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Loan Interviewers and Clerks

High69.88%
Found in Industries:
Salary Range
Low (10th %)$35,010
Median$47,380
High (90th %)$63,070

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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.

The occupation "Loan Interviewers and Clerks" faces an automation risk of 69.9%, indicating that a significant portion of the job's tasks can be efficiently performed by machines or software. This risk is closely aligned with the base risk of 70.8%, which represents the overall susceptibility of the job to automation based on industry trends and the nature of the work involved. The primary reason for this high risk is the task-oriented, routine, and rule-based nature of many responsibilities in this job, making them easier to translate into algorithms or automated workflows. Among the tasks most vulnerable to automation are those involving the verification and examination of loan application and closing documents, the assembly and compilation of necessary documents for loan closings, and the recording of information related to loan applications, credit, and fund disbursements. These activities are largely repetitive, structured, and standardized, and thus well-suited for automation by existing technologies such as optical character recognition (OCR), document management systems, and database software. Modern advancements in artificial intelligence now allow for rapid document processing, data extraction, and even anomaly detection, which further accelerates the automation of these clerical tasks. However, certain core responsibilities of loan interviewers and clerks remain more resistant to automation, acting as important bottlenecks to complete technological replacement. These resistant tasks include establishing credit limits and granting extensions of credit on overdue accounts, scheduling and conducting closings of mortgage transactions, and accepting payments on accounts. These duties often require discretion, interpersonal communication, and case-by-case judgment, which are currently challenging for automated systems to replicate. Furthermore, bottleneck skills such as originality—measured at a low 2.6% and 2.8% within this role—demonstrate that while the position requires some degree of creative problem-solving, the overall need for such uniquely human skills remains minimal compared to more routine clerical work, thus contributing to the relatively high automation risk.

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

Inspecting Equipment, Structures, or MaterialsMonitoring Processes, Materials, or SurroundingsEstimating the Quantifiable Characteristics of Products, Events, or InformationGetting InformationIdentifying Objects, Actions, and EventsJudging the Qualities of Objects, Services, or PeopleProcessing InformationEvaluating Information to Determine Compliance with StandardsAnalyzing Data or InformationUpdating and Using Relevant KnowledgeDeveloping Objectives and StrategiesScheduling Work and ActivitiesOrganizing, Planning, and Prioritizing WorkPerforming General Physical ActivitiesHandling and Moving ObjectsControlling Machines and ProcessesOperating Vehicles, Mechanized Devices, or EquipmentWorking with ComputersRepairing and Maintaining Electronic EquipmentDocumenting/Recording InformationDrafting, Laying Out, and Specifying Technical Devices, Parts, and EquipmentInterpreting the Meaning of Information for OthersCommunicating with Supervisors, Peers, or SubordinatesCommunicating with People Outside the OrganizationRepairing and Maintaining Mechanical EquipmentEstablishing and Maintaining Interpersonal RelationshipsAssisting and Caring for OthersSelling or Influencing OthersResolving Conflicts and Negotiating with OthersPerforming for or Working Directly with the PublicCoordinating the Work and Activities of OthersDeveloping and Building TeamsTraining and Teaching OthersGuiding, Directing, and Motivating SubordinatesCoaching and Developing OthersProviding Consultation and Advice to OthersPerforming Administrative ActivitiesStaffing Organizational UnitsMonitoring and Controlling ResourcesMaking Decisions and Solving ProblemsThinking Creatively

Financial Managers
Medium52.15%
Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.
Credit Analysts
Medium60.56%
Analyze credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with credit information for use in decisionmaking.
Personal Financial Advisors
Medium51.60%
Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients.
Insurance Underwriters
Medium56.34%
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Financial Examiners
Medium47.79%
Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify, or authenticate records.
Credit Counselors
Medium58.89%
Advise and educate individuals or organizations on acquiring and managing debt. May provide guidance in determining the best type of loan and explain loan requirements or restrictions. May help develop debt management plans or student financial aid packages. May advise on credit issues, or provide budget, mortgage, bankruptcy, or student financial aid counseling.
Loan Officers
Medium61.78%
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.
Tax Examiners and Collectors, and Revenue Agents
Medium59.98%
Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
Tax Preparers
Medium65.75%
Prepare tax returns for individuals or small businesses.
Title Examiners, Abstractors, and Searchers
Medium60.33%
Search real estate records, examine titles, or summarize pertinent legal or insurance documents or details for a variety of purposes. May compile lists of mortgages, contracts, and other instruments pertaining to titles by searching public and private records for law firms, real estate agencies, or title insurance companies.
Securities, Commodities, and Financial Services Sales Agents
High72.23%
Buy and sell securities or commodities in investment and trading firms, or provide financial services to businesses and individuals. May advise customers about stocks, bonds, mutual funds, commodities, and market conditions.
Bill and Account Collectors
Medium65.81%
Locate and notify customers of delinquent accounts by mail, telephone, or personal visit to solicit payment. Duties include receiving payment and posting amount to customer's account, preparing statements to credit department if customer fails to respond, initiating repossession proceedings or service disconnection, and keeping records of collection and status of accounts.
Billing and Posting Clerks
High79.60%
Compile, compute, and record billing, accounting, statistical, and other numerical data for billing purposes. Prepare billing invoices for services rendered or for delivery or shipment of goods.
Bookkeeping, Accounting, and Auditing Clerks
High84.94%
Compute, classify, and record numerical data to keep financial records complete. Perform any combination of routine calculating, posting, and verifying duties to obtain primary financial data for use in maintaining accounting records. May also check the accuracy of figures, calculations, and postings pertaining to business transactions recorded by other workers.
Tellers
High75.92%
Receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions.
Brokerage Clerks
High79.00%
Perform duties related to the purchase, sale, or holding of securities. Duties include writing orders for stock purchases or sales, computing transfer taxes, verifying stock transactions, accepting and delivering securities, tracking stock price fluctuations, computing equity, distributing dividends, and keeping records of daily transactions and holdings.
Credit Authorizers, Checkers, and Clerks
High74.20%
Authorize credit charges against customers' accounts. Investigate history and credit standing of individuals or business establishments applying for credit. May interview applicants to obtain personal and financial data, determine credit worthiness, process applications, and notify customers of acceptance or rejection of credit.
Eligibility Interviewers, Government Programs
High66.78%
Determine eligibility of persons applying to receive assistance from government programs and agency resources, such as welfare, unemployment benefits, social security, and public housing.
New Accounts Clerks
High67.67%
Interview persons desiring to open accounts in financial institutions. Explain account services available to prospective customers and assist them in preparing applications.
Insurance Claims and Policy Processing Clerks
High81.10%
Process new insurance policies, modifications to existing policies, and claims forms. Obtain information from policyholders to verify the accuracy and completeness of information on claims forms, applications and related documents, and company records. Update existing policies and company records to reflect changes requested by policyholders and insurance company representatives.
Appraisers of Personal and Business Property
Medium58.93%
Appraise and estimate the fair value of tangible personal or business property, such as jewelry, art, antiques, collectibles, and equipment. May also appraise land.
Appraisers and Assessors of Real Estate
Medium57.53%
Appraise real estate, exclusively, and estimate its fair value. May assess taxes in accordance with prescribed schedules.
Insurance Sales Agents
Medium58.36%
Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.
Real Estate Brokers
Medium50.81%
Operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.
Real Estate Sales Agents
Medium50.79%
Rent, buy, or sell property for clients. Perform duties such as study property listings, interview prospective clients, accompany clients to property site, discuss conditions of sale, and draw up real estate contracts. Includes agents who represent buyer.

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