Loan Interviewers and Clerks Go Back to List Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.

Technology used in this occupation:
	Accounting software

Tasks
	Verify and examine information and accuracy of loan application and closing documents.
	Interview loan applicants to obtain personal and financial data and to assist in completing applications.
	Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
	Answer questions and advise customers regarding loans and transactions.
	Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
	Record applications for loan and credit, loan information, and disbursements of funds, using computers.
	Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
	Present loan and repayment schedules to customers.
	Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
	Check value of customer collateral to be held as loan security.

Skills
	Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
	Speaking - Talking to others to convey information effectively.
	Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
	Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
	Writing - Communicating effectively in writing as appropriate for the needs of the audience.
	Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
	Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
	Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
	Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
	Time Management - Managing one's own time and the time of others.

Knowledge
	Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
	English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
	Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
	Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
	Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
	Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
	Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
	Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
	Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
	Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.

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Education & Training   Education:   Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.   Related Experience:   Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.

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Wage Information
	Region Average Entry Level  Mid-Range  Annual  Hourly  Statewide $52,195.00 $25.09  $18.92  $20.08 - $29.63  Bridgeport/Stamford $54,230.00 $26.07  $19.72  $22.21 - $30.46  Danbury $57,535.00 $27.66  $21.09  $24.31 - $32.33  Hartford $51,503.00 $24.76  $19.04  $21.60 - $28.85  New Haven $52,102.00 $25.05  $18.54  $19.97 - $30.45  New London/Norwich $48,167.00 $23.16  $17.86  $19.86 - $25.43  Torrington $52,929.00 $25.45  $18.45  $19.41 - $29.89

Occupation Outlook ( 2016 - 2026 ) Average Annual Job Openings:   108   Employment in this occupation is expected to grow more slowly than average, and the number of annual openings will offer good or favorable job opportunities.

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	Some of the occupational information on this page is formulated from O*NETTM v17.0 data. O*NETTM is a trademark of the U.S. Department of Labor, Employment and Training Administration.