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Loan Interviewers and Clerks
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.
Table of Contents
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.
- Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- Submit loan applications with recommendation for underwriting approval.
Salary
Loan Interviewers and Clerks with little to no experience tend to make between $25600 and $32370 while the more experienced ones can earn over $49510 per year.
| Top 5 paying states | Hourly | Annual |
|---|---|---|
| DC | $27 | $55,320 |
| CT | $23 | $48,160 |
| HI | $23 | $47,970 |
| CO | $23 | $47,630 |
| CA | $22 | $46,480 |
One 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, CT, HI, CO and CA.
However, a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be twice as high than where you are currently at now.
Three 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.
Requirements
We asked other Loan Interviewers and Clerks what degree they had when they got the job and most of them said they had a High School Diploma followed by a Bachelor’s Degree.
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 |
Pros and Cons
Here are some of the pros and cons of being a Loan Interviewer and Clerk.
| PROS |
|---|
| Suitable for people who likes to follow routines |
| Suitable for people who values relationships between co-workers and customers and wants to work in a friendly non-competitive environment |
| This career is perfect for people who love to work indoors. |
| It is not too difficult to get into this career. Previous work-related 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 |
What is the job like
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
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.
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Related 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, careers in Office and Administration
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