Description
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.
- • 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.
- • Compute payment schedules.
- • Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- • Submit applications to credit analysts for verification and recommendation.
- • Handle customer complaints and take appropriate action to resolve them.
- • Work with clients to identify their financial goals and to find ways of reaching those goals.
- • Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- • Supervise loan personnel.
- • Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
- • 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.
- • Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
- • Authorize or sign mail collection letters.
- • Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
- • Confer with underwriters to resolve mortgage application problems.
- • Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
- • Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
- • Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
- • Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
- • Inform individuals and groups about the financial assistance available to college or university students.
- • Maintain and review account records, updating and recategorizing them according to status changes.
- • Match individuals' needs and eligibility with available financial aid programs to provide informed recommendations.
- • Review accounts to determine write-offs for collection agencies.
- • Review billing for accuracy.
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O*NET occupational data (work activities, skills, knowledge).
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Last reviewed: Jan 2026
