Career Occupational Profile for :
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.

Signficant Points

• A high school diploma or its equivalent is the most common educational requirement.
• Familiarity with computers and strong interpersonal skills are very important

Overview

Sample Job Titles

Training

• These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include funeral directors, electricians, forest and conservation technicians, legal secretaries, interviewers, and insurance sales agents.
• Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree. Some may require a bachelor's degree.
• Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.
• Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers.

There are minimal formal educational requirements for interviewers, and most new employees receive on-the-job training. Employers seek applicants with strong interpersonal skills, including a pleasant personality, clear voice, and the ability to communicate with others.

Education and training. Most employers prefer applicants with a high school diploma or its equivalent or a mix of education and related experience.

New employees generally train on the job, working under the close supervision of more experienced employees, although some firms offer formal training. Some loan interviewers also take courses about credit that are offered by banking and credit associations, public and private vocational schools, and colleges and universities.

Other qualifications. Because interviewers deal with the public, they must have a pleasant personality, clear speaking voice, and professional appearance. Familiarity with computers and strong interpersonal skills are very important. Fluency in a foreign language also can be beneficial.

Advancement. Experienced interviewers may advance to positions with added responsibilities or supervisory duties. Many organizations fill open supervisory positions by promoting qualified individuals from within the company. Interviewers who obtain additional skills or training will have the best opportunities. For some managerial positions, a college degree may be required.

Nature of Work

Interviewers obtain information from individuals and business representatives who are opening bank accounts, trying to obtain loans, seeking admission to medical facilities, participating in consumer surveys, applying to receive aid from government programs, or providing data for various other purposes. By mail, by telephone, or in person, these workers solicit and verify information, create files, and perform a number of other related tasks.

The specific duties and job titles of interviewers depend upon the type of employer. In doctors’ offices and other health care facilities, for example, interviewing clerks also are known as admitting interviewers or patient representatives. These workers obtain all preliminary information required for a patient’s record or for his or her admission to a hospital, such as the patient’s name, address, age, medical history, present medications, previous hospitalizations, religion, people to notify in case of emergency, attending physician, and party responsible for payment. In some cases, interviewing clerks may be required to verify that an individual is eligible for health benefits or to work out financing options for those who might need them.

Other duties of interviewers in health care include assigning patients to rooms and summoning escorts to take patients to their rooms; sometimes, interviewers may escort patients themselves. Using the facility’s computer system, interviewers schedule laboratory work, x rays, and surgeries; prepare admission and discharge records; and route these medical records to appropriate departments. They also may bill patients, receive payments, and answer the telephone. In an outpatient or office setting, interviewers schedule appointments, keep track of cancellations, and provide general information about care. In addition, the role of the admissions staff, particularly in hospitals, is expanding to include a wide range of patient services, from assisting patients with financial and medical questions to helping family members find hotel rooms.

Interviewing clerks who conduct market research surveys and polls for research firms have somewhat different responsibilities. These interviewers ask a series of prepared questions, record the responses, and forward the results to management. They may ask individuals questions about their occupation and earnings, political preferences, buying habits, satisfaction with certain goods or services sold to them, or other aspects of their lives. Although most interviews are conducted over the telephone, some are conducted in focus groups or by randomly polling people in a public place. More recently, the Internet is being used to elicit people’s opinions. Almost all interviewers use computers or similar devices to enter the responses to questions.

Eligibility interviewers, government programs, determine the eligibility of individuals applying to receive government assistance, such as welfare, unemployment benefits, Social Security benefits, and public housing. These interviewers gather the relevant personal and financial information about an applicant and, on the basis of the rules and regulations of the particular government program, grant, modify, deny, or terminate an individual’s eligibility for the program. They also help to detect fraud committed by people who try to obtain benefits that they are not eligible to receive.

Loan interviewers and clerks review individuals’ credit history and obtain the information needed to determine the creditworthiness of applicants for loans and credit cards. These workers spend much of their day on the telephone, obtaining information from credit bureaus, employers, banks, credit institutions, and other sources to determine an applicant’s credit history and ability to pay back a loan or charge.

Loan interviewers interview potential borrowers; help them fill out applications for loans; investigate the applicant’s background and references; verify the information on the application; and forward any findings, reports, or documents to the company’s appraisal department. Finally, interviewers inform the applicant as to whether the loan has been accepted or denied.

Loan clerks, also called loan processing clerks, loan closers, or loan service clerks, assemble documents pertaining to a loan, process the paperwork associated with the loan, and ensure that all information is complete and verified. Mortgage loans are the primary type of loan handled by loan clerks, who also may have to order appraisals of the property, set up accounts, and secure any additional information required to transfer the property.

The specific duties of loan clerks vary by specialty. Loan closers, for example, complete the loan process by gathering the proper documents for signature at the closing, including deeds of trust, property insurance papers, and title commitments. They set the time and place for the closing, make sure that all parties are present, and ensure that all conditions for settlement have been met. After the settlement, the loan closer records all of the documents involved and submits the final package to the owner of the loan. Loan service clerks maintain the payment records on a loan once it is issued. These clerical workers process the paperwork for payment of fees to insurance companies and tax authorities, and also may record changes in clients’ addresses and ownership of a loan. When necessary, they answer calls from customers with routine inquiries.

Work environment. Working conditions vary for different types of interviewers, but most of these workers work in areas that are clean, well lit, and relatively quiet. Most of these workers work a standard 35 to 40 hour week, but evening and weekend work may be required in some establishments. Some interviewers may conduct surveys on the street or in shopping malls, or they may go door to door.

Related Occupations

• Tax Preparers
• Billing, Cost, and Rate Clerks
• Bookkeeping, Accounting, and Auditing Clerks
• Tellers
• New Accounts Clerks
• Order Clerks
• Insurance Claims Clerks
• Office Clerks

Related Academic Programs

• Banking and Financial Support Services.