Loan Interviewers and Clerks
SOC Code: 43-4131 Job Zone 3: Medium Preparation Needed
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.
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Prevailing Wage Levels (National)
DOL/OFLC prevailing wage thresholds for Loan Interviewers and Clerks. Hourly rates x 2,080 = annual.
FY2027 Weighted Lottery Impact
| Level | Lottery Entries | Est. Selection Rate |
|---|---|---|
| Level I (Entry) | 1 entry | ~16% |
| Level II (Qualified) | 2 entries | ~31% |
| Level III (Experienced) | 3 entries | ~45% |
| Level IV (Expert) | 4 entries | ~61% |
Prevailing Wages by Metro Area
| Metro Area | Level I | Level II | Level III | Level IV |
|---|---|---|---|---|
| San Jose-Sunnyvale-Santa Clara, CA | $54,475 | $61,922 | $69,389 | $76,835 |
| Seattle-Tacoma-Bellevue, WA | $49,171 | $57,179 | $65,208 | $73,216 |
| San Francisco-Oakland-Fremont, CA | $50,253 | $57,762 | $65,291 | $72,800 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $45,469 | $53,747 | $62,026 | $70,304 |
| Salinas, CA | $45,427 | $53,726 | $62,005 | $70,304 |
| Lexington Park, MD | $44,221 | $52,291 | $60,362 | $68,432 |
| New York-Newark-Jersey City, NY-NJ | $45,718 | $53,144 | $60,570 | $67,995 |
| Napa, CA | $49,379 | $55,390 | $61,422 | $67,434 |
| Bridgeport-Stamford-Danbury, CT | $51,730 | $56,888 | $62,067 | $67,226 |
| Olympia-Lacey-Tumwater, WA | $47,299 | $53,851 | $60,403 | $66,955 |
Key Skills
| Skill | Importance | Level |
|---|---|---|
| Active Listening | 4.1 | |
| Speaking | 4.0 | |
| Reading Comprehension | 3.9 | |
| Critical Thinking | 3.8 | |
| Writing | 3.6 | |
| Complex Problem Solving | 3.5 | |
| Judgment and Decision Making | 3.4 | |
| Active Learning | 3.4 | |
| Social Perceptiveness | 3.4 | |
| Time Management | 3.2 |
Knowledge Areas
| Knowledge | Importance |
|---|---|
| Customer and Personal Service | 4.4 |
| English Language | 4.2 |
| Administrative | 3.7 |
| Computers and Electronics | 3.4 |
| Law and Government | 3.4 |
| Mathematics | 3.4 |
| Administration and Management | 2.9 |
| Education and Training | 2.9 |
Education Requirements
| Education Level | % of Workers |
|---|---|
| High school diploma | 42.9% |
| Bachelor's degree | 38.3% |
| Some college | 12.1% |
| Associate's degree | 6.7% |
Typical Tasks
- Verify and examine information and accuracy of loan application and closing documents.
- Interview loan applicants to obtain personal and financial data and to assist in completing applications.
- Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
- Answer questions and advise customers regarding loans and transactions.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
- Present loan and repayment schedules to customers.
Technology Skills
Green = Hot Technology in demand
Microsoft Access Microsoft Excel Microsoft Office software Microsoft Outlook Microsoft PowerPoint Microsoft Windows Microsoft Word Accounting software Automated financial software Automated underwriting software Credit reporting software Desktop publishing software Encompass software Fannie Mae Desktop Underwriter Lending software systems
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