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Occupation AtlasLoan Officers

O*NET · 13-2072.00

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, loan underwriters, and payday loan officers.

Also called Agricultural Loan Officer · Bank Officer · Bank Representative · Banking Services Officer · Branch Banker · Branch Lending Officer · Business Banker · Business Banking Officer
64 more

Commercial Banker · Commercial Lender · Commercial Loan Collection Officer · Commercial Loan Officer · Commercial Mortgage Broker · Commercial Relationship Manager · Consumer Lending Specialist · Consumer Loan Officer · Consumer Loan Specialist · Corporate Banking Officer · Eligibility Consultant · Escrow Officer · Farm Loan Representative · Farm Mortgage Agent · Financial Aid Administrator · Financial Aid Advisor · Financial Aid Coordinator · Financial Aid Counselor · Financial Aid Officer · Financial Aid Technician · Financial Assistance Advisor · Financial Assistance Specialist · Financial Counselor · Home Lending Advisor · Home Lending Officer · Lender · Loan Administrator · Loan Adviser · Loan Analyst · Loan Approver · Loan Auditor · Loan Consultant · Loan Coordinator · Loan Counselor · Loan Examiner · Loan Interviewer · Loan Officer · Loan Originator · Loan Reviewer · Loan Service Officer · Loan Servicing Specialist · Loan Specialist · Loan Underwriter · Loan Workout Officer · Mortgage Banker · Mortgage Broker · Mortgage Closer · Mortgage Consultant · Mortgage Loan Closer · Mortgage Loan Officer · Mortgage Loan Originator · Mortgage Loan Underwriter · Mortgage Originator · Mortgage Servicer · Mortgage Specialist · Mortgage Underwriter · Peer Financial Counselor · Personal Banking Officer · Personal Loan Specialist · Portfolio Manager · Real Estate Loan Officer · Real Estate Officer · Small Business Banking Officer · Underwriter

Job Zone 4 — Considerable Preparation NeededHolland code CES35 skills on file

Compare with another occupationCompare with Tax Examiners and Collectors, and Revenue Agents

Job Zone

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5

Zone 4: Considerable Preparation Needed

Considerable preparation. Usually a bachelor's degree plus several years of work-related experience, knowledge, or training.

Job Zone is O*NET's rating of how much education, experience and training an occupation typically needs — a property of the work, not of anyone doing it.

Occupational interest profile

CESConventional · Enterprising · Social — the three strongest interests, in order

  • C Conventional6.08
  • E Enterprising4.98
  • S Social3.65
  • I Investigative2.32
  • R Realistic1.43
  • A Artistic1.00

RIASEC (Holland) interests on O*NET's 0–7 scale: what the work draws on, not what any individual prefers. Hover a row for what each dimension means.

Education and experience

The education level respondents say the job requires, and the most common answer for experience and training.

  • High School Diploma or the equivalent6%
  • Some College Courses13%
  • Associate's Degree or other 2-year degree11%
  • Bachelor's Degree69%
  • Post-Baccalaureate Certificate1%
Related work experience
Over 4 years, up to and including 6 years (41%)
On-site or in-plant training
None (19%)
On-the-job training
Over 6 months, up to and including 1 year (32%)

Typically associated skills

All 35 O*NET skills, most important first. Importance (1–5) says how much a skill matters here; level (0–7) says how much of it the work calls for, with O*NET's example of a nearby level. Neither is a proficiency rating of a person.

  • Active Listeningbasic4.04.0Level 4 looks like: Answer inquiries regarding credit references
  • Speakingbasic4.04.0Level 4 looks like: Interview applicants to obtain personal and work history
  • Reading Comprehensionbasic3.94.0Level 4 looks like: Understand an email from management describing new personnel policies
  • Judgment and Decision Making3.93.9Level 4 looks like: Evaluate a loan application for degree of risk
  • Critical Thinkingbasic3.84.0Level 4 looks like: Evaluate customer complaints and determine appropriate responses
  • Writingbasic3.43.9Level 4 looks like: Write an email to staff outlining new directives
  • Complex Problem Solving3.33.1Level 4 looks like: Redesign a floor layout to take advantage of new manufacturing techniques
  • Mathematicsbasic3.33.1Level 4 looks like: Calculate the square footage of a new home under construction
  • Social Perceptiveness3.33.0Level 2 looks like: Notice that customers are angry because they have been waiting too long
  • Time Management3.13.3Level 4 looks like: Allocate the time of subordinates to projects for the coming week
  • Active Learningbasic3.13.1Level 4 looks like: Determine the impact of new menu changes on a restaurant's purchasing requirements
  • Service Orientation3.03.5Level 4 looks like: Make flight reservations for customers using an online booking site
Show the other 23

Tasks

14 core · 3 supplemental · 13 not yet rated

What people in this occupation do, as O*NET records it, core tasks first by importance (1–5).

