Loan Officers

What Does a Loan Officers 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.

Day-to-Day Responsibilities

• 1Meet with applicants to obtain information for loan applications and to answer questions about the process.
• 2Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
• 3Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
• 4Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
• 5Submit applications to credit analysts for verification and recommendation.
• 6Review loan agreements to ensure that they are complete and accurate according to policy.
• 7Review and update credit and loan files.
• 8Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.

Required Skills

• Active Listening
• Speaking
• Reading Comprehension
• Critical Thinking
• 1003 Uniform Residential Loan Application
• Amortization loan software
• Bankers Systems Rembrandt Lending System
• Bottom Line LoanMaster Loan Servicing
• California Infinite LPS
• Calyx Point
• CGI-AMS BureauLink Enterprise
• CGI-AMS CACS Enterprise
• CGI-AMS Strata
• Click1003 Online Mortgage Application

Loan Officers Salary