Loan Interviewers and Clerks

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.

Job Task

• Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
• Record applications for loan and credit, loan information, and disbursements of funds, using computers.
• Submit loan applications with recommendation for underwriting approval.
• Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
• Contact credit bureaus, employers, and other sources in order to check applicants' credit and personal references.
• Verify and examine information and accuracy of loan application and closing documents.
• Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
• Interview loan applicants in order to obtain personal and financial data, and to assist in completing applications.
• Order property insurance or mortgage insurance policies in order to ensure protection against loss on mortgaged property.
• Accept payment on accounts.
• Review customer accounts in order to determine whether payments are made on time and that other loan terms are being followed.
• Check value of customer collateral to be held as loan security.
• Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
• Answer questions and advise customers regarding loans and transactions.
• Schedule and conduct closings of mortgage transactions.
• Present loan and repayment schedules to customers.
• Establish credit limits and grant extensions of credit on overdue accounts.
• File and maintain loan records.

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