  1. Meet with applicants to obtain information for loan applications and to answer questions about the process.4.6
  2. Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.4.6
  3. Approve loans within specified limits, and refer loan applications outside those limits to management for approval.4.4
  4. Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.4.3
  5. Submit applications to credit analysts for verification and recommendation.4.2
  6. Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.4.1
  7. Review and update credit and loan files.4.1
  8. Review loan agreements to ensure that they are complete and accurate according to policy.4.1
  9. Handle customer complaints and take appropriate action to resolve them.4.0
  10. Work with clients to identify their financial goals and to find ways of reaching those goals.4.0
  11. Stay abreast of new types of loans and other financial services and products to better meet customers' needs.3.9
  12. Market bank products to individuals and firms, promoting bank services that may meet customers' needs.3.8
Show the other 18
  1. Analyze potential loan markets and develop referral networks to locate prospects for loans.3.8
  2. Compute payment schedules.3.6
  3. Supervise loan personnel.3.9
  4. Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.3.4
  5. Set credit policies, credit lines, procedures and standards in conjunction with senior managers.3.1
  6. Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
  7. Authorize or sign mail collection letters.
  8. Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
  9. Confer with underwriters to resolve mortgage application problems.
  10. Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
  11. Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
  12. Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
  13. Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.
  14. Inform individuals and groups about the financial assistance available to college or university students.
  15. Maintain and review account records, updating and recategorizing them according to status changes.
  16. Match individuals' needs and eligibility with available financial aid programs to provide informed recommendations.
  17. Review accounts to determine write-offs for collection agencies.
  18. Review billing for accuracy.

Knowledge

Bodies of knowledge the work draws on.

  • Customer and Personal Service4.75.6
  • Economics and Accounting3.94.2Level 4 looks like: Develop financial investment programs for individual clients
  • English Language3.83.8Level 4 looks like: Edit an article for a news website
  • Mathematics3.74.2Level 4 looks like: Analyze data to determine areas with the highest sales
  • Sales and Marketing3.54.4Level 4 looks like: Introduce clients to a new line of products
  • Law and Government3.33.6Level 4 looks like: Prepare documents and title papers for the purchase of a new house
  • Administration and Management3.13.8Level 4 looks like: Monitor progress of a project to ensure timely completion
  • Education and Training2.93.4Level 4 looks like: Lead a quality improvement seminar
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  • Administrative2.83.4Level 4 looks like: Type 30 words per minute
  • Computers and Electronics2.83.6Level 4 looks like: Use a computer to format a document
  • Personnel and Human Resources2.52.7
  • Communications and Media2.32.3Level 1 looks like: Write a thank you note
  • Production and Processing2.22.4Level 1 looks like: Put a computer back into its packing materials
  • Psychology2.12.1Level 1 looks like: Monitor several children on a playground
  • Public Safety and Security2.11.7Level 1 looks like: Use a seatbelt
  • Sociology and Anthropology1.71.4Level 1 looks like: Identify two cultures in a story as being different
  • Telecommunications1.70.9Level 1 looks like: Send an email
  • Building and Construction1.61.1Level 1 looks like: Choose the proper type of wood for adding a deck onto a house
  • Foreign Language1.61.0Level 1 looks like: Say "please" and "thank you" in a foreign language
  • Geography1.61.1Level 1 looks like: Know the capital of the United States
  • Philosophy and Theology1.61.4Level 1 looks like: Watch a TV show on family values
  • Food Production1.5—
  • History and Archeology1.50.9Level 1 looks like: Take a class in US history
  • Transportation1.51.1Level 1 looks like: Ride a train to work
  • Therapy and Counseling1.4—
  • Engineering and Technology1.3—
  • Mechanical1.2—
  • Biology1.1—
  • Design1.1—
  • Physics1.1—
  • Chemistry1.0—
  • Fine Arts1.0—
  • Medicine and Dentistry1.0—

Abilities

Enduring capacities the work calls for.

