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.
71 alternate job titles:
Agricultural Loan Officer
Bank Officer
Bank Representative
Banking Services Officer
Branch Banker
Branch Lending Officer
Business Banker
Business Banking Officer
Commercial Banker
Commercial Lender
Commercial Loan Collection Officer
Commercial Loan Officer
Commercial Mortgage Broker
Commercial Relationship Manager
Consumer Lending Specialist
Consumer Loan Officer
Consumer Loan Specialist
Corporate Banking Officer
Eligibility Consultant
Escrow Officer
Farm Loan Representative
Farm Mortgage Agent
Financial Aid Administrator
Financial Aid Advisor
Financial Aid Coordinator
Financial Aid Counselor
Financial Aid Officer
Financial Aid Technician
Financial Assistance Advisor
Financial Assistance Specialist
Financial Counselor
Home Lending Advisor
Home Lending Officer
Lender
Loan Administrator
Loan Adviser
Loan Analyst
Loan Approver
Loan Auditor
Loan Consultant
Loan Coordinator
Loan Counselor
Loan Examiner
Loan Interviewer
Loan Officer
Loan Originator
Loan Reviewer
Loan Service Officer
Loan Servicing Specialist
Loan Specialist
Loan Underwriter
Loan Workout Officer
Mortgage Banker
Mortgage Broker
Mortgage Closer
Mortgage Consultant
Mortgage Loan Closer
Mortgage Loan Officer
Mortgage Loan Originator
Mortgage Loan Underwriter
Mortgage Originator
Mortgage Specialist
Mortgage Underwriter
Peer Financial Counselor
Personal Banking Officer
Personal Loan Specialist
Portfolio Manager
Real Estate Loan Officer
Real Estate Officer
Small Business Banking Officer
Underwriter
Salary Information
Loan Officers: $74,180 (median) per year.
Starting salary (10th percentile).
Required expreience: Varies by Company
Data source: U.S. Bureau of Labor Statistics
Daily Tasks & Responsibilities
| Task Description | Category |
|---|---|
| Authorize financial actions. | General |
| Interview clients to gather financial information. | General |
| Interpret financial information for others. | General |
| Gather financial records. | General |
| Examine financial records. | General |
| Verify accuracy of financial information. | General |
| Compute debt repayment schedules. | General |
| Submit financial applications. | General |
| Correspond with customers to answer questions or resolve complaints. | General |
| Market products, services, or events. | General |
| Establish organizational guidelines or policies. | General |
| Prepare financial documents, reports, or budgets. | General |
| Verify application data to determine program eligibility. | General |
| Confer with others about financial matters. | General |
| Inform individuals or organizations of status or findings. | General |
| Advise others on financial matters. | General |
| Educate clients on financial planning topics. | General |
| Recommend products or services to customers. | General |
| Verify accuracy of records. | General |
| Assess financial status of clients. | Analysis |
| Analyze market conditions or trends. | Analysis |
| Maintain data in information systems or databases. | Maintenance |
| Update professional knowledge. | Maintenance |
| Develop financial plans for clients. | Development |
| Supervise employees. | Management |
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Technology Requirements
| Technology | Description |
|---|---|
| Microsoft Excel | Spreadsheet software |
| Microsoft Office software | Office suite software |
| Microsoft Outlook | Electronic mail software |
| Microsoft Dynamics | Customer relationship management CRM software |
| Microsoft PowerPoint | Presentation software |
| Microsoft Word | Word processing software |
| Oracle PeopleSoft | Enterprise resource planning ERP software |
| SAP software | Enterprise resource planning ERP software |
| Zoom | Video conferencing software |
| 1003 Uniform Residential Loan Application | Financial analysis software |
| Amortization loan software | Financial analysis software |
| Bankers Systems Rembrandt Lending System | Financial analysis software |
| Bottom Line LoanMaster Loan Servicing | Accounting software |
| CGI-AMS BureauLink Enterprise | Information retrieval or search software |
| CGI-AMS CACS Enterprise | Financial analysis software |
| CGI-AMS Strata | Financial analysis software |
| California Infinite LPS | Financial analysis software |
| Calyx Point | Financial analysis software |
| Click1003 Online Mortgage Application | Financial analysis software |
| Common business oriented language COBOL | Development environment software |
| Credit and risk analysis software | Financial analysis software |
| Credit fraud detection software | Financial analysis software |
| Credit underwriting software | Financial analysis software |
| Customer information control system CICS | Transaction server software |
| Datatel Colleague | Enterprise resource planning ERP software |
| Delphi Discovery | Financial analysis software |
| Dun and Bradstreet Global DecisionMaker | Financial analysis software |
| Dynamic Loanledger | Financial analysis software |
| Ellie Mae Contour | Financial analysis software |
| Ellie Mae Genesis | Financial analysis software |
| Equifax Advanced Decisioning | Financial analysis software |
| Equifax Application Engine | Content workflow software |
| Equifax InterConnect | Financial analysis software |
| Experian Credinomics | Financial analysis software |
| Experian Detect | Financial analysis software |
| Experian FraudShield | Financial analysis software |
| Experian Quest | Financial analysis software |
| Experian Retention Triggers | Financial analysis software |
| Experian Strategy Management | Office suite software |
| Experian Transact SM | Content workflow software |
| FAS Loan Service Plus | Financial analysis software |
| Fair Isaac Application Risk Model Software | Financial analysis software |
