Also known as: Branch Lending Officer, Commercial Lender, Loan Analyst, Loan Officer, Loan Reviewer, Real Estate Loan Officer. 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, and loan underwriters.Add to Favourites Compare with other careers
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, and loan underwriters.
Financial institutions "rent" money in the form of loans. If they don't make any loans, they don't make any profit. That makes loan officers very important employees, because they're the people who work with customers to assemble and analyze the information needed to determine how much someone can borrow.
There are set financial formulas, to be sure. But loan officers who specialize in "commercial" lending, or loans to businesses, must also know a lot about the businesses their customers are in. On the other hand, loan officers who specialize in home mortgage loans must be very familiar with the local real estate market.
Loan officers and loan counselors deal with money. But they also help make things happen for people, and that can be very satisfying.
1. Look for clients in need of loans from various companies
2. Handle customer complaints and take appropriate action to resolve them.
3. Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
4. Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
5. Analyze potential loan markets and develop referral networks to locate prospects for loans.
Getting Information : Observing, receiving, and otherwise obtaining information from all relevant sources that helps them learn more about the businesses of their clients
Establishing and Maintaining Interpersonal Relationships : Developing constructive and cooperative working relationships with others, and maintaining them over time. Loan officers have to establish credible relationships with their clients
Making Decisions and Solving Problems : Analyzing information and evaluating results to choose the best solution and solve problems.In the event that the client is failing to pay, loan officers are required to devise loan servicing options that help clients pay appropriately
Processing Information : Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Organizing, Planning, and Prioritizing Work : Developing specific goals and plans to prioritize, organize, and accomplish your work. Loan officers always have monthly targets ie the number of people they have to advance loans to so it is paramount that they make appropriate plans to make them achieve such targets
Performing for or Working Directly with the Public : Performing for people or dealing directly with the public. This includes serving clients from the different companies.