Loan Interviewer and Clerk Careers

Nature of the Work

Loan interviewers, also called loan processors or loan clerks, interview applicants and others to obtain and verify personal and financial information for the purposes of completing loan applications. They also prepare the documents that go to the appraiser and are issued at closing.

Education and Training

A high school diploma or equivalent is generally the minimum needed to get into the occupation; some college coursework is usually preferred. Once hired, new interviewers receive short-term on-the-job-training to learn about pricing loans and about the rules and regulations regarding the issuing of loans. Excellent written and verbal communication skills are essential.

Job Outlook

Employment change. Employment is projected to grow slower than the average for all occupations. A growing population will, over time, spur demand for home loans and, thus, for loan interviewers to verify and process financial data on the application and to assemble documents and prepare them for settlement. However, the increasing use of online applications will limit demand for loan interviewers.

Job prospects. Prospects will be best for applicants with a broad range of job skills, including good customer service, math, and telephone skills. The job outlook for loan interviewers and clerks is sensitive to overall economic activity.