| Fair Isaac Capstone Decision Manager | Financial analysis software |
| Fair Isaac Falcon ID | Financial analysis software |
| Fannie Mae Desktop Underwriter | Financial analysis software |
| Financial Industry Computer Systems Loan Accountant | Accounting software |
| Financial Industry Computer Systems Loan Originator | Financial analysis software |
| Financial Industry Computer Systems Loan Producer | Financial analysis software |
| Freddie Mac Loan Prospector | Financial analysis software |
| Harland Financial Solutions DecisionPro | Financial analysis software |
| Harland Interlinq MortgageWare | Financial analysis software |
| IA Systems StreamLend | Financial analysis software |
| IBM Notes | Electronic mail software |
| Indus Lending Solutions | Financial analysis software |
| Integra Destiny Loan Origination | Financial analysis software |
| LA PRO Loan Administrator Pro | Financial analysis software |
| LexisNexis | Information retrieval or search software |
| Loan application processing software | Financial analysis software |
| Loan origination software | Financial analysis software |
| Microsoft Internet Explorer | Internet browser software |
| Moody's KMV CreditEdge | Financial analysis software |
| Moody's KMV Decisions | Financial analysis software |
| Moody's KMV Financial Analyst | Financial analysis software |
| Moody's KMV Risk Advisor | Financial analysis software |
| Moody's KMV Risk Analyst | Financial analysis software |
| Opportunity management system OMS | Financial analysis software |
| Plimus Loan Artist | Financial analysis software |
| QuikDraw Loan Management System | Financial analysis software |
| RealBenefits Amortization Loan | Financial analysis software |
| Tax software | Accounting software |
| Technicost LOS | Financial analysis software |
| The Mortgage Office Loan Origination | Financial analysis software |
| The Mortgage Office Loan Servicing | Financial analysis software |
| VueCentric MortgageDashboard | Financial analysis software |
| Web browser software | Internet browser software |
| White Clarke North America Credit Adjudication and Lending Management | Financial analysis software |
| Wolters Kluwer Financial Services ComplianceOne | Compliance software |
| eCredit Enterprise | Financial analysis software |
| eOriginal eCore Business Suite | Document management software |
| Microsoft Access | Data base user interface and query software |
| EDExpress | Data base user interface and query software |
| ELM Resources ELM | Data base user interface and query software |
| EMT Applications CounselorMax | Data base user interface and query software |
| FileMaker Pro | Data base user interface and query software |
| Financial aid management system FAM | Data base user interface and query software |
| Student information systems SIS software | Data base user interface and query software |
| SunGard Higher Education Banner Financial Aid | Data base user interface and query software |
| Sungard Higher Education PowerFAIDS | Data base user interface and query software |
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Relevant Certifications
Industry certifications that may be valuable for this career role:
| Certification | Issuing Organization | Practice Test |
|---|---|---|
| Accredited Financial Counselor | Association for Financial Counseling and Planning Education | Not Available |
| Accredited Mortgage Professional | Mortgage Bankers Association of America | Not Available |
| Certified Chartered Portfolio Manager | American Academy of Financial Management | Not Available |
| Certified Commercial Loan Officer | Independent Community Bankers of America | Not Available |
| Certified Community Bank Consumer Lender | Independent Community Bankers of America | Not Available |
| Certified Credit Union Financial Counseling | Credit Union National Association | Not Available |
| Certified Mortgage Banker | Mortgage Bankers Association of America | Not Available |
| Certified Mortgage Compliance Professional | Mortgage Bankers Association of America | Not Available |
| Certified Mortgage Consultant | National Association of Mortgage Brokers | Not Available |
| Certified Mortgage Examinations Manager | Conference of State Bank Supervisors | Not Available |
| Certified Mortgage Examiner | Conference of State Bank Supervisors | Not Available |
| Certified Mortgage Investigator | Conference of State Bank Supervisors | Not Available |
| Certified Multistate Mortgage Examiner-in-Charge | Conference of State Bank Supervisors | Not Available |
| Certified Residential Mortgage Specialist | National Association of Mortgage Brokers | Not Available |
| Certified Residential Underwriter | Mortgage Bankers Association of America | Not Available |
| Certified Residential Underwriter - Advanced | Mortgage Bankers Association of America | Not Available |
| Certified Residential Underwriter - Intermediate | Mortgage Bankers Association of America | Not Available |
| Certified Senior Mortgage Examiner | Conference of State Bank Supervisors | Not Available |
| Chartered Realty Investor | Mortgage Bankers Association of America | Not Available |
| Commercial Certified Mortgage Servicer | Mortgage Bankers Association of America | Not Available |
| Credit Union Business Lending Professional | Credit Union National Association | Not Available |
| Economic Development Finance Professional | The National Development Council | Not Available |
| Executive Certified Mortgage Banker | Mortgage Bankers Association of America | Not Available |
| General Mortgage Associate | National Association of Mortgage Brokers | Not Available |
| Residential Certified Mortgage Servicer | Mortgage Bankers Association of America | Not Available |
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