Org.AI Foundation Partner

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.

Tasks
30 tasks14 core, 3 supplemental, 13 not rated
Family
Business & FinancialOne of its 50 occupations
Code
13-2072.00SOC 2018: 13-2072

Read the 30 tasks Download this record as JSON

What the work is made of

14 core tasks, 3 supplemental and 13 not rated, each quoted as published, with where it came from.

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Core: central to the jobSupplemental: done by some, not allNot rated: O*NET has not rated it core or supplemental

  1. Task 1. Meet with applicants to obtain information for loan applications and to answer questions about the process.Core taskTask 3408Rated by 63 people who do the job, August 2020
  2. Task 2. Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.Core taskTask 3409Rated by 62 people who do the job, August 2020
  3. Task 3. Approve loans within specified limits, and refer loan applications outside those limits to management for approval.Core taskTask 3407Rated by 63 people who do the job, August 2020
  4. Task 4. Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.Core taskTask 3410Rated by 63 people who do the job, August 2020
  5. Task 5. Submit applications to credit analysts for verification and recommendation.Core taskTask 3416Rated by 63 people who do the job, August 2020
  6. Task 6. Review loan agreements to ensure that they are complete and accurate according to policy.Core taskTask 3413Rated by 63 people who do the job, August 2020
  7. Task 7. Review and update credit and loan files.Core taskTask 3412Rated by 63 people who do the job, August 2020
  8. Task 8. Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.Core taskTask 3411Rated by 63 people who do the job, August 2020
  9. Task 9. Work with clients to identify their financial goals and to find ways of reaching those goals.Core taskTask 3418Rated by 62 people who do the job, August 2020
  10. Task 10. Handle customer complaints and take appropriate action to resolve them.Core taskTask 3417Rated by 62 people who do the job, August 2020
  11. Task 11. Stay abreast of new types of loans and other financial services and products to better meet customers' needs.Core taskTask 3415Rated by 63 people who do the job, August 2020
  12. Task 12. Market bank products to individuals and firms, promoting bank services that may meet customers' needs.Core taskTask 3421Rated by 63 people who do the job, August 2020
  13. Task 13. Analyze potential loan markets and develop referral networks to locate prospects for loans.Core taskTask 3425Rated by 63 people who do the job, August 2020
  14. Task 14. Compute payment schedules.Core taskTask 3414Rated by 63 people who do the job, August 2020
  15. Task 15. Supervise loan personnel.Supplemental taskTask 3422Rated by 62 people who do the job, August 2020
  16. Task 16. Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.Supplemental taskTask 3426Rated by 63 people who do the job, August 2020
  17. Task 17. Set credit policies, credit lines, procedures and standards in conjunction with senior managers.Supplemental taskTask 3423Rated by 62 people who do the job, August 2020
  18. Task 18. Assist in selection of financial award candidates using electronic databases to certify loan eligibility.Not ratedTask 21635Listed by O*NET analysts, November 2020
  19. Task 19. Authorize or sign mail collection letters.Not ratedTask 21636Listed by O*NET analysts, November 2020
  20. Task 20. Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.Not ratedTask 21637Listed by O*NET analysts, November 2020
  21. Task 21. Confer with underwriters to resolve mortgage application problems.Not ratedTask 21638Listed by O*NET analysts, November 2020
  22. Task 22. Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.Not ratedTask 21639Listed by O*NET analysts, November 2020
  23. Task 23. Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.Not ratedTask 21640Listed by O*NET analysts, November 2020
  24. Task 24. Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.Not ratedTask 21641Listed by O*NET analysts, November 2020
  25. Task 25. Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.Not ratedTask 21642Listed by O*NET analysts, November 2020
  26. Task 26. Inform individuals and groups about the financial assistance available to college or university students.Not ratedTask 21643Listed by O*NET analysts, November 2020
  27. Task 27. Maintain and review account records, updating and recategorizing them according to status changes.Not ratedTask 21644Listed by O*NET analysts, November 2020
  28. Task 28. Match individuals' needs and eligibility with available financial aid programs to provide informed recommendations.Not ratedTask 21645Listed by O*NET analysts, November 2020
  29. Task 29. Review accounts to determine write-offs for collection agencies.Not ratedTask 21646Listed by O*NET analysts, November 2020
  30. Task 30. Review billing for accuracy.Not ratedTask 21647Listed by O*NET analysts, November 2020

Where this comes from

Quoted from the U.S. Department of Labor, and credited. Nothing on this page is written by us.

How we copy and credit sources
  1. Published by
    O*NET 29.0, U.S. Department of LaborEmployment and Training Administration
  2. Classification
    Standard Occupational Classification 2018, 13-2072
  3. License
    CC BY 4.0Free to copy and reuse, with credit
  4. Changed by us
    Nothing.

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