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Loan Counselors
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CheckoutCareers.com
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Loan Counselors
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Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
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Degrees
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Abilities
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Near Vision| | The ability to see details at close range (within a few feet of the observer). |
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Oral Comprehension| | The ability to listen to and understand information and ideas presented through spoken words and sentences. |
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Written Comprehension| | The ability to read and understand information and ideas presented in writing. |
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Deductive Reasoning| | The ability to apply general rules to specific problems to produce answers that make sense. |
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Speech Recognition| | The ability to identify and understand the speech of another person. |
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Oral Expression| | The ability to communicate information and ideas in speaking so others will understand. |
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Speech Clarity| | The ability to speak clearly so others can understand you. |
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Problem Sensitivity| | The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem. |
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Written Expression| | The ability to communicate information and ideas in writing so others will understand. |
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Fluency of Ideas| | The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity). |
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Inductive Reasoning| | The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). |
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Information Ordering| | The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations). |
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Number Facility| | The ability to add, subtract, multiply, or divide quickly and correctly. |
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Category Flexibility| | The ability to generate or use different sets of rules for combining or grouping things in different ways. |
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Mathematical Reasoning| | The ability to choose the right mathematical methods or formulas to solve a problem. |
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Originality| | The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem. |
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Flexibility of Closure| | The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material. |
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Perceptual Speed| | The ability to quickly and accurately compare similarities and differences among sets of letters, numbers, objects, pictures, or patterns. The things to be compared may be presented at the same time or one after the other. This ability also includes comparing a presented object with a remembered object. |
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Selective Attention| | The ability to concentrate on a task over a period of time without being distracted. |
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Time Sharing| | The ability to shift back and forth between two or more activities or sources of information (such as speech, sounds, touch, or other sources). |
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Memorization| | The ability to remember information such as words, numbers, pictures, and procedures. |
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Speed of Closure| | The ability to quickly make sense of, combine, and organize information into meaningful patterns. |
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Auditory Attention| | The ability to focus on a single source of sound in the presence of other distracting sounds. |
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Far Vision| | The ability to see details at a distance. |
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Visualization| | The ability to imagine how something will look after it is moved around or when its parts are moved or rearranged. |
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Finger Dexterity| | The ability to make precisely coordinated movements of the fingers of one or both hands to grasp, manipulate, or assemble very small objects. |
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Hearing Sensitivity| | The ability to detect or tell the differences between sounds that vary in pitch and loudness. |
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Visual Color Discrimination| | The ability to match or detect differences between colors, including shades of color and brightness. |
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Control Precision| | The ability to quickly and repeatedly adjust the controls of a machine or a vehicle to exact positions. |
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Depth Perception| | The ability to judge which of several objects is closer or farther away from you, or to judge the distance between you and an object. |
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Multilimb Coordination| | The ability to coordinate two or more limbs (for example, two arms, two legs, or one leg and one arm) while sitting, standing, or lying down. It does not involve performing the activities while the whole body is in motion. |
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Reaction Time| | The ability to quickly respond (with the hand, finger, or foot) to a signal (sound, light, picture) when it appears. |
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Trunk Strength| | The ability to use your abdominal and lower back muscles to support part of the body repeatedly or continuously over time without 'giving out' or fatiguing. |
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Gross Body Coordination| | The ability to coordinate the movement of your arms, legs, and torso together when the whole body is in motion. |
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Peripheral Vision| | The ability to see objects or movement of objects to one's side when the eyes are looking ahead. |
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Response Orientation| | The ability to choose quickly between two or more movements in response to two or more different signals (lights, sounds, pictures). It includes the speed with which the correct response is started with the hand, foot, or other body part. |
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Wrist-Finger Speed| | The ability to make fast, simple, repeated movements of the fingers, hands, and wrists. |
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Interests
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Enterprising| | Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business. |
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Third Interest High-Point| | Tertiary-Cutoff/Rank Descriptiveness |
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Social| | Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others. |
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First Interest High-Point| | Primary-Rank Descriptiveness |
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Conventional| | Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow. |
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Second Interest High-Point| | Secondary-Cutoff/Rank Descriptiveness |
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Investigative| | Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally. |
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Artistic| | Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules. |
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Realistic| | Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others. |
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Knowledge
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Customer and Personal Service| | Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction. |
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Clerical| | Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology. |
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Economics and Accounting| | Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data. |
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Administration and Management| | Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources. |
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Law and Government| | Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process. |
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Mathematics| | Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications. |
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English Language| | Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. |
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Education and Training| | Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects. |
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Psychology| | Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders. |
