Loan Officers

customer complaint financial information conventional interests service loan payment method mortgage loan officer applicant financial record

Commercial Loan Officer, Financial Aid Counselor, Loan Counselor, Loan Officer

What they do:
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.
On the job, you would:
  • Meet with applicants to obtain information for loan applications and to answer questions about the process.
  • Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  • Approve loans within specified limits, and refer loan applications outside those limits to management for approval.

Knowledge

Business

  • customer service
  • accounting and economics

Arts and Humanities

  • English language

Math and Science

  • arithmetic, algebra, geometry, calculus, or statistics

Safety and Government

  • law and government

Skills

Basic Skills

  • listening to others, not interrupting, and asking good questions
  • talking to others

Problem Solving

  • noticing a problem and figuring out the best way to solve it

Abilities

Verbal

  • communicate by speaking
  • listen and understand what people say

Math

  • add, subtract, multiply, or divide
  • choose the right type of math to solve a problem

Ideas and Logic

  • make general rules or come up with answers from lots of detailed information
  • notice when problems happen

Personality

People interested in this work like activities that include data, detail, and regular routines.

They do well at jobs that need:

  • Integrity
  • Dependability
  • Cooperation
  • Attention to Detail
  • Adaptability/Flexibility
  • Initiative

Technology

You might use software like this on the job:

Data base user interface and query software

  • FileMaker Pro
  • Microsoft Access Hot Technology

Video conferencing software

  • Zoom Hot Technology

Financial analysis software

  • Delphi Discovery
  • White Clarke North America Credit Adjudication and Lending Management

Education

Education: (rated 4 of 5)
bachelor's degree or
some college
usually needed

Get started on your career:

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Job Outlook

Average
New job opportunities are likely in the future.
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See more details at O*NET OnLine about loan officers.