  • Oral Comprehension4.04.1Level 4 looks like: Understand a coach's oral instructions for a sport
  • Oral Expression4.04.1Level 4 looks like: Give instructions to a lost motorist
  • Written Comprehension4.04.0Level 4 looks like: Understand an apartment lease
  • Near Vision3.94.5Level 5 looks like: Read the fine print of a legal document
  • Written Expression3.94.0Level 4 looks like: Write a job recommendation for a subordinate
  • Deductive Reasoning3.83.9
  • Inductive Reasoning3.83.9Level 4 looks like: Determine the prime suspect based on crime scene evidence
  • Problem Sensitivity3.83.5Level 4 looks like: Notice from a subtle difference in a client's mood that something is bothering them
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  • Speech Clarity3.83.6Level 4 looks like: Make stadium-wide announcements during a sporting event
  • Speech Recognition3.84.0Level 4 looks like: Identify a former customer's voice over the phone
  • Mathematical Reasoning3.33.1Level 4 looks like: Decide how to calculate profits to determine the amounts of yearly bonuses
  • Number Facility3.33.5Level 3 looks like: Calculate a discounted price
  • Information Ordering3.13.1Level 2 looks like: Follow the correct steps to make change
  • Category Flexibility3.03.0Level 3 looks like: Classify flowers according to size, color, and smell
  • Fluency of Ideas3.02.6Level 2 looks like: Name four different uses for a screwdriver
  • Selective Attention3.02.4Level 2 looks like: Answer a business call with coworkers talking nearby
  • Flexibility of Closure2.82.4Level 2 looks like: Detect that your phone is ringing while at a concert
  • Perceptual Speed2.32.1Level 2 looks like: Sort mail according to ZIP codes with no time pressure
  • Time Sharing2.32.1Level 2 looks like: Listen to music while entering numbers into a spreadsheet
  • Auditory Attention2.11.8Level 2 looks like: Listen to a lecture while people nearby are talking
  • Far Vision2.11.5Level 2 looks like: Read a roadside billboard
  • Originality2.12.5Level 2 looks like: Use a credit card to open a locked door
  • Speed of Closure2.12.1Level 3 looks like: Recognize a song after hearing only the first few notes
  • Arm-Hand Steadiness2.01.0Level 2 looks like: Light a candle
  • Finger Dexterity2.01.6Level 2 looks like: Put coins in a parking meter
  • Manual Dexterity2.01.0Level 1 looks like: Screw a light bulb into a light socket
  • Memorization2.02.0Level 1 looks like: Remember the number on your bus to be sure you get back on the right one
  • Visual Color Discrimination2.01.1Level 1 looks like: Separate laundry into colors and whites
  • Control Precision1.90.9
  • Hearing Sensitivity1.91.1Level 2 looks like: Notice a doorbell ringing
  • Visualization1.91.1Level 2 looks like: Imagine how to place paper in a printer so that the letterhead comes out on top
  • Depth Perception1.50.5
  • Trunk Strength1.40.6
  • Dynamic Strength1.3—
  • Wrist-Finger Speed1.1—
  • Dynamic Flexibility1.0—
  • Explosive Strength1.0—
  • Extent Flexibility1.0—
  • Glare Sensitivity1.0—
  • Gross Body Coordination1.0—
  • Gross Body Equilibrium1.0—
  • Multilimb Coordination1.0—
  • Night Vision1.0—
  • Peripheral Vision1.0—
  • Rate Control1.0—
  • Reaction Time1.0—
  • Response Orientation1.0—
  • Sound Localization1.0—
  • Spatial Orientation1.0—
  • Speed of Limb Movement1.0—
  • Stamina1.0—
  • Static Strength1.0—

Work activities

Kinds of activity the work is made of.

