Loan Interviewers and Clerks — Tasks

Task statements

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