview clients to gather financial information.
  • Maintain data in information systems or databases.
  • Market products, services, or events.
  • Prepare financial documents, reports, or budgets.
  • Recommend products or services to customers.
  • Submit financial applications.
  • Supervise employees.
  • Update professional knowledge.
  • Verify accuracy of financial information.
  • Verify accuracy of records.
  • Verify application data to determine program eligibility.

Military Crosswalk Titles

  • Disbursing Officer (Navy - Commissioned or Warrant Officer)

Apprenticeship Crosswalk Titles

No information available.

DOT Crosswalk Titles

  • Commercial Loan Collection Officer
  • Credit Counselor
  • Financial-Aid Counselor
  • Loan Officer
  • Underwriter, Mortgage Loan