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Loan Interviewers and Clerks

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Life As a Loan Interviewer or Clerk

Loan Interviewer or Clerk Definition 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.

What do Loan Interviewers and Clerks do On a Daily Basis?

  • File and maintain loan records.
  • Schedule and conduct closings of mortgage transactions.
  • Submit loan applications with recommendation for underwriting approval.
  • Establish credit limits and grant extensions of credit on overdue accounts.
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.

What Every Loan Interviewer or Clerk Should Know

Loan Interviewers and Clerks state the following job skills are important in their day-to-day work.

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.

Speaking: Talking to others to convey information effectively.

Reading Comprehension: Understanding written sentences and paragraphs in work related documents.

Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Writing: Communicating effectively in writing as appropriate for the needs of the audience.

Types of Loan Interviewer or Clerk Jobs

  • Loan Expeditor
  • Credit Clerk
  • Mortgage Closing Clerk
  • Underwriter
  • Mortgage Broker

Are There Job Opportunities for Loan Interviewers and Clerks?

There were about 229,800 jobs for Loan Interviewers and Clerks in 2016 (in the United States).

New jobs are being produced at a rate of 12.3% which is lower than average. The Bureau of Labor Statistics predicts 28,400 new jobs for Loan Interviewers and Clerks by 2026. There will be an estimated 25,700 positions for Loan Interviewer or Clerk per year.

Forecasted Number of Jobs for Loan Interviewers and Clerks in U.S.

The states with the most job growth for Loan Interviewers and Clerks are Arizona, Texas, and Florida.

Watch out if you plan on working in Alaska, Vermont, or District of Columbia. These states have the worst job growth for this type of profession.

Salary for Loan Interviewers and Clerks

Loan Interviewers and Clerks Make between $25,600 and $59,710 a year. The median salary is $39,890.

Salary Ranges for Loan Interviewers and Clerks

How much do Loan Interviewers and Clerks make in each U.S. state?

Annual Mean Salary by State
State Annual Mean Salary

District of Columbia

$55,320

Connecticut

$48,160

Hawaii

$47,970

Colorado

$47,630

California

$46,480

Oregon

$46,040

New Jersey

$45,770

New York

$45,520

Maryland

$45,030

Washington

$44,570

Texas

$44,190

Massachusetts

$43,030

North Dakota

$42,990

Virginia

$42,990

North Carolina

$42,540

Illinois

$42,440

Minnesota

$42,250

Alaska

$42,190

Nebraska

$41,610

Florida

$41,590

Rhode Island

$41,460

Arizona

$40,530

Vermont

$40,190

Wisconsin

$40,110

New Hampshire

$40,060

Kansas

$39,880

Utah

$39,710

Michigan

$39,490

Nevada

$39,240

Wyoming

$39,120

Tennessee

$39,060

Arkansas

$39,000

Delaware

$38,830

South Carolina

$38,560

Ohio

$38,510

Missouri

$38,350

Iowa

$37,930

Georgia

$37,910

Idaho

$37,450

Montana

$36,630

Maine

$36,620

Indiana

$36,370

Kentucky

$36,350

South Dakota

$34,820

Pennsylvania

$34,790

New Mexico

$34,430

Oklahoma

$34,100

Alabama

$33,910

Louisiana

$32,660

Mississippi

$32,290

West Virginia

$32,200

What Tools & Technology do Loan Interviewers and Clerks Use?

Below is a list of the types of tools and technologies that Loan Interviewers and Clerks may use on a daily basis:

  • Microsoft Dynamics
  • Microsoft PowerPoint
  • Microsoft Outlook
  • Microsoft Office
  • Microsoft Word
  • Microsoft Excel

Becoming a Loan Interviewer or Clerk

What kind of Loan Interviewer or Clerk requirements are there?

Loan Interviewer or Clerk Degree Level

How Long Does it Take to Become Loan Interviewer or Clerk?

Loan Interviewer or Clerk Work Experience

Who Employs Loan Interviewers and Clerks?

Loan Interviewer or Clerk Sectors

Similar Careers

Those thinking about becoming Loan Interviewers and Clerks might also be interested in the following careers:

  • Insurance Underwriters

Are you already one of the many Loan Interviewers and Clerks in the United States? If you’re thinking about changing careers, these fields are worth exploring:

  • Eligibility Interviewers, Government Programs
  • Credit Analysts
  • Procurement Clerks

References

Bureau of Labor Statistics

College Factual

O*NET Online

Image Credit: Via Wikimedia Commons

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