What Does it Take to Be a Loan Interviewer or Clerk?
Job Description: 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.
Life As a Loan Interviewer or Clerk
- File and maintain loan records.
- Interview loan applicants to obtain personal and financial data and to assist in completing applications.
- 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.
- Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
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What Skills Do You Need to Work as a Loan Interviewer or Clerk?
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.
Other Loan Interviewer or Clerk Job Titles
- Loan Documentation Specialist
- Investigator
- Loan Analyst
- Mortgage Loan Interviewer
- Mortgage Clerk
What Kind of Loan Interviewer or Clerk Job Opportunities Are There?
There were about 229,800 jobs for Loan Interviewer or Clerk in 2016 (in the United States). 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 average yearly salary of a Loan Interviewer or Clerk ranges between $25,600 and $59,710.
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 different U.S. states?
| 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 & Technology 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 to Become a Loan Interviewer or Clerk
What kind of Loan Interviewer or Clerk requirements are there?
How many years of work experience do I need?
Where Loan Interviewers and Clerks Work
The table below shows some of the most common industries where those employed in this career field work.
You May Also Be Interested In…
Those interested in being a Loan Interviewer or Clerk may also be interested in:
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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