What Do Loan Interviewers and Clerks Do: Job Description, Responsibilities and Duties

Stanley TanLeave a Comment



daily life of a Loan Interviewer and Clerk
are Loan Interviewers and Clerks happy with their job

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



Being A Loan Interviewer and Clerk: What You Really Do


In this job description guide, you will find out what do Loan Interviewers and Clerks do and what is their typical work day like.

After reading this, you will have a much better idea on whether you will like working as a Loan Interviewer and Clerk or not.



Job summary

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.

We asked Loan Interviewers and Clerks how satisfied they are with their job. Here is what they said.

Job satisfaction

65%

How meaningful is this job

42%


65% of them said they were satisfied with their job and 42% said they find that their job makes the world a better place or helps to make someone else’s life better.



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Typical day

On a daily basis, Loan Interviewers and Clerks Verify and examine information and accuracy of loan application and closing documents. They Interview loan applicants to obtain personal and financial data and to assist in completing applications.

1 of the main responsibilities as A Loan Interviewer and Clerk is to Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.

Some may also Answer questions and advise customers regarding loans and transactions.

In a normal work day, another thing that Loan Interviewers and Clerks do is they Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.

In addition to that, they Record applications for loan and credit, loan information, and disbursements of funds, using computers..

A typical day for A Loan Interviewer and Clerk look like this:

Verify accuracy of financial or transactional data.
Interview employees, customers, or others to collect information.
Compile data or documentation.

We asked some Loan Interviewers and Clerks a few questions to find out what else does their work day look like. Here is what we found.

Do you have telephone conversations everyday in this job?99% said yes
Do you have to use email everyday in this job?52% said yes
How important is it to work in a team in this job?72% said very important
Do you have group discussions everyday in this job?96% said yes
Do you have to meet strict deadlines everyday in this job?77% said yes
Do you talk or work with customers everyday in this job?74% said yes
Do you have to deal with angry customers everyday in this job?43% said yes
Do you have to make decisions everyday in this job?66% said yes



Other responsibilities

Besides the “typical day” things that Loan Interviewers and Clerks do, they Schedule and conduct closings of mortgage transactions. They might also Submit loan applications with recommendation for underwriting approval.

On a weekly to monthly basis, Loan Interviewers and Clerks Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property. and Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.

In addition, they Establish credit limits and grant extensions of credit on overdue accounts.

A typical week or month for them might include:

Schedule appointments.
Prepare documentation for contracts, transactions, or regulatory compliance.
Arrange insurance coverage.
Monitor financial information.
Negotiate financial arrangements.



Working life

Working hours

40 hours per week

Working schedule

Regular (Set schedule and routine)


In a typical work week as A Loan Interviewer and Clerk, you can expect to work 40 hours per week.

Do Loan Interviewers and Clerks work in an office-style work environment?

Everyday
95.37%

Once a week
0%

Once a month
0%

Once a year
0%

Never
4.63%

Do Loan Interviewers and Clerks work in a warehouse-style work environment?

Everyday
0%

Once a week
0%

Once a month
0.49%

Once a year
0.26%

Never
99.25%

Do Loan Interviewers and Clerks work outdoors?

Everyday
0%

Once a week
0.28%

Once a month
0.27%

Once a year
1.14%

Never
98.31%



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.

You will like this career if you are someone who likes following set procedures and routines. They like working with data and details more than with ideas.

You 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.



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Rank: C
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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+
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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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Is This Right For Me

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Related to Loan Interviewers and Clerks Job Description

Loan Interviewers and Clerks job description, what do Loan Interviewers and Clerks do, typical day for Loan Interviewers and Clerks, what is it like to work as a Loan Interviewer and Clerk, how many hours do Loan Interviewers and Clerks work, day to day work of a Loan Interviewer and Clerk

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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