  • Evaluating Information to Determine Compliance with Standards4.54.6Level 4 looks like: Evaluate a complicated insurance claim for compliance with policy terms
  • Getting Information4.54.6Level 4 looks like: Review a budget
  • Analyzing Data or Information4.34.7Level 4 looks like: Determine the interest cost to finance a new building
  • Establishing and Maintaining Interpersonal Relationships4.34.9Level 4 looks like: Maintain good working relationships with almost all coworkers and clients
  • Processing Information4.34.7Level 4 looks like: Calculate the adjustments for insurance claims
  • Working with Computers4.23.3Level 4 looks like: Write software for keeping track of parts in inventory
  • Communicating with People Outside the Organization4.14.3Level 4 looks like: Present information to potential clients about available services
  • Communicating with Supervisors, Peers, or Subordinates4.14.6Level 4 looks like: Report the results of a sales meeting to a supervisor
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  • Making Decisions and Solving Problems4.14.1Level 4 looks like: Select the location for a major retail store
  • Organizing, Planning, and Prioritizing Work3.94.4Level 4 looks like: Plan and adjust a personal to-do list according to changing demands
  • Updating and Using Relevant Knowledge3.94.5Level 4 looks like: Keep current on changes in maintenance procedures for repairing sports cars
  • Documenting/Recording Information3.84.1Level 4 looks like: Document the results of a crime scene investigation
  • Identifying Objects, Actions, and Events3.73.7Level 4 looks like: Judge the suitability of food products for an event
  • Judging the Qualities of Objects, Services, or People3.74.2Level 4 looks like: Determine the value of property lost in a fire
  • Interpreting the Meaning of Information for Others3.63.8Level 4 looks like: Interpret how foreign tax laws apply to U.S. exports
  • Performing for or Working Directly with the Public3.64.3Level 4 looks like: Sell shoes in a crowded shoe store
  • Developing and Building Teams3.43.3Level 4 looks like: Lead an assembly team in an automobile plant
  • Selling or Influencing Others3.43.8Level 4 looks like: Make a sales pitch to convince others to buy a product
  • Performing Administrative Activities3.33.3Level 4 looks like: Complete tax forms for a small business
  • Resolving Conflicts and Negotiating with Others3.33.4Level 4 looks like: Get two subordinates to agree about vacation schedules
  • Thinking Creatively3.33.5Level 4 looks like: Adapt popular music for a high school marching band
  • Coordinating the Work and Activities of Others3.13.0Level 4 looks like: Organize the cleanup crew after a major sporting event
  • Monitoring Processes, Materials, or Surroundings3.13.5Level 4 looks like: Test electrical circuits
  • Providing Consultation and Advice to Others3.03.7Level 4 looks like: Recommend a new software package to increase operational efficiency
  • Scheduling Work and Activities3.03.0Level 4 looks like: Prepare the work schedule for salesclerks in a large retail store
  • Developing Objectives and Strategies2.82.7
  • Estimating the Quantifiable Characteristics of Products, Events, or Information2.82.7
  • Guiding, Directing, and Motivating Subordinates2.52.3Level 1 looks like: Work occasionally as a backup supervisor
  • Coaching and Developing Others2.42.8
  • Training and Teaching Others2.32.4Level 1 looks like: Give coworkers brief instructions on a simple procedural change
  • Inspecting Equipment, Structures, or Materials2.22.0Level 1 looks like: Check that doors to building are locked
  • Assisting and Caring for Others2.11.5Level 1 looks like: Help a coworker complete an assignment
  • Monitoring and Controlling Resources2.12.5Level 1 looks like: Work as a server responsible for keeping track of utensils
  • Staffing Organizational Units2.11.8Level 1 looks like: Work in a position that has minimal staffing requirements
  • Controlling Machines and Processes1.70.9Level 1 looks like: Operate a cash register
  • Performing General Physical Activities1.60.9Level 1 looks like: Walk between workstations in a small office
  • Handling and Moving Objects1.50.7Level 1 looks like: Change settings on copy machines
  • Repairing and Maintaining Electronic Equipment1.4—
  • Operating Vehicles, Mechanized Devices, or Equipment1.3—
  • Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment1.2—
  • Repairing and Maintaining Mechanical Equipment1.2—

Work context

The conditions most characteristic of the work, on O*NET's 1–5 context scale.

  • E-Mail5.0
  • Indoors, Environmentally Controlled5.0
  • Telephone Conversations5.0
  • Face-to-Face Discussions with Individuals and Within Teams4.9
  • Contact With Others4.8
  • Frequency of Decision Making4.8
  • Deal With External Customers or the Public in General4.6
  • Spend Time Sitting4.6
  • Impact of Decisions on Co-workers or Company Results4.5
  • Importance of Being Exact or Accurate4.5

Technology

88 tools

Software used in this work. In demand: among the tools job postings for this occupation name most. Hot: often named in job postings across the economy.

