Loan Interviewers and Clerks: Salary, Job Description, How To Be One and More

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Loan Interviewers and Clerks jobs information
pros and cons of being a Loan Interviewer and Clerk

Loan Interviewers and Clerks

Other names for this job might include Administrative Assistant, Closer, Closing Agent, Closing Coordinator, Credit Clerk, Disbursement Clerk, Document Coordinator, Document Processor, Eligibility Clerk, Funding Specialist


  • $39210
    Salary
  • 65%
    Job satisfaction
  • Medium
    Becoming one
  • Medium
    Job growth
OwlGuru Rank

C



Loan Interviewers and Clerks: Know It All In 1 Minute


In this career summary, you will find out what the job of A Loan Interviewer and Clerk is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

Loan Interviewers and Clerks 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.

  • Verify and examine information and accuracy of loan application and closing documents.
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.
  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
  • Answer questions and advise customers regarding loans and transactions.

Read more about what does A Loan Interviewer and Clerk really do at work and what is it like being and working as one.


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Salary

Average salary
$39210 per year

Hourly wage
$18.85 an hour


Loan Interviewers and Clerks with little to no experience tend to make between $24920 and $30480 while the more experienced ones make over $46720 per year.

Top 5 paying statesHourlyAnnual
DC$21.77$45280
MA$21.48$44690
CO$21.27$44250
TX$21.24$44180
CA$20.91$43490

1 of the easiest ways to increase your salary as A Loan Interviewer and Clerk is to move to a higher paying state like DC. Right now, the highest paying states for Loan Interviewers and Clerks are DC, MA, CO, TX and CA.

However a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be 2x higher than where you are currently at now.

3 other factors that can increase your salary as A Loan Interviewer and Clerk is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).

Find out how much do successful Loan Interviewers and Clerks make and if their salary is high when compared to all the other careers.


Requirements

Recommended degree level
Associate’s Degree (or other 2-year degree)

We asked other Loan Interviewers and Clerks what degree they had when they got the job and most of them said they had a Associates degree followed by High School Diploma.

Other than that we also asked them what did they major in and here are the most popular majors that came up.

Banking and Financial Support Services

Another popular question from our readers is what makes A Loan Interviewer and Clerk successful or would they be good in this career.

Well, we found that most successful Loan Interviewers and Clerks have these 5 skillsets.

Active Listening
Speaking
Reading Comprehension
Writing
Critical Thinking

In addition to that, 1 common characteristic among successful Loan Interviewers and Clerks is they are good at Dependability. Here are the top 5 common characteristics.

Dependability
Attention to Detail
Integrity
Cooperation
Initiative
= Hot in-demand that most employers are looking for

Read more about what it really takes to become A Loan Interviewer and Clerk and the degree, training and education you need


Pros and Cons

Here are some reasons why you should and shouldn’t choose A Loan Interviewer and Clerk as your career.

PROS
Suitable for people who likes to follow routines
Suitable for people who values relationships between coworkers and customers and wants to work in a friendly noncompetitive environment
This career is perfect for people who love to work indoors.
It is not too difficult to get into this career. Previous workrelated skill, knowledge, or experience is required for this career.
Normal working hours (40 hours per week)
CONS
Not suitable for people who likes to work with designs
Salary is below average


There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.

A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.



What is the job like

Job satisfaction
65%

Is this job meaningful
42%


Working hours
40 hours per week

Working schedule
Regular (Set schedule and routine)


On a normal working week Loan Interviewers and Clerks work 40 hours per week.

65% of Loan Interviewers and Clerks said they were satisfied with their job and 42% said they feel like their job is making other people’s lives better.



Is this right for me

Best personality for this career
The Organizers and The Persuaders


You can read more about these career personality types here.

People who are suitable for this job tends to like following set procedures and routines. They like working with data and details more than with ideas.

They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.



How we can help

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Rank: C
Salary: $50120

They perform duties related to the purchase, sale or holding of securities. Duties include writing orders for stock purchases or sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity, distributing dividends, and keeping records of daily transactions and holdings.
Rank: B
Salary: $56890

They determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
Rank: A
Salary: $73670

They 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, and loan underwriters.
Rank: C+
Salary: $43870

They prepare tax returns for individuals or small businesses.
Rank: C+
Salary: $38070

They compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.






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Career type

Office and Administration
Banking and Related Services

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Related to Loan Interviewers and Clerks Career Information

Loan Interviewers and Clerks job description, Loan Interviewers and Clerks salary, Loan Interviewers and Clerks information, what is the job of a Loan Interviewer and Clerk like, pros and cons about Loan Interviewers and Clerks, colleges and universities for Loan Interviewers and Clerks, is Loan Interviewers and Clerks the right career for me, Medium careers to get into, careers in Office and Administration

Additional resources

http://www.bls.gov/OOH/office-and-administrative-support/financial-clerks.htm
http://www.aba.com/
https://www.mba.org/

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Loan Interviewers and Clerks
Written by: Stanley Tan
Loan Interviewers and Clerks 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.
3.5 / 5 stars

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