Data & Research
 
* ELMI Occupation Profile - Loan Interviewers and Clerks *
 
Loan Interviewers and Clerks
(O*NET 43-4131.00, SOC 43-4131)
What they do
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, Loan Processor, Mortgage Broker, Mortgage Loan Processor, Mortgage Processor
 
 
Wages
Vermont - 2023
Percentile1HourlyYearly
10% $ 20.03   $41,670  
25% $ 21.53   $44,780  
Median $ 23.31   $48,490  
75% $ 26.45   $55,010  
90% $ 29.73   $61,830  
 
Average $ 23.95   $49,820  
1 What are Percentile Wages?
More at CareerOneStop
 
Industries of Employment
United States - 2020
IndustryPercent of total
  • Credit intermediation and related activities
81%
  • Management of companies and enterprises
6%
  • Insurance carriers and related activities
3%
  • Professional, scientific, and technical services
3%
  • Administrative and support services
2%
More at BLS
 
Knowledge
People in this career often know a lot about:
  • 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.
  • English Language
    Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Administrative
    Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology.
  • Computers and Electronics
    Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
  • Law and Government
    Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
More at O*NET
 
Skills
People in this career often have these skills:
  • Active Listening
    Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Speaking
    Talking to others to convey information effectively.
  • Reading Comprehension
    Understanding written sentences and paragraphs in work-related documents.
  • Critical Thinking
    Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems.
  • Writing
    Communicating effectively in writing as appropriate for the needs of the audience.
More at O*NET
 
Interests
People in this career often prefer these work environments:
  • Conventional
    Work involves following procedures and regulations to organize information or data, typically in a business setting. Conventional occupations are often associated with office work, accounting, mathematics/statistics, information technology, finance, or human resources.
  • Enterprising
    Work involves managing, negotiating, marketing, or selling, typically in a business setting, or leading or advising people in political and legal situations. Enterprising occupations are often associated with business initiatives, sales, marketing/advertising, finance, management/administration, professional advising, public speaking, politics, or law.
What are your interests? Take the O*NET Interest Profiler
 
Work Styles
People in this career will do well at jobs that need:
  • Attention to Detail
    Job requires being careful about detail and thorough in completing work tasks.
  • Integrity
    Job requires being honest and ethical.
  • Dependability
    Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  • Cooperation
    Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  • Initiative
    Job requires a willingness to take on responsibilities and challenges.
More at O*NET
 
Tasks
On the job, you would:
  • 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.
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.
  • Submit loan applications with recommendation for underwriting approval.
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
More at O*NET
 
Related Occupations
More at O*NET
 
 
Career Video
Watch at CareerOneStop with transcript or at YouTube.
 
Projected Employment
 Vermont
2020 employment 247
2030 employment 237
Annual percent change
(compounded)
-0.4%
Annual projected job openings
(due to change and separations)
20
More at Occupational Projections
 
Education and Experience:
  • Typical education needed for entry
    High school diploma or equivalent
  • Work experience in a related occupation
    None
  • Typical on-the-job training needed to attain competency
    Short-term on-the-job training
Based on BLS Education and Training Classifications
 
Physical Work Activity
Performing physical activities that require considerable use of your arms and legs and moving your whole body, such as climbing, lifting, balancing, walking, stooping, and handling materials.
 
  • Physical activity is Somewhat Important
  • Level of activity is Very Low
Importance
Low   High
Level
Compare Occupations at O*NET
 
Job Zone
Medium Preparation Needed
  • Specific Vocational Preparation Range
    (6.0 to < 7.0) - A typical worker will require over 1 year up to and including 2 years of training to achieve average performance in this occupation.
Based on O*Net Job Zones and SVP
 
Education Level
How much education do most people in this career have?
Education level Percent of
U.S. Workers
Doctoral or professional degree
or post-MA certificate
  0%
Master's degree or
post-BA certificate
  0%
Bachelor's degree   38%
Associate's degree   7%
Certificate or some college,
no degree
  12%
High school diploma
or equivalent
  43%
Less than high school diploma   0%
More at O*NET
 
Abilities
People in this career often have talent in:
  • Oral Comprehension
    The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension
    The ability to read and understand information and ideas presented in writing.
  • Oral Expression
    The ability to communicate information and ideas in speaking so others will understand.
  • Speech Clarity
    The ability to speak clearly so others can understand you.
  • Speech Recognition
    The ability to identify and understand the speech of another person.
More at O*NET
 
Work Activities
In general, what you might do:
  • Working with Computers
    Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Getting Information
    Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Performing for or Working Directly with the Public
    Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
  • Evaluating Information to Determine Compliance with Standards
    Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Processing Information
    Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
More at O*NET
 
Detailed Work Activities
What you might do in a day:
  • Verify accuracy of financial or transactional data.
  • Compile data or documentation.
  • Maintain financial or account records.
  • Prepare documentation for contracts, transactions, or regulatory compliance.
  • Provide notifications to customers or patrons.
More at O*NET
 
Other Resources
  • CareerOneStop
    resource for job seekers, students, businessess and career professionals
  • O*NET Online
    nation's primary source of occupational information
 
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This page includes information from the O*NET 28.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA.

BLS

This page includes information produced in cooperation with the U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics and State Occupational Projections programs.

 
 
 
 
Vermont.gov State of Vermont Department of Labor