Loan Interviewers and Clerk 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.
Loan Interviewers and Clerk is Also Know as
In different settings, Loan Interviewers and Clerk is titled as
- Closer
- Licensed Loan Officer Assistant
- Loan Analyst
- Loan Clerk
- Loan Closer
- Loan Originator
- Loan Processor
- Mortgage Broker
- Mortgage Loan Processor
- Mortgage Processor
Education and Training of Loan Interviewers and Clerk
Loan Interviewers and Clerk is categorized in Job Zone Three: Medium Preparation Needed
Experience Required for Loan Interviewers and Clerk
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.
Education Required for Loan Interviewers and Clerk
Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.
Degrees Related to Loan Interviewers and Clerk
- Bachelor in Banking and Financial Support Services
- Associate Degree Courses in Banking and Financial Support Services
- Masters Degree Courses in Banking and Financial Support Services
Training Required for Loan Interviewers and Clerk
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.
Related Ocuupations
Some Ocuupations related to Loan Interviewers and Clerk in different industries are
- Loan Officers
- Credit Authorizers, Checkers, and Clerks
- Credit Analysts
- Credit Counselors
- Bill and Account Collectors
- Bookkeeping, Accounting, and Auditing Clerks
- New Accounts Clerks
- Brokerage Clerks
- Insurance Claims and Policy Processing Clerks
- Tellers
- Billing and Posting Clerks
- Securities, Commodities, and Financial Services Sales Agents
- Personal Financial Advisors
- Eligibility Interviewers, Government Programs
- Financial Managers
- Insurance Sales Agents
- Financial Examiners
- Tax Examiners and Collectors, and Revenue Agents
- Tax Preparers
- Customer Service Representatives
What Do Loan Interviewers and Clerk do?
- Verify and examine information and accuracy of loan application and closing documents.
- Interview loan applicants 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.
- Answer questions and advise customers regarding loans and transactions.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
- Present loan and repayment schedules to customers.
- Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
- Check value of customer collateral to be held as loan security.
- Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
- File and maintain loan records.
- Schedule and conduct closings of mortgage transactions.
- Accept payment on accounts.
- Submit loan applications with recommendation for underwriting approval.
- Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
- Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
- Establish credit limits and grant extensions of credit on overdue accounts.
Qualities of Good Loan Interviewers and Clerk
- Written Comprehension: The ability to read and understand information and ideas presented in writing.
- Oral Comprehension: The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Speech Clarity: The ability to speak clearly so others can understand you.
- Speech Recognition: The ability to identify and understand the speech of another person.
- Oral Expression: The ability to communicate information and ideas in speaking so others will understand.
- Near Vision: The ability to see details at close range (within a few feet of the observer).
- Problem Sensitivity: The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
- Information Ordering: The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Deductive Reasoning: The ability to apply general rules to specific problems to produce answers that make sense.
- Inductive Reasoning: The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Written Expression: The ability to communicate information and ideas in writing so others will understand.
- Selective Attention: The ability to concentrate on a task over a period of time without being distracted.
- Mathematical Reasoning: The ability to choose the right mathematical methods or formulas to solve a problem.
- Fluency of Ideas: The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
- Number Facility: The ability to add, subtract, multiply, or divide quickly and correctly.
- Category Flexibility: The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Flexibility of Closure: The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
- Time Sharing: The ability to shift back and forth between two or more activities or sources of information (such as speech, sounds, touch, or other sources).
- Speed of Closure: The ability to quickly make sense of, combine, and organize information into meaningful patterns.
- Perceptual Speed: The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes comparing a presented object with a remembered object.
- Far Vision: The ability to see details at a distance.
- Originality: The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
- Finger Dexterity: The ability to make precisely coordinated movements of the fingers of one or both hands to grasp, manipulate, or assemble very small objects.
- Visualization: The ability to imagine how something will look after it is moved around or when its parts are moved or rearranged.
- Memorization: The ability to remember information such as words, numbers, pictures, and procedures.
- Hearing Sensitivity: The ability to detect or tell the differences between sounds that vary in pitch and loudness.
- Visual Color Discrimination: The ability to match or detect differences between colors, including shades of color and brightness.
- Auditory Attention: The ability to focus on a single source of sound in the presence of other distracting sounds.
- Trunk Strength: The ability to use your abdominal and lower back muscles to support part of the body repeatedly or continuously over time without "giving out" or fatiguing.
- Control Precision: The ability to quickly and repeatedly adjust the controls of a machine or a vehicle to exact positions.
- Manual Dexterity: The ability to quickly move your hand, your hand together with your arm, or your two hands to grasp, manipulate, or assemble objects.
- Wrist-Finger Speed: The ability to make fast, simple, repeated movements of the fingers, hands, and wrists.
- Depth Perception: The ability to judge which of several objects is closer or farther away from you, or to judge the distance between you and an object.
- Arm-Hand Steadiness: The ability to keep your hand and arm steady while moving your arm or while holding your arm and hand in one position.
- Dynamic Strength: The ability to exert muscle force repeatedly or continuously over time. This involves muscular endurance and resistance to muscle fatigue.
- Reaction Time: The ability to quickly respond (with the hand, finger, or foot) to a signal (sound, light, picture) when it appears.
- Spatial Orientation: The ability to know your location in relation to the environment or to know where other objects are in relation to you.
- Sound Localization: The ability to tell the direction from which a sound originated.
- Multilimb Coordination: The ability to coordinate two or more limbs (for example, two arms, two legs, or one leg and one arm) while sitting, standing, or lying down. It does not involve performing the activities while the whole body is in motion.
- Response Orientation: The ability to choose quickly between two or more movements in response to two or more different signals (lights, sounds, pictures). It includes the speed with which the correct response is started with the hand, foot, or other body part.
- Glare Sensitivity: The ability to see objects in the presence of a glare or bright lighting.
- Peripheral Vision: The ability to see objects or movement of objects to one's side when the eyes are looking ahead.
- Night Vision: The ability to see under low-light conditions.
- Rate Control: The ability to time your movements or the movement of a piece of equipment in anticipation of changes in the speed and/or direction of a moving object or scene.
- Speed of Limb Movement: The ability to quickly move the arms and legs.
- Gross Body Equilibrium: The ability to keep or regain your body balance or stay upright when in an unstable position.
- Gross Body Coordination: The ability to coordinate the movement of your arms, legs, and torso together when the whole body is in motion.
- Dynamic Flexibility: The ability to quickly and repeatedly bend, stretch, twist, or reach out with your body, arms, and/or legs.
- Extent Flexibility: The ability to bend, stretch, twist, or reach with your body, arms, and/or legs.
- Stamina: The ability to exert yourself physically over long periods of time without getting winded or out of breath.
- Explosive Strength: The ability to use short bursts of muscle force to propel oneself (as in jumping or sprinting), or to throw an object.
- Static Strength: The ability to exert maximum muscle force to lift, push, pull, or carry objects.
Tools Used by Loan Interviewers and Clerk
- Computer inkjet printers
- Copy machines
- Document scanners
- Laptop computers
- Laser facsimile machines
- Personal computers
- Printing calculators
Technology Skills required for Loan Interviewers and Clerk
- Accounting software
- Automated financial software
- Automated underwriting software
- Credit reporting software
- Desktop publishing software
- Encompass software
- Fannie Mae Desktop Underwriter
- Lending software systems
- Loan tracking software
- Microsoft Access
- Microsoft Dynamics
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Windows
- Microsoft Word
- Operating system software
- Rockport Integrated Excel Underwriting
- Software AG Underwriting Solution
- Web browser software