What is 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.
A Day in the Life of a Loan Interviewer or Clerk
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- Verify and examine information and accuracy of loan application and closing documents.
- Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
- Check value of customer collateral to be held as loan security.
- Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
- Answer questions and advise customers regarding loans and transactions.
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What Every Loan Interviewer or Clerk Should Know
These are the skills Loan Interviewers and Clerks say are the most useful in their careers:
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.
Complex Problem Solving: Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Types of Loan Interviewer or Clerk
- Closer
- Loan Closer
- Loan Originator
- Mortgage Closing Clerk
- Loan Secretary
Job Demand for Loan Interviewers and Clerks
In the United States, there were 229,800 jobs for Loan Interviewer or Clerk in 2016. New jobs are being produced at a rate of 12.4% which is above the national average. The Bureau of Labor Statistics predicts 28,400 new jobs for Loan Interviewer or Clerk by 2026. The BLS estimates 25,700 yearly job openings in this field.
The states with the most job growth for Loan Interviewer or Clerk are Utah, Arizona, and Iowa. Watch out if you plan on working in Alaska, West Virginia, or Vermont. These states have the worst job growth for this type of profession.
Do Loan Interviewers and Clerks Make A Lot Of Money?
The salary for Loan Interviewers and Clerks ranges between about $25,600 and $59,710 a year.
Loan Interviewers and Clerks who work in District of Columbia, Connecticut, or Colorado, make the highest salaries.
How much do Loan Interviewers and Clerks make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
| Alabama | $33,910 |
| Alaska | $42,190 |
| Arizona | $40,530 |
| Arkansas | $39,000 |
| California | $46,480 |
| Colorado | $47,630 |
| Connecticut | $48,160 |
| Delaware | $38,830 |
| District of Columbia | $55,320 |
| Florida | $41,590 |
| Georgia | $37,910 |
| Hawaii | $47,970 |
| Idaho | $37,450 |
| Illinois | $42,440 |
| Indiana | $36,370 |
| Iowa | $37,930 |
| Kansas | $39,880 |
| Kentucky | $36,350 |
| Louisiana | $32,660 |
| Maine | $36,620 |
| Maryland | $45,030 |
| Massachusetts | $43,030 |
| Michigan | $39,490 |
| Minnesota | $42,250 |
| Mississippi | $32,290 |
| Missouri | $38,350 |
| Montana | $36,630 |
| Nebraska | $41,610 |
| Nevada | $39,240 |
| New Hampshire | $40,060 |
| New Jersey | $45,770 |
| New Mexico | $34,430 |
| New York | $45,520 |
| North Carolina | $42,540 |
| North Dakota | $42,990 |
| Ohio | $38,510 |
| Oklahoma | $34,100 |
| Oregon | $46,040 |
| Pennsylvania | $34,790 |
| Rhode Island | $41,460 |
| South Carolina | $38,560 |
| South Dakota | $34,820 |
| Tennessee | $39,060 |
| Texas | $44,190 |
| Utah | $39,710 |
| Vermont | $40,190 |
| Virginia | $42,990 |
| Washington | $44,570 |
| West Virginia | $32,200 |
| Wisconsin | $40,110 |
| Wyoming | $39,120 |
What Tools do Loan Interviewers and Clerks Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Loan Interviewers and Clerks:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Dynamics
- Desktop publishing software
How do I Become a Loan Interviewer or Clerk?
What education is needed to be a Loan Interviewer or Clerk?
What work experience do I need to become a Loan Interviewer or Clerk?
Who Employs Loan Interviewers and Clerks?
The table below shows the approximate number of Loan Interviewers and Clerks employed by various industries.
Similar Careers
Those thinking about becoming a Loan Interviewer or Clerk might also be interested in the following careers:
Those who work as a Loan Interviewer or Clerk sometimes switch careers to one of these choices:
- Eligibility Interviewers, Government Programs
- Credit Analysts
- Claims Examiners, Property and Casualty Insurance
- Procurement Clerks
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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