Expand mobile version menu

Loan Interviewer/Clerk  What They Do

Just the Facts

Interviews loan applicants to elicit information; investigates applicants' backgrounds and verifies references; prepares loan request papers; and forwards findings, reports, and documents to appraisal department. Reviews loan papers to ensure completeness, and completes transactions between loan establishment, borrowers, and sellers upon approval of loan.

This career is part of the Finance cluster Banking Services pathway.

A person in this career:

  • Verifies and examines information and accuracy of loan application and closing documents.
  • Interviews loan applicants to obtain personal and financial data and to assist in completing applications.
  • Assembles and compiles documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Answers questions and advises customers regarding loans and transactions.
  • Contacts customers by mail, telephone, or in person concerning acceptance or rejection of applications.
  • Records applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Prepares and types loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
  • Presents loan and repayment schedules to customers.
  • Calculates, reviews, and corrects errors on interest, principal, payment, and closing costs, using computers or calculators.
  • Checks value of customer collateral to be held as loan security.

Working Conditions and Physical Demands

People who do this job report that:

  • You would sit most of the time. There's some walking and standing. You may have to lift and carry things like books, papers or tools weighing 10 lbs. or less.
  • Exposed to hazardous situations involving possible injury such as cuts, bites, stings, and minor burns more than once a month
  • Work in this occupation requires being inside most of the time
  • Work in this occupation involves sitting more than one-third of the time

Working in this career involves (physical activities):

  • Seeing clearly up close
  • Speaking clearly enough to be able to be understood by others
  • Identifying and understanding the speech of another person

Work Hours and Travel

  • Regular working hours and limited travel

Specialty and Similar Careers

Careers that are more detailed or close to this career:

  • Administrative Assistant -- Aids executive in staff capacity by coordinating office services, such as personnel, budget preparation and control, housekeeping, records control, and special management studies.
  • Eligibility Clerk -- Determines eligibility of persons applying to receive assistance.