Occupation · SOC 13-2072
Loan Officers
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.
Median wage
$74,180
$38,490–$145,780
Projected growth
+1.7%
Slower than average
Annual openings
500
per year
Employed (US)
290,530
Job Zone 4
Typical preparation
Considerable preparation
Stackable credential programs
274 mapped
Core skills
SpeakingActive ListeningReading ComprehensionJudgment and Decision MakingCritical ThinkingWritingSocial PerceptivenessMathematicsComplex Problem SolvingTime ManagementActive LearningService OrientationPersuasionNegotiationMonitoringInstructingCoordinationLearning StrategiesSystems AnalysisManagement of Personnel ResourcesSystems EvaluationManagement of Financial ResourcesManagement of Material ResourcesTechnology DesignOperations MonitoringOperations AnalysisProgrammingQuality Control AnalysisOperation and ControlTroubleshootingScienceRepairingInstallationEquipment SelectionEquipment Maintenance
Knowledge areas
Customer and Personal ServiceEconomics and AccountingEnglish LanguageMathematicsSales and MarketingLaw and GovernmentAdministration and ManagementEducation and TrainingAdministrativeComputers and ElectronicsPersonnel and Human ResourcesCommunications and MediaProduction and ProcessingPsychologyPublic Safety and SecurityTelecommunicationsSociology and AnthropologyForeign LanguageBuilding and ConstructionPhilosophy and TheologyGeographyTransportationHistory and ArcheologyFood ProductionTherapy and CounselingEngineering and TechnologyMechanicalBiologyDesignPhysicsMedicine and DentistryChemistryFine Arts
Technology & tools
1003 Uniform Residential Loan ApplicationAmortization loan softwareBankers Systems Rembrandt Lending SystemBottom Line LoanMaster Loan ServicingCGI-AMS BureauLink EnterpriseCGI-AMS CACS EnterpriseCGI-AMS StrataCalifornia Infinite LPSCalyx PointClick1003 Online Mortgage ApplicationCommon business oriented language COBOLCredit and risk analysis softwareCredit fraud detection softwareCredit underwriting softwareCustomer information control system CICSDatatel ColleagueDelphi DiscoveryDun and Bradstreet Global DecisionMakerDynamic LoanledgerEDExpressELM Resources ELMEMT Applications CounselorMaxEllie Mae ContourEllie Mae GenesisEquifax Advanced DecisioningEquifax Application EngineEquifax InterConnectExperian CredinomicsExperian DetectExperian FraudShieldExperian QuestExperian Retention TriggersExperian Strategy ManagementExperian Transact SMFAS Loan Service PlusFair Isaac Application Risk Model SoftwareFair Isaac Capstone Decision ManagerFair Isaac Falcon IDFannie Mae Desktop UnderwriterFileMaker Pro
Representative tasks
Getting InformationEvaluating Information to Determine Compliance with StandardsEstablishing and Maintaining Interpersonal RelationshipsProcessing InformationAnalyzing Data or InformationWorking with ComputersCommunicating with People Outside the OrganizationMaking Decisions and Solving ProblemsCommunicating with Supervisors, Peers, or SubordinatesUpdating and Using Relevant KnowledgeOrganizing, Planning, and Prioritizing WorkDocumenting/Recording InformationJudging the Qualities of Objects, Services, or PeopleIdentifying Objects, Actions, and EventsPerforming for or Working Directly with the PublicInterpreting the Meaning of Information for OthersDeveloping and Building TeamsSelling or Influencing OthersPerforming Administrative ActivitiesResolving Conflicts and Negotiating with OthersThinking CreativelyMonitoring Processes, Materials, or SurroundingsCoordinating the Work and Activities of OthersScheduling Work and ActivitiesProviding Consultation and Advice to OthersDeveloping Objectives and StrategiesEstimating the Quantifiable Characteristics of Products, Events, or InformationGuiding, Directing, and Motivating SubordinatesCoaching and Developing OthersTraining and Teaching OthersInspecting Equipment, Structures, or MaterialsStaffing Organizational UnitsMonitoring and Controlling ResourcesAssisting and Caring for OthersControlling Machines and ProcessesPerforming General Physical ActivitiesHandling and Moving ObjectsRepairing and Maintaining Electronic EquipmentOperating Vehicles, Mechanized Devices, or EquipmentRepairing and Maintaining Mechanical Equipment
Competency framework
Skill expectations by proficiency level.
emerging
Loan application intake forms — collect and verify applicant information under direct supervisor guidance during initial client meetings.Basic loan product types — explain differences between fixed-rate, adjustable-rate, and personal loans to applicants using provided reference materials.Credit history documentation — obtain and compile copies of applicants' credit reports and financial statements following established office procedures.Loan file components — review completed applications for missing fields and obvious errors under close supervisory review.Financial analysis software — enter applicant data and generate preliminary credit summaries using standard templates on a bank or lending platform.Loan terminology and terminology — respond to common applicant questions about rates, terms, and fees using scripted talking points and supervisor support.Loan agreement checklists — verify that required disclosures and signatures are present in new loan packages according to compliance checklists.Credit and loan file records — update applicant records in the document management system following data-entry protocols with oversight.Application submission workflow — route completed files to credit analysts for verification using the institution's content workflow software.Regulatory basics — recognize applicable federal lending regulations such as TILA and RESPA in guided training scenarios.
