Loan Officer

Loan Officers, according to the O*NET, evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. They advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters. This is an InDemand occupation.

Consider this occupation if you enjoy:

• Analyzing information and evaluating results.
• Performing for people or dealing directly with the public.
• Assessing the value, importance, or quality of things or people.
• Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Tasks include, but are not limited to:

• Approving loans within specified limits.
• Meeting with applicants to obtain information for loan applications and to answer questions about the process.
• Analyzing applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
• Obtaining and compiling copies of loan applicants' credit histories, corporate financial statements, and other financial information.
• Reviewing loan agreements to ensure that they are complete and accurate according to policy.
• Staying abreast of new types of loans and other financial services and products to better meet customers' needs.

National median wage in 2005 was $23.77/hour, $49,440/annual.

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