Alabama Department of Labor

Labor Market Information Division
SOC: 43-4131 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.
Education: Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.
OJT: Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.
Tasks: Verify and examine information and accuracy of loan application and closing documents. Interview loan applicants to obtain personal and financial data and to assist in completing applications. Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts. Answer questions and advise customers regarding loans and transactions. Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications. Record applications for loan and credit, loan information, and disbursements of funds, using computers. Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers. Present loan and repayment schedules to customers. Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators. Check value of customer collateral to be held as loan security. Contact credit bureaus, employers, and other sources to check applicants' credit and personal references. File and maintain loan records. Schedule and conduct closings of mortgage transactions. Accept payment on accounts.
License: License not required.
Outlook: Satisfactory
Alabama Employment Outlook
Alabama Wage Data
Hourly Wage   Annual Wage
Entry $11.28   Entry $23,467.00
Mean $16.23   Mean $33,758.00
Experience $18.71 Experience $38,908.00

The data is based on the May 2017 Occupation Employment Survey employment and wage estimate file. The wages have been aged using the most current ECI factors reflecting wages as of June 2018.

Alabama Projections
Estimated Employment 2016Projected Employment 2026Annual Average OpeningsAnnual Growth Rate
Related Occupations: Postsecondary Institutions With Programs:
Bill and Account Collectors
Brokerage Clerks
Human Resources Assistants, Except Payroll and Timekeeping
Insurance Claims Clerks
Legal Secretaries
New Accounts Clerks
Payroll and Timekeeping Clerks
Secretaries and Administrative Assistants, Except Legal, Medical, and Executive
Tax Examiners and Collectors, and Revenue Agents
Tax Preparers
No postsecondary schools reported programs.
Occupational Videos
43-4131.00 Loan Interviewers and Clerks