developing
Applicant financial status — analyze income statements, credit scores, and debt-to-income ratios independently to assess loan feasibility for standard residential cases.Loan product recommendations — match applicants to appropriate loan types and terms based on financial profiles with routine supervisory check-ins.Loan approval decisions — approve applications within assigned authority limits and escalate those exceeding thresholds to management per institutional policy.Client interviews — conduct structured intake meetings with applicants to gather complete financial and property information with minimal direction.Credit file maintenance — review and update credit and loan files on a recurring basis to ensure accuracy and regulatory compliance in the loan management system.Financial documentation review — compile and cross-reference corporate financial statements, tax returns, and appraisals to support underwriting decisions.Loan agreement accuracy — review finalized loan agreements against policy requirements and flag discrepancies before closing without supervisory prompting.Customer service interactions — address applicant concerns about loan status and process timelines using active listening and clear oral communication.Enterprise resource planning tools — navigate ERP and accounting software to retrieve applicant financial data and produce standard reports.Time-sensitive pipeline management — prioritize multiple open loan files to meet processing deadlines in a high-volume branch environment.
proficient
Complex loan feasibility analyses — evaluate non-routine applications involving irregular income, business financials, or unique collateral to render well-supported credit decisions.Full loan origination cycle — manage the end-to-end process from initial applicant meeting through closing, handling exceptions and escalations autonomously.Portfolio risk assessment — interpret credit trends and financial indicators across a personal loan portfolio to identify emerging risk concentrations.Advanced financial analysis software — configure and apply analytical tools to model loan scenarios, stress-test assumptions, and optimize product structuring.Regulatory compliance adherence — ensure all loan documentation and approval processes conform to current federal and state lending laws without supervisory oversight.Cross-functional collaboration — coordinate with credit analysts, appraisers, and legal teams to resolve complex underwriting issues on commercial or jumbo loans.Customer financial counseling — advise applicants on credit improvement strategies and alternative financing options during consultative client engagements.Policy gap identification — detect inconsistencies between current loan agreement templates and evolving regulatory requirements and initiate corrective action.Inductive reasoning application — synthesize disparate financial data points from multiple sources to form cohesive creditworthiness conclusions for atypical borrowers.Loan officer productivity metrics — monitor personal pipeline efficiency, approval accuracy, and funding rates to continuously improve individual performance.
advanced
Lending policy development — design and refine institutional loan approval policies, underwriting standards, and product guidelines aligned with strategic risk appetite.Team leadership and mentorship — coach junior and mid-level loan officers on complex credit analysis techniques, compliance requirements, and client relationship skills.Organizational credit strategy — set directional priorities for the loan origination function, balancing growth targets with portfolio quality across multiple business units.Market and economic intelligence — interpret macroeconomic trends and competitive lending landscapes to guide product development and pricing strategy at the executive level.Regulatory relationship management — represent the institution in examinations, audits, and regulatory dialogues, ensuring enterprise-wide compliance with lending laws.Technology roadmap influence — evaluate and champion adoption of emerging financial analysis and loan origination platforms to drive efficiency across the department.Cross-departmental risk governance — lead credit risk committees, present portfolio analyses to senior leadership, and establish escalation frameworks for high-exposure decisions.High-value client relationship stewardship — cultivate and retain relationships with major commercial borrowers, structuring complex financing solutions at the institutional level.Performance framework design — develop competency models, KPIs, and training curricula for the loan officer function to elevate team capability organization-wide.Strategic loan portfolio optimization — direct data-driven reviews of the full loan portfolio to rebalance risk exposure, maximize yield, and align with long-term institutional goals.
Also known as
72 alternate job titles map to this occupation.
Agricultural Loan OfficerBank OfficerBank RepresentativeBanking Services OfficerBranch BankerBranch Lending OfficerBusiness BankerBusiness Banking OfficerCommercial BankerCommercial LenderCommercial Loan Collection OfficerCommercial Loan OfficerCommercial Mortgage BrokerCommercial Relationship ManagerConsumer Lending SpecialistConsumer Loan OfficerConsumer Loan SpecialistCorporate Banking OfficerEligibility ConsultantEscrow OfficerFarm Loan RepresentativeFarm Mortgage AgentFinancial Aid AdministratorFinancial Aid AdvisorFinancial Aid CoordinatorFinancial Aid CounselorFinancial Aid OfficerFinancial Aid TechnicianFinancial Assistance AdvisorFinancial Assistance SpecialistFinancial CounselorHome Lending AdvisorHome Lending OfficerLenderLoan AdministratorLoan AdviserLoan AnalystLoan ApproverLoan AuditorLoan Consultant