Loan Officers

Loan Officers

Career outlook for

Loan Officers

What's it like?

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.

Working conditions


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

Top Skills

  • Instructing.
  • Reading Comprehension.
  • Writing.
  • Active Listening.
  • Critical Thinking.
  • Persuasion.
  • Learning Strategies.
  •  Monitoring.
  • Judgment and Decision Making.
  • Complex Problem Solving.
  • Service Orientation.
  • Time Management.
  • Coordination.
  • Management of Personnel Resources.
  • Negotiation.
  • Active Learning.
  • Mathematics.


Bachelor degree in Business Administration , Marketing , Finance

Average Salary​

10752/ Month

Career Pathway

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