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Sales and Marketing| | Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems. |
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Personnel and Human Resources| | Knowledge of principles and procedures for personnel recruitment, selection, training, compensation and benefits, labor relations and negotiation, and personnel information systems. |
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Public Safety and Security| | Knowledge of relevant equipment, policies, procedures, and strategies to promote effective local, state, or national security operations for the protection of people, data, property, and institutions. |
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Production and Processing| | Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods. |
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Fine Arts| | Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture. |
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Computers and Electronics| | Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming. |
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Sociology and Anthropology| | Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins. |
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Transportation| | Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits. |
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Communications and Media| | Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media. |
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Philosophy and Theology| | Knowledge of different philosophical systems and religions. This includes their basic principles, values, ethics, ways of thinking, customs, practices, and their impact on human culture. |
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Design| | Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models. |
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Building and Construction| | Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads. |
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Therapy and Counseling| | Knowledge of principles, methods, and procedures for diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and for career counseling and guidance. |
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Foreign Language| | Knowledge of the structure and content of a foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation. |
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Telecommunications| | Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems. |
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Engineering and Technology| | Knowledge of the practical application of engineering science and technology. This includes applying principles, techniques, procedures, and equipment to the design and production of various goods and services. |
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Geography| | Knowledge of principles and methods for describing the features of land, sea, and air masses, including their physical characteristics, locations, interrelationships, and distribution of plant, animal, and human life. |
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Chemistry| | Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods. |
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Mechanical| | Knowledge of machines and tools, including their designs, uses, repair, and maintenance. |
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Wages
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| District of Columbia | $36,060.00 |
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| North Carolina | $31,720.00 |
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| South Carolina | $32,480.00 |
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Related Careers
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Billing, Cost, & Rate Clerks| | Compile data, compute fees and charges, and prepare invoices for billing purposes. Duties include computing costs and calculating rates for goods, services, and shipment of goods; posting data; and keeping other relevant records. May involve use of computer or typewriter, calculator, and adding and bookkeeping machines. |
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Brokerage Clerks| | Perform clerical duties involving the purchase or sale of securities. Duties include writing orders for stock purchases and 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. |
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Credit Analysts| | Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making. |
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Financial Analysts| | Conduct quantitative analyses of information affecting investment programs of public or private institutions. |
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Loan Interviewers & 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. |
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New Accounts Clerks| | Interview persons desiring to open bank accounts. Explain banking services available to prospective customers and assist them in preparing application form. |
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Personal Financial Advisors| | Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives to establish investment strategies. |
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Tax Examiners, Collectors, & Revenue Agents| | Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations. |
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Tax Preparers| | Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant. |
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Tellers| | Receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions. |
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Skills
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Active Listening| | Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times. |
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Service Orientation| | Actively looking for ways to help people. |
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Speaking| | Talking to others to convey information effectively. |
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Reading Comprehension| | Understanding written sentences and paragraphs in work related documents. |
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Coordination| | Adjusting actions in relation to others' actions. |
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Instructing| | Teaching others how to do something. |
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Time Management| | Managing one's own time and the time of others. |
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Writing| | Communicating effectively in writing as appropriate for the needs of the audience. |
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Critical Thinking| | Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems. |
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Mathematics| | Using mathematics to solve problems. |
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Persuasion| | Persuading others to change their minds or behavior. |
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Judgment and Decision Making| | Considering the relative costs and benefits of potential actions to choose the most appropriate one. |
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Active Learning| | Understanding the implications of new information for both current and future problem-solving and decision-making. |
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Monitoring| | Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action. |
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Social Perceptiveness| | Being aware of others' reactions and understanding why they react as they do. |
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Learning Strategies| | Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things. |
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Complex Problem Solving| | Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions. |
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Negotiation| | Bringing others together and trying to reconcile differences. |
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Systems Evaluation| | Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system. |
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Management of Personnel Resources| | Motivating, developing, and directing people as they work, identifying the best people for the job. |
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Operations Analysis| | Analyzing needs and product requirements to create a design. |
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Management of Financial Resources| | Determining how money will be spent to get the work done, and accounting for these expenditures. |
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Equipment Selection| | Determining the kind of tools and equipment needed to do a job. |
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Quality Control Analysis| | Conducting tests and inspections of products, services, or processes to evaluate quality or performance. |
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Operation and Control| | Controlling operations of equipment or systems. |
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Troubleshooting| | Determining causes of operating errors and deciding what to do about it. |
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Systems Analysis| | Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes. |
