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What is a day in the life of a Loan Officers like?

Loan officers perform some or all of the following duties:

A. Interview applicants for personal, mortgage, student and business loans

B. Research and evaluate loan applicant's financial status, references, credit and ability to repay the loan

C. Complete credit and loan documentation

D. Submit credit and loan applications to management with recommendations for approval or rejection; or approve or reject applications within authorized limits ensuring that credit standards of the institution are respected

E. Promote the sale of credit and loan services

F. Review and update credit and loan files

G. Prepare statements on delinquent accounts and forward irreconcilable accounts for collector action.

Career Related Questions

  1. What education do you need to become a Loan Officers ?
    1. You usually need a high school diploma, extensive banking experience, and a bachelor's degree or college diploma... more
  2. What is the current Job Outlook for a Loan Officers ?
    The job outlook for Loan Officers is considered Above Average because: 1. Employment grew at an average rate.... more
  3. What is the future Job Outlook for a Loan Officers?
    Your job outlook will continue to be Above Average because: 1. The employment growth rate will likely be close to... more
  4. How much does a Loan Officers make?
    The average hourly wages for Loan Officers is $19.40/HR, which is close to the average for occupations in the... more
  5. What is the currently unemployment rate for a Loan Officers"?
    1% of Loan Officers are unemployed. This rate is below the average for technical, professional, and skilled... more
  6. How many Loan Officers are employed part-time?
    5% of Loan Officers are employed only on a part-time basis. There were 38,400 workers employed in these occupations... more
  7. How many Loan Officers are self-employed?
    Roughly 1% of Loan Officers are self-employed. This is considered Average for the industry as a whole. more
  8. What is the average age of a Loan Officers?
    The retirement rate to 2009 will likely be average influenced by a similar-to-average age of workers (42). more