Loan Officers

Course Advisor, Inc.; United States; On-site; USD 31,870 - 132,080; Full time

Job summary

Course Advisor is seeking a Loan Officer to evaluate, authorize, and recommend approval of various loans including commercial, real estate, and credit loans. The ideal candidate will possess strong active listening and communication skills, with the ability to provide expert advice to borrowers about financial options. This position requires supervision of loan personnel and assisting applicants throughout the loan process. A firm understanding of various loan types and supportive technologies is essential for success in this role.

Responsibilities

• Evaluate, authorize, or recommend approval of loans.
• Advise borrowers regarding payment methods.
• Compute payment schedules for loans.
• Supervise loan personnel in the office.
• Meet with applicants and answer loan process questions.

Skills

Active Listening

Speaking

Judgment and Decision Making

Reading Comprehension

Critical Thinking

Service Orientation

Tools

Microsoft Excel

Microsoft Word

Microsoft Office

Microsoft PowerPoint

Microsoft Outlook

Web browser software

Data entry software

Microsoft Dynamics

IBM Notes

LexisNexis

Tax software

CICS

COBOL

Delphi Discovery

CGI-AMS BureauLink Enterprise

Experian Credinomics

Moody’s KMV CreditEdge

Harland Financial Solutions DecisionPro

Fair Isaac Falcon ID

Fannie Mae Desktop Underwriter

Job description

Loan Officer

Loan Officer Job Description 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.

Daily Life Of a Loan Officer

• Compute payment schedules.
• Supervise loan personnel.
• Obtain and compile copies of loan applicants’ credit histories, corporate financial statements, and other financial information.
• 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.
• Submit applications to credit analysts for verification and recommendation.

Loan Officer Required Skills

• Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Speaking: Talking to others to convey information effectively.
• Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
• Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
• Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Service Orientation: Actively looking for ways to help people.

Related Job Titles for this Occupation

• Bank Representative
• Mortgage Banker
• Commercial Loan Officer
• Loan Originator
• Commercial Mortgage Broker

Job Outlook for Loan Officers

There were about 318,600 jobs for Loan Officer in 2016 (in the United States). New jobs are being produced at a rate of 11.4% which is above the national average. The Bureau of Labor Statistics predicts 36,300 new jobs for Loan Officer by 2026.

Do Loan Officers Make A Lot Of Money?

The average yearly salary of a Loan Officer ranges between $31,870 and $132,080. Loan Officers who work in New York, New Hampshire, or Nebraska, make the highest salaries.

Tools & Technologies Used by Loan Officers

• Microsoft Excel
• Microsoft Word
• Microsoft Office
• Microsoft PowerPoint
• Microsoft Outlook
• Web browser software
• Data entry software
• Microsoft Dynamics
• IBM Notes
• LexisNexis
• Tax software
• Customer information control system CICS
• Common business oriented language COBOL
• Delphi Discovery
• CGI-AMS BureauLink Enterprise
• Experian Credinomics
• Moody’s KMV CreditEdge
• Harland Financial Solutions DecisionPro
• Fair Isaac Falcon ID
• Fannie Mae Desktop Underwriter