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Installation| | Installing equipment, machines, wiring, or programs to meet specifications. |
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Programming| | Writing computer programs for various purposes. |
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Technology Design| | Generating or adapting equipment and technology to serve user needs. |
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Operation Monitoring| | Watching gauges, dials, or other indicators to make sure a machine is working properly. |
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Management of Material Resources| | Obtaining and seeing to the appropriate use of equipment, facilities, and materials needed to do certain work. |
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Science| | Using scientific rules and methods to solve problems. |
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Equipment Maintenance| | Performing routine maintenance on equipment and determining when and what kind of maintenance is needed. |
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Repairing| | Repairing machines or systems using the needed tools. |
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Tasks
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| Confer with underwriters to resolve mortgage application problems. |
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| Check loan agreements to ensure that they are complete and accurate, according to policies. |
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| Refer loans to loan committees for approval. |
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| Approve loans within specified limits. |
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| Submit applications to credit analysts for verification and recommendation. |
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| Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans. |
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| Interview applicants and request specified information for loan applications. |
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| Establish payment priorities according to credit terms and interest rates in order to reduce clients' overall costs. |
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| Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork. |
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| Inform individuals and groups about the financial assistance available to college or university students. |
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| Maintain current knowledge of credit regulations. |
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| Match students' needs and eligibility with available financial aid programs in order to provide informed recommendations. |
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| Contact creditors to explain clients' financial situations and to arrange for payment adjustments so that payments are feasible for clients and agreeable to creditors. |
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| Calculate amount of debt and funds available in order to plan methods of payoff and to estimate time for debt liquidation. |
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| Analyze potential loan markets to find opportunities to promote loans and financial services. |
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| Review billing for accuracy. |
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| Supervise loan personnel. |
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| Assist in selection of financial award candidates, using electronic databases to certify loan eligibility. |
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| Maintain and review account records, updating and recategorizing them according to status changes. |
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| Petition courts to transfer titles and deeds of collateral to banks. |
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| Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans. |
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| Compare data on student aid applications with eligibility requirements of assistance programs. |
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| Counsel clients on personal and family financial problems, such as excessive spending and borrowing of funds. |
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| Review accounts to determine write-offs for collection agencies. |
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| Locate debtors using post office directories, utility services account listings, and mailing lists. |
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| Arrange for maintenance and liquidation of delinquent properties. |
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| Authorize and sign mail collection letters. |
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| Open accounts for clients and disburse funds from clients' accounts to creditors. |
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Tools
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| Autodialers |
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| Personal computers |
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Technology
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| Data base user interface and query software |
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| Data entry software |
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| EDExpress |
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| ELM Resources ELM |
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| EMT Applications CounselorMax |
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| Financial aid management system FAM software |
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| Microsoft Access |
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| Student information systems SIS |
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| SunGard Higher Education Banner Financial Aid |
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| Sungard Higher Education PowerFAIDS |
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| Electronic mail software |
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| Microsoft Outlook |
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| Enterprise resource planning ERP software |
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| Datatel Colleague (financial aid application) |
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| Internet browser software |
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| Microsoft Internet Explorer |
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| Web browser software |
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| Office suite software |
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| Microsoft Office |
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| Presentation software |
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| Microsoft PowerPoint |
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| Spreadsheet software |
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| Microsoft Excel |
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| Word processing software |
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| Microsoft Word |
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Career Activities
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| Communicating with Persons Outside Organization |
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| interview customers |
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| write legal correspondence |
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| Getting Information |
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| gather relevant financial data |
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| obtain financial information from individuals |
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| obtain information from individuals |
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| review laws |
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| Updating and Using Relevant Knowledge |
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| use interviewing procedures |
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| use knowledge of investigation techniques |
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| use knowledge of relevant laws |
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| use negotiation techniques |
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| use oral or written communication techniques |
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| Provide Consultation and Advice to Others |
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| advise clients on financial matters |
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| advise clients or customers |
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| advise families with household problems |
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| recommend customer payment plan |
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| Analyzing Data or Information |
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| analyze applicant's financial status |
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| analyze financial data |
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| analyze market conditions |
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| conduct financial investigations |
