|
|
Loan Officers
|
|
|
|
CheckoutCareers.com
: : |
|
|
Loan Officers
|
|
| |
|
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
| |
|
| |
|
|
|
|
Degrees
|
|
|
|
|
|
Abilities
|
|
|
Oral Expression| | The ability to communicate information and ideas in speaking so others will understand. |
|
|
Near Vision| | The ability to see details at close range (within a few feet of the observer). |
|
|
Oral Comprehension| | The ability to listen to and understand information and ideas presented through spoken words and sentences. |
|
|
Written Comprehension| | The ability to read and understand information and ideas presented in writing. |
|
|
Deductive Reasoning| | The ability to apply general rules to specific problems to produce answers that make sense. |
|
|
Inductive Reasoning| | The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). |
|
|
Speech Recognition| | The ability to identify and understand the speech of another person. |
|
|
Written Expression| | The ability to communicate information and ideas in writing so others will understand. |
|
|
Mathematical Reasoning| | The ability to choose the right mathematical methods or formulas to solve a problem. |
|
|
Speech Clarity| | The ability to speak clearly so others can understand you. |
|
|
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. |
|
|
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). |
|
|
Category Flexibility| | The ability to generate or use different sets of rules for combining or grouping things in different ways. |
|
|
Number Facility| | The ability to add, subtract, multiply, or divide quickly and correctly. |
|
|
Selective Attention| | The ability to concentrate on a task over a period of time without being distracted. |
|
|
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. |
|
|
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). |
|
|
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. |
|
|
Memorization| | The ability to remember information such as words, numbers, pictures, and procedures. |
|
|
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). |
|
|
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. |
|
|
Auditory Attention| | The ability to focus on a single source of sound in the presence of other distracting sounds. |
|
|
Speed of Closure| | The ability to quickly make sense of, combine, and organize information into meaningful patterns. |
|
|
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. |
|
|
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. |
|
|
Manual Dexterity| | The ability to quickly move your hand, your hand together with your arm, or your two hands to grasp, manipulate, or assemble objects. |
|
|
Far Vision| | The ability to see details at a distance. |
|
|
Hearing Sensitivity| | The ability to detect or tell the differences between sounds that vary in pitch and loudness. |
|
|
Visual Color Discrimination| | The ability to match or detect differences between colors, including shades of color and brightness. |
|
|
Wrist-Finger Speed| | The ability to make fast, simple, repeated movements of the fingers, hands, and wrists. |
|
|
Arm-Hand Steadiness| | The ability to keep your hand and arm steady while moving your arm or while holding your arm and hand in one position. |
|
|
Control Precision| | The ability to quickly and repeatedly adjust the controls of a machine or a vehicle to exact positions. |
|
|
Visualization| | The ability to imagine how something will look after it is moved around or when its parts are moved or rearranged. |
|
|
|
|
|
|
Interests
|
|
|
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. |
|
|
Third Interest High-Point| | Tertiary-Cutoff/Rank Descriptiveness |
|
|
Social| | Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others. |
|
|
First Interest High-Point| | Primary-Rank Descriptiveness |
|
|
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. |
|
|
Second Interest High-Point| | Secondary-Cutoff/Rank Descriptiveness |
|
|
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. |
|
|
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. |
|
|
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. |
|
|
|
|
|
|
Knowledge
|
|
|
Economics and Accounting| | Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data. |
|
|
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. |
|
|
English Language| | Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. |
|
|
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. |
|
|
Mathematics| | Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications. |
|
|
Law and Government| | Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process. |
|
|
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. |
|
|
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. |
|
|
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. |
|
|
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. |
|
|