In demand (3)

  • Microsoft Excelhot
  • Microsoft Office softwarehot
  • Microsoft Outlookhot

Hot (6; 3 more marked hot above)

  • Microsoft Access
  • Microsoft PowerPoint
  • Microsoft Word
  • Oracle PeopleSoft
  • SAP software
  • Zoom
Other tools (79)
  • 1003 Uniform Residential Loan Application
  • Amortization loan software
  • Bankers Systems Rembrandt Lending System
  • Bottom Line LoanMaster Loan Servicing
  • California Infinite LPS
  • Calyx Point
  • CGI-AMS BureauLink Enterprise
  • CGI-AMS CACS Enterprise
  • CGI-AMS Strata
  • Click1003 Online Mortgage Application
  • Common business oriented language COBOL
  • Credit and risk analysis software
  • Credit fraud detection software
  • Credit underwriting software
  • Customer information control system CICS
  • Datatel Colleague
  • Delphi Discovery
  • Dun and Bradstreet Global DecisionMaker
  • Dynamic Loanledger
  • eCredit Enterprise
  • EDExpress
  • Ellie Mae Contour
  • Ellie Mae Genesis
  • ELM Resources ELM
  • EMT Applications CounselorMax
  • eOriginal eCore Business Suite
  • Equifax Advanced Decisioning
  • Equifax Application Engine
  • Equifax InterConnect
  • Experian Credinomics
  • Experian Detect
  • Experian FraudShield
  • Experian Quest
  • Experian Retention Triggers
  • Experian Strategy Management
  • Experian Transact SM
  • Fair Isaac Application Risk Model Software
  • Fair Isaac Capstone Decision Manager
  • Fair Isaac Falcon ID
  • Fannie Mae Desktop Underwriter
  • FAS Loan Service Plus
  • FileMaker Pro
  • Financial aid management system FAM
  • Financial Industry Computer Systems Loan Accountant
  • Financial Industry Computer Systems Loan Originator
  • Financial Industry Computer Systems Loan Producer
  • Freddie Mac Loan Prospector
  • Harland Financial Solutions DecisionPro
  • Harland Interlinq MortgageWare
  • IA Systems StreamLend
  • IBM Notes
  • Indus Lending Solutions
  • Integra Destiny Loan Origination
  • LA PRO Loan Administrator Pro
  • LexisNexis
  • Loan application processing software
  • Loan origination software
  • Microsoft Dynamics
  • Microsoft Internet Explorer
  • Moody's KMV CreditEdge
  • Moody's KMV Decisions
  • Moody's KMV Financial Analyst
  • Moody's KMV Risk Advisor
  • Moody's KMV Risk Analyst
  • Opportunity management system OMS
  • Plimus Loan Artist
  • QuikDraw Loan Management System
  • RealBenefits Amortization Loan
  • Student information systems SIS software
  • SunGard Higher Education Banner Financial Aid
  • Sungard Higher Education PowerFAIDS
  • Tax software
  • Technicost LOS
  • The Mortgage Office Loan Origination
  • The Mortgage Office Loan Servicing
  • VueCentric MortgageDashboard
  • Web browser software
  • White Clarke North America Credit Adjudication and Lending Management
  • Wolters Kluwer Financial Services ComplianceOne

Related occupations

O*NET's own list of the occupations most related to this one, closest first.

  1. Loan Interviewers and Clerks
  2. Credit Counselors
  3. Credit Analysts
  4. Credit Authorizers, Checkers, and Clerks
  5. Personal Financial Advisors
  6. Securities, Commodities, and Financial Services Sales Agents
  7. Financial Managers
  8. Financial and Investment Analysts
  9. New Accounts Clerks
  10. Bill and Account Collectors

ESCO equivalents

From the official ESCO–O*NET crosswalk, strongest match first. A broader occupation takes in this one; a narrower one is a part of it.

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This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA), used under the CC BY 4.0 license; O*NET® is a trademark of USDOL/ETA. ESCO occupations and skills are from the European Commission's ESCO classification, and the occupation crosswalk is the official ESCO–O*NET mapping by the ESCO Secretariat with USDOL/ETA. This service uses the ESCO classification of the European Commission. BlissPoint Analytics has modified all or some of this information: skill, task and descriptor ratings are rounded to one decimal, and ESCO occupations show Job Zone and interests copied from a crosswalked O*NET occupation. USDOL/ETA has not approved, endorsed, or tested these modifications.