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| conduct market research |
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| evaluate degree of financial risk |
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| Performing for or Working Directly with the Public |
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| provide customer service |
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| Communicating with Supervisors, Peers, or Subordinates |
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| consult with managerial or supervisory personnel |
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| Resolving Conflicts and Negotiating with Others |
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| negotiate payment arrangements with customers |
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| Documenting/Recording Information |
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| complete information on loan forms |
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| maintain account records |
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| Coordinating the Work and Activities of Others |
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| direct and coordinate activities of workers or staff |
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| direct and coordinate financial activities |
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| Performing Administrative Activities |
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| file documents in court |
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| Monitor Processes, Materials, or Surroundings |
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| monitor consumer or marketing trends |
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| Monitoring and Controlling Resources |
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| account for or dispense funds |
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| collect overdue bills |
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| monitor credit extension decisions |
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| Interpreting the Meaning of Information for Others |
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| explain credit application information |
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| Judging the Qualities of Things, Services, or People |
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| identify potential markets |
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| Interacting With Computers |
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| use computers to enter, access and retrieve financial data |
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| use computers to enter, access or retrieve data |
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| use spreadsheet software |
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| use word processing or desktop publishing software |
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| Processing Information |
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| compile information for court cases |
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| compute financial data |
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| compute payment schedule |
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| compute property equity |
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| evaluate customer records |
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| review loan applications |
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| verify information for credit investigations |
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| Making Decisions and Solving Problems |
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| approve or deny loans |
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| determine program eligibility |
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| make decisions |
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| Evaluating Information to Determine Compliance with Standards |
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| examine documents for completeness, accuracy, or conformance to standards |
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| Staffing Organizational Units |
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| evaluate qualifications or eligibility of applicant for employment |
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| select applicants meeting qualifications |
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| Performing General Physical Activities |
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| maintain physical building or grounds of property |
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Career Context
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| Face-to-Face Discussions |
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| Telephone |
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| Spend Time Sitting |
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| Contact With Others |
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| Letters and Memos |
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| Freedom to Make Decisions |
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| Structured versus Unstructured Work |
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| Indoors, Environmentally Controlled |
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| Sounds, Noise Levels Are Distracting or Uncomfortable |
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| Time Pressure |
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| In an Enclosed Vehicle or Equipment |
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| Electronic Mail |
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| Level of Competition |
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| Deal With External Customers |
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| Importance of Being Exact or Accurate |
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| Importance of Repeating Same Tasks |
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| Frequency of Decision Making |
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| Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or Controls |
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| Impact of Decisions on Co-workers or Company Results |
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| Coordinate or Lead Others |
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| Work With Work Group or Team |
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| Deal With Unpleasant or Angry People |
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| Consequence of Error |
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| Degree of Automation |
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| Responsibility for Outcomes and Results |
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| Frequency of Conflict Situations |
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| Spend Time Making Repetitive Motions |
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Career Styles
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Integrity| | Job requires being honest and ethical. |
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Stress Tolerance| | Job requires accepting criticism and dealing calmly and effectively with high stress situations. |
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Adaptability/Flexibility| | Job requires being open to change (positive or negative) and to considerable variety in the workplace. |
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Initiative| | Job requires a willingness to take on responsibilities and challenges. |
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Cooperation| | Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude. |
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Dependability| | Job requires being reliable, responsible, and dependable, and fulfilling obligations. |
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Concern for Others| | Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job. |
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Attention to Detail| | Job requires being careful about detail and thorough in completing work tasks. |
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Self Control| | Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations. |
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Social Orientation| | Job requires preferring to work with others rather than alone, and being personally connected with others on the job. |
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Analytical Thinking| | Job requires analyzing information and using logic to address work-related issues and problems. |
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Achievement/Effort| | Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks. |
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Persistence| | Job requires persistence in the face of obstacles. |
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Innovation| | Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems. |
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Independence| | Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done. |
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Leadership| | Job requires a willingness to lead, take charge, and offer opinions and direction. |
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