Computers and Electronics| | Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming. |
|
|
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. |
|
|
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. |
|
|
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. |
|
|
Production and Processing| | Knowledge of raw materials, production processes, quality control, costs, and other techniques for maximizing the effective manufacture and distribution of goods. |
|
|
Transportation| | Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits. |
|
|
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. |
|
|
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. |
|
|
Sociology and Anthropology| | Knowledge of group behavior and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins. |
|
|
Telecommunications| | Knowledge of transmission, broadcasting, switching, control, and operation of telecommunications systems. |
|
|
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. |
|
|
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. |
|
|
Food Production| | Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques. |
|
|
Mechanical| | Knowledge of machines and tools, including their designs, uses, repair, and maintenance. |
|
|
Design| | Knowledge of design techniques, tools, and principles involved in production of precision technical plans, blueprints, drawings, and models. |
|
|
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. |
|
|
History and Archeology| | Knowledge of historical events and their causes, indicators, and effects on civilizations and cultures. |
|
|
Biology| | Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment. |
|
|
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. |
|
|
Medicine and Dentistry| | Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures. |
|
|
Physics| | Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub- atomic structures and processes. |
|
|
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. |
|
|
Fine Arts| | Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture. |
|
|
|
|
|
|
Wages
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| District of Columbia | $67,860.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| North Carolina | $44,660.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Carolina | $46,240.00 |
|
|
|
|
|
|
|
|
|
|
|
|
| Virgin Islands | $41,900.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Related Careers
|
|
|
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. |
|
|
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. |
|
|
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. |
|
|
Financial Analysts| | Conduct quantitative analyses of information affecting investment programs of public or private institutions. |
|
|
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. |
|
|
New Accounts Clerks| | Interview persons desiring to open bank accounts. Explain banking services available to prospective customers and assist them in preparing application form. |
|
|
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. |
|
|
Tax Examiners, Collectors, & Revenue Agents| | Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations. |
|
|
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. |
|
|
Tellers| | Receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions. |
|
|
|
|
|
|
Skills
|
|
|
Social Perceptiveness| | Being aware of others' reactions and understanding why they react as they do. |
|
|
Instructing| | Teaching others how to do something. |
|
|
Speaking| | Talking to others to convey information effectively. |
|
|
Persuasion| | Persuading others to change their minds or behavior. |
|
|
Coordination| | Adjusting actions in relation to others' actions. |
|
|
Complex Problem Solving| | Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions. |
|
|
Learning Strategies| | Selecting and using training/instructional methods and procedures appropriate for the situation when learning or teaching new things. |
|
|
Service Orientation| | Actively looking for ways to help people. |
|
|
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. |
|
|
Critical Thinking| | Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems. |
|
|
Reading Comprehension| | Understanding written sentences and paragraphs in work related documents. |
|
|
Judgment and Decision Making| | Considering the relative costs and benefits of potential actions to choose the most appropriate one. |
|
|
Monitoring| | Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action. |
|
|
Active Learning| | Understanding the implications of new information for both current and future problem-solving and decision-making. |
|
|
Time Management| | Managing one's own time and the time of others. |
|
|
Negotiation| | Bringing others together and trying to reconcile differences. |
|
|
Writing| | Communicating effectively in writing as appropriate for the needs of the audience. |
|
|
