Loan Officers

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

Job Task

• Review and update credit and loan files.
• Review loan agreements to ensure that they are complete and accurate according to policy.
• Submit applications to credit analysts for verification and recommendation.
• Confer with underwriters to aid in resolving mortgage application problems.
• Handle customer complaints and take appropriate action to resolve them.
• Interview, hire, and train new employees.
• Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
• Petition courts to transfer titles and deeds of collateral to banks.
• Work with clients to identify their financial goals and to find ways of reaching those goals.
• Arrange for maintenance and liquidation of delinquent properties.
• Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
• Analyze potential loan markets and develop referral networks in order to locate prospects for loans.
• Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
• Compute payment schedules.
• Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
• Meet with applicants to obtain information for loan applications and to answer questions about the process.
• Negotiate payment arrangements with customers who have delinquent loans.
• Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
• Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
• Provide special services such as investment banking for clients with more specialized needs.
• Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
• Stay abreast of new types of loans and other financial services and products in order to better meet customers' needs.
• Supervise loan personnel.

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