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, and loan underwriters.
for Loan Officers
The typical entry level education for this occupation is a bachelor’s degree.
Examples of the knowledge needed for success in this occupation is listed below, in order of importance.
- 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.
- Economics and Accounting: Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- English Language: Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Mathematics: Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Computers and Electronics: Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Examples of the skills needed for success in this occupation are listed below, in order of importance.
- Active Listening: Listening to others, not interrupting, and asking good questions.
- Speaking: Talking to others.
- Judgment and Decision Making: Thinking about the pros and cons of different options and picking the best one.
- Reading Comprehension: Reading work-related information.
- Critical Thinking: Thinking about the pros and cons of different ways to solve a problem.
Examples of the abilities needed for success in this occupation are listed below, in order of importance.
- Oral Expression: Communicating by speaking.
- Oral Comprehension: Listening and understanding what people say.
- Speech Clarity: Speaking clearly.
- Inductive Reasoning: Making general rules or coming up with answers from lots of detailed information.
- Deductive Reasoning: Using rules to solve problems.
Detailed Work Activities
Examples of the detailed work activities involved with this occupation are listed below, in order of importance.
- Assess financial status of clients.
- Gather financial records.
- Interview clients to gather financial information.
- Interpret financial information for others.
- Verify accuracy of financial information.