Mathematics| | Using mathematics to solve problems. |
|
|
Quality Control Analysis| | Conducting tests and inspections of products, services, or processes to evaluate quality or performance. |
|
|
Operations Analysis| | Analyzing needs and product requirements to create a design. |
|
|
Management of Personnel Resources| | Motivating, developing, and directing people as they work, identifying the best people for the job. |
|
|
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. |
|
|
Management of Material Resources| | Obtaining and seeing to the appropriate use of equipment, facilities, and materials needed to do certain work. |
|
|
Management of Financial Resources| | Determining how money will be spent to get the work done, and accounting for these expenditures. |
|
|
Troubleshooting| | Determining causes of operating errors and deciding what to do about it. |
|
|
Technology Design| | Generating or adapting equipment and technology to serve user needs. |
|
|
Operation Monitoring| | Watching gauges, dials, or other indicators to make sure a machine is working properly. |
|
|
Operation and Control| | Controlling operations of equipment or systems. |
|
|
Systems Analysis| | Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes. |
|
|
Equipment Selection| | Determining the kind of tools and equipment needed to do a job. |
|
|
Installation| | Installing equipment, machines, wiring, or programs to meet specifications. |
|
|
Equipment Maintenance| | Performing routine maintenance on equipment and determining when and what kind of maintenance is needed. |
|
|
Science| | Using scientific rules and methods to solve problems. |
|
|
Programming| | Writing computer programs for various purposes. |
|
|
Repairing| | Repairing machines or systems using the needed tools. |
|
|
|
|
|
|
Tasks
|
|
|
| Approve loans within specified limits, and refer loan applications outside those limits to management for approval. |
|
| Meet with applicants to obtain information for loan applications and to answer questions about the process. |
|
| Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans. |
|
| Explain to customers the different types of loans and credit options that are available, as well as the terms of those services. |
|
| Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information. |
|
| Review and update credit and loan files. |
|
| Review loan agreements to ensure that they are complete and accurate according to policy. |
|
| Negotiate payment arrangements with customers who have delinquent loans. |
|
| Compute payment schedules. |
|
| Stay abreast of new types of loans and other financial services and products to better meet customers' needs. |
|
| Market bank products to individuals and firms, promoting bank services that may meet customers' needs. |
|
| Supervise loan personnel. |
|
| Submit applications to credit analysts for verification and recommendation. |
|
| Handle customer complaints and take appropriate action to resolve them. |
|
| Set credit policies, credit lines, procedures and standards in conjunction with senior managers. |
|
| Work with clients to identify their financial goals and to find ways of reaching those goals. |
|
| Confer with underwriters to aid in resolving mortgage application problems. |
|
| Provide special services such as investment banking for clients with more specialized needs. |
|
| Analyze potential loan markets and develop referral networks to locate prospects for loans. |
|
| Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action. |
|
| Arrange for maintenance and liquidation of delinquent properties. |
|
| Interview, hire, and train new employees. |
|
| Petition courts to transfer titles and deeds of collateral to banks. |
|
|
|
|
|
Tools
|
|
|
| Desktop computers |
|
| Notebook computers |
|
| Personal computers |
|
| Personal digital assistant PDAs or organizers |
|
| Personal digital assistant PDAs |
|
| Scanners |
|
| Tablet computers |
|
|
|
|
|
Technology
|
|
|
| Accounting software |
|
| Bottom Line LoanMaster Loan Servicing |
|
| Financial Industry Computer Systems Loan Accountant |
|
| Analytical or scientific software |
|
| FinEng Solutions credit analysis software |
|
| Content workflow software |
|
| Equifax Application Engine |
|
| Experian Transact |
|
| Document management software |
|
| eOriginal eCore Business Suite |
|
| Financial analysis software |
|
| Amortization loan software |
|
| Bankers Systems Rembrandt Lending System |
|
| California Infinite LPS |
|
| CGI-AMS CACS Enterprise |
|
| CGI-AMS Strata |
|
| Click1003 Online Mortgage Application |
|
| Credit and risk analysis software |
|
| Credit fraud detection software |
|
| Credit underwriting software |
|
| Delphi Discovery |
|
| Dun and Bradstreet Global DecisionMaker |
|
| Dynamic Loanledger |
|
| eCredit Enterprise |
|
| Ellie Mae Contour |
|
| Ellie Mae Genesis |
|
| Equifax Advanced Decisioning |
|
| Equifax InterConnect |
