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Loan Officers

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, loan underwriters, and payday loan officers.

What you’d do

  • 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.
  • Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
  • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
  • Submit applications to credit analysts for verification and recommendation.
  • Review loan agreements to ensure that they are complete and accurate according to policy.
  • Review and update credit and loan files.
  • Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.

Skills that matter

  • Active Listening
  • Speaking
  • Judgment and Decision Making
  • Reading Comprehension
  • Critical Thinking
  • Writing

How to get there

Considerable preparation: most need a four-year bachelor's degree

Also called

  • Commercial Loan Officer
  • Financial Aid Counselor
  • Loan Counselor
  • Loan Officer
  • Commercial Banker
  • Corporate Banking Officer

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