Evaluates, authorizes, or recommends approval of commercial, real estate, or credit loans. Advises borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
This career is part of the Finance cluster Banking Services pathway.
A person in this career:
- Analyzes applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Obtains and compiles copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Meets with applicants to obtain information for loan applications and to answer questions about the process.
- Explains to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Reviews loan agreements to ensure that they are complete and accurate according to policy.
- Approves loans within specified limits, and refers loan applications outside those limits to management for approval.
- Handles customer complaints and takes appropriate action to resolve them.
- Stays abreast of new types of loans and other financial services and products to better meet customers' needs.
- Reviews and updates credit and loan files.
- Submits applications to credit analysts for verification and recommendation.