|
| Experian Credinomics |
|
| Experian Detect |
|
| Experian FraudShield |
|
| Experian Quest |
|
| Experian Retention Triggers |
|
| Fair Isaac Application Risk Model Software |
|
| Fair Isaac Capstone Decision Manager |
|
| Fair Isaac Falcon ID |
|
| Fannie Mae Desktop Underwriter |
|
| FAS Loan Service Plus |
|
| Financial Industry Computer Systems Loan Originator |
|
| Financial Industry Computer Systems Loan Producer |
|
| Freddie Mac Loan Prospector |
|
| Harland DecisionPro |
|
| Harland Interlinq MortgageWare |
|
| IA Systems StreamLend |
|
| Indus Lending Solutions |
|
| Integra Destiny Loan Origination |
|
| LA PRO Loan Administrator Pro |
|
| LawFirm Software 1003 Uniform Residential Loan Application Software |
|
| LawFirm Software Loan Origination Software |
|
| Loan application processing software |
|
| Moody's KMV CreditEdge |
|
| Moody's KMV Decisions |
|
| Moody's KMV Financial Analyst |
|
| Moody's KMV Risk Advisor |
|
| Moody's KMV Risk Analyst |
|
| Opportunity management system OMS software |
|
| Plimus Loan Artist |
|
| QuikDraw Loan Management System |
|
| RealBenefits Amortization Loan |
|
| Technicost LOS |
|
| The Mortgage Office Loan Origination |
|
| The Mortgage Office Loan Servicing |
|
| TrueClose Loan Origination software |
|
| VueCentric MortgageDashboard |
|
| White Clarke North America Credit Adjudication and Lending Management |
|
| Information retrieval or search software |
|
| CGI-AMS BureauLink Enterprise |
|
| Internet browser software |
|
| Web browser software |
|
| Office suite software |
|
| Experian Strategy Management |
|
|
|
|
|
Career Activities
|
|
|
| Performing for or Working Directly with the Public |
|
| provide customer service |
|
| Processing Information |
|
| compute financial data |
|
| compute payment schedule |
|
| compute property equity |
|
| evaluate customer records |
|
| review loan applications |
|
| verify bank or financial transactions |
|
| verify information for credit investigations |
|
| Analyzing Data or Information |
|
| analyze applicant's financial status |
|
| analyze credit information gathered by investigation |
|
| analyze financial data |
|
| evaluate degree of financial risk |
|
| Making Decisions and Solving Problems |
|
| approve or deny loans |
|
| Updating and Using Relevant Knowledge |
|
| use interviewing procedures |
|
| Communicating with Persons Outside Organization |
|
| interview customers |
|
| make presentations on financial matters |
|
| Getting Information |
|
| obtain financial information from individuals |
|
| Documenting/Recording Information |
|
| complete information on loan forms |
|
| Performing Administrative Activities |
|
| file documents in court |
|
| Judging the Qualities of Things, Services, or People |
|
| identify potential markets |
|
| Resolving Conflicts and Negotiating with Others |
|
| negotiate payment arrangements with customers |
|
| Interpreting the Meaning of Information for Others |
|
| explain credit application information |
|
| Interacting With Computers |
|
| use computers to enter, access and retrieve financial data |
|
| Coordinating the Work and Activities of Others |
|
| direct and coordinate financial activities |
|
| Provide Consultation and Advice to Others |
|
| advise clients on financial matters |
|
|
|
|
|
Career Context
|
|
|
| Face-to-Face Discussions |
|
| Telephone |
|
| Contact With Others |
|
| Frequency of Decision Making |
|
| Work With Work Group or Team |
|
| Impact of Decisions on Co-workers or Company Results |
|
| Electronic Mail |
|
| Indoors, Environmentally Controlled |
|
| Freedom to Make Decisions |
|
| Structured versus Unstructured Work |
|
| Spend Time Sitting |
|
| Importance of Repeating Same Tasks |
|
| Importance of Being Exact or Accurate |
|
| Responsibility for Outcomes and Results |
|
| Sounds, Noise Levels Are Distracting or Uncomfortable |
|
| Deal With External Customers |
|
| Time Pressure |
|
| Spend Time Making Repetitive Motions |
|
| Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or Controls |
|
| Deal With Unpleasant or Angry People |
|
| Coordinate or Lead Others |
|
| Level of Competition |
|
| Letters and Memos |
|
| Consequence of Error |
|
| Cramped Work Space, Awkward Positions |
|
| Exposed to Radiation |
|
| Extremely Bright or Inadequate Lighting |
|
| Responsible for Others' Health and Safety |
|
| Frequency of Conflict Situations |
|
| In an Enclosed Vehicle or Equipment |
|
|
|
|
|
Career Styles
|
|
|
Integrity| | Job requires being honest and ethical. |
|
|
Social Orientation| | Job requires preferring to work with others rather than alone, and being personally connected with others on the job. |
|
|
Dependability| | Job requires being reliable, responsible, and dependable, and fulfilling obligations. |
|
|
Analytical Thinking| | Job requires analyzing information and using logic to address work-related issues and problems. |
|
| | | | |
