Occupation Summary

Loan Interviewers and Clerks

O*NET 43-4131.00

Description:

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.

Annual Wages:
$51,028.00
Employment Rate:
Employment is expected to increase by 12.18%.
Education Level:
High School Diploma - or the equivalent (for example, GED). According to O*Net, the majority of people employed in this occupation have this level of education.
Endorsement:
Business and Industry

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


National Industry Employment Patterns


Industry % of Loan Interviewers and Clerks employed Annual Growth Rate
Nondepository credit intermediation 34.1 -0.11
Insurance carriers 4.6 0.69
Legal services 3.4 0.36


Labor Market Information


2024 Statewide average hourly wage $24.53
2024 National average hourly wage $24.54
2022 National employment 247,100
2022 Texas employment 24,802
Texas projected employment by 2032 27,822
Texas projected annual employment and Turnover openings through 2032 2,465




TEXAS COUNTY MAP BY WORKFORCE DEVELOPMENT AREA
* Due to confidentiality rules, not all regions may have the data displayed. The sum of all the regions may not be equal to the state total.


Top 10 Relevant Knowledge Areas Relevant Importance Levels
Customer and Personal Service
Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
87.80%
English Language
Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
84.00%
Administrative
Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
74.20%
Computers and Electronics
Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
68.40%
Law and Government
Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
68.20%
Mathematics
Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
67.40%
Administration and Management
Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
57.60%
Education and Training
Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
57.00%
Sales and Marketing
Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
56.00%
Economics and Accounting
Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
55.00%


Top 10 Relevant Skill Areas Relevant Importance Levels
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.
82.40%
Speaking
Talking to others to convey information effectively.
80.00%
Reading Comprehension
Understanding written sentences and paragraphs in work-related documents.
77.60%
Critical Thinking
Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
75.00%
Writing
Communicating effectively in writing as appropriate for the needs of the audience.
72.40%
Complex Problem Solving
Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
70.00%
Social Perceptiveness
Being aware of others' reactions and understanding why they react as they do.
67.60%
Active Learning
Understanding the implications of new information for both current and future problem-solving and decision-making.
67.60%
Judgment and Decision Making
Considering the relative costs and benefits of potential actions to choose the most appropriate one.
67.60%
Time Management
Managing one's own time and the time of others.
65.00%


Top 10 Relevant Abilities Relevant Importance Levels
Oral Comprehension
The ability to listen to and understand information and ideas presented through spoken words and sentences.
82.40%
Written Comprehension
The ability to read and understand information and ideas presented in writing.
82.40%
Oral Expression
The ability to communicate information and ideas in speaking so others will understand.
80.00%
Speech Recognition
The ability to identify and understand the speech of another person.
80.00%
Speech Clarity
The ability to speak clearly so others can understand you.
80.00%
Problem Sensitivity
The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.
75.00%
Information Ordering
The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
75.00%
Near Vision
The ability to see details at close range (within a few feet of the observer).
75.00%
Deductive Reasoning
The ability to apply general rules to specific problems to produce answers that make sense.
72.40%
Inductive Reasoning
The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
72.40%


  • Working with Computers
    -- Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Getting Information
    -- Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Performing for or Working Directly with the Public
    -- Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
  • Processing Information
    -- Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Evaluating Information to Determine Compliance with Standards
    -- Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
Other Activities


  • Relationships
    - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
  • Support
    - Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.



Tools

Inkjet printers: Computer inkjet printers;

Laser fax machine: Laser facsimile machines;

Notebook computers: Laptop computers;

Personal computers: Personal computers;

Photocopiers: Copy machines;

Printer calculator: Printing calculators;

Scanners: Document scanners;


Technology

Accounting software: Accounting software; Automated financial software;

Customer relationship management CRM software: Loan tracking software; Microsoft Dynamics;

Data base user interface and query software: Microsoft Access;

Desktop publishing software: Desktop publishing software;

Electronic mail software: Microsoft Outlook;

Financial analysis software: Encompass software; Fannie Mae Desktop Underwriter; Lending software systems; Automated underwriting software; Credit reporting software; Software AG Underwriting Solution;

Internet browser software: Web browser software;

Office suite software: Microsoft Office software;

Operating system software: Operating system software; Microsoft Windows;

Presentation software: Microsoft PowerPoint;

Spreadsheet software: Microsoft Excel; Rockport Integrated Excel Underwriting;

Word processing software: Microsoft Word;


Related O*NET occupational titles for Loan Interviewers and Clerks include:
  • 43-3011.00 Bill and Account Collectors
  • 43-3031.00 Bookkeeping, Accounting, and Auditing Clerks
  • 43-4011.00 Brokerage Clerks
  • 13-2041.00 Credit Analysts
  • 43-4041.00 Credit Authorizers, Checkers, and Clerks
  • 13-2071.00 Credit Counselors
  • 43-9041.00 Insurance Claims and Policy Processing Clerks
  • 13-2072.00 Loan Officers
  • 43-4141.00 New Accounts Clerks
  • 41-3031.00 Securities, Commodities, and Financial Services Sales Agents


Sources of Additional Information
  • For more information about financial clerks, visit: American Bankers Association
  • Mortgage Bankers Association
  • CareerOneStop

  • For a career video on brokerage clerks, visit: Brokerage Clerks
  • For a career video on credit authorizers, checkers and clerks, visit: Credit Authorizers, Checkers, and Clerks
  • For a career video on insurance claims and policy processing clerks, visit: Insurance Claims and Policy Processing Clerks
  • For a career video on payroll and timekeeping clerks, visit: Payroll and Timekeeping Clerks
  • Billing and Posting Clerks
  • Brokerage Clerks
  • Credit Authorizers, Checkers, and Clerks
  • Gambling Cage Workers
  • Insurance Claims and Policy Processing Clerks
  • Loan Interviewers and Clerks
  • New Accounts Clerks
  • Payroll and Timekeeping Clerks
  • Procurement Clerks

  • Contact Texas Workforce Commission
    Labor Market and Career Information  |  101 E. 15th Street, Annex Room 0252  |  Austin, Texas 78778
    Official Website  |  1-800-822-PLAN (7526)  |  512.936.3200

    ** The information in this report may be derived from many sources like O*NET, BLS (Bureau of Labor Statistics), OOH (Occupational Outlook Handbook), and Career One Stop.