Loan Interviewers and Clerks
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.
Also called: Closer · Licensed Loan Officer Assistant · Loan Analyst · Loan Clerk · Loan Closer · Loan Originator
Median pay (national)
$48,950
$36,360–$65,910 (10th–90th)
Employed (US)
173,100
BLS OEWS, May 2024
Outlook 2024–34
-2.3%
~13,300 openings/yr
Typical entry
High school diploma or equivalent
What the numbers say
Refit analysis ·Pay for loan interviewers and clerks shows a broad range: the top 10% earn $65,910 versus $36,360 at the bottom 10% — 1.8x. The median of $48,950 leaves roughly 35% of headroom to the 90th percentile, which is where seniority, specialization, and the skills below tend to pay off.
Refit analysis ·Employment is projected to change -2.3% from 2024 to 2034 — a projected decline, against +3% across all occupations. Even so, BLS projects about 13,300 openings a year, mostly to replace workers who retire or change careers.
Refit analysis ·Where you work moves the number a lot. Across the 52 states with released data, District of Columbia pays the most for this role (median $77,730, +59% vs the national median), while Puerto Rico sits lowest at $28,380 — a 174% spread for the same job title.
Refit analysis ·O*NET rates Active Listening, Speaking, Reading Comprehension as the highest-importance skills here — so a resume aimed at this role should lead with evidence of those, not a generic skills list. On the tools side, O*NET flags Microsoft Excel, Microsoft Office software, Microsoft Outlook, Microsoft PowerPoint as in-demand technologies for this role.
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Top skills employers ask for
Ranked by O*NET importance for this occupation.
- Active Listening
- Speaking
- Reading Comprehension
- Critical Thinking
- Writing
- Active Learning
- Mathematics
- Monitoring
- Learning Strategies
- Science
What they actually do
Core O*NET tasks for this role.
- Verify and examine information and accuracy of loan application and closing documents.
- Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
- Submit loan applications with recommendation for underwriting approval.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- Interview loan applicants to obtain personal and financial data and to assist in completing applications.
- Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
- Answer questions and advise customers regarding loans and transactions.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- File and maintain loan records.
- Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
Tools & technology
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Word
- Microsoft Windows
- Automated financial software
- Automated underwriting software
- Credit reporting software
- Encompass software
- Fannie Mae Desktop Underwriter
- Lending software systems
- Loan tracking software
- Microsoft Dynamics
- Rockport Integrated Excel Underwriting
- Software AG Underwriting Solution
Knowledge areas
- Customer and Personal Service
- English Language
- Administrative
- Computers and Electronics
- Law and Government
- Mathematics
- Administration and Management
- Education and Training