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Career Details :: Loan Counselors

Description

Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.

Experience

A minimum of two to four years of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

Education

Most of these occupations require a four-year bachelor's degree, but some do not.

Training

Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.

Tasks

• Analyzes applicant's financial status, credit, and property evaluation to determine feasibility of granting loan.
• Petitions court to transfer title and deeds of collateral to bank.
• Submits application to credit analyst for verification and recommendation.
• Supervises loan personnel.
• Negotiates payment arrangements with customers for delinquent loan balance.
• Arranges for maintenance and liquidation of delinquent property.
• Analyzes potential loan markets to develop prospects for loans.
• Confers with underwriters to aid in resolving mortgage application problems.
• Refers loan to loan committee for approval.
• Contacts applicant or creditors to resolve questions regarding application information.
• Ensures loan agreements are complete and accurate according to policy.
• Computes payment schedule.
• Interviews applicant and requests specified information for loan application.
• Approves loan within specified limits.

Related Careers

• Billing, Cost, and Rate Clerks
  
• Brokerage Clerks
  
• Credit Analysts
  
• Financial Analysts
  
• Loan Interviewers and Clerks
  
• New Accounts Clerks
  
• Personal Financial Advisors
  
• Tax Examiners, Collectors, and Revenue Agents
  
• Tax Preparers
  
• Tellers
  

Important Abilities

• Written Comprehension
• Oral Expression
• Number Facility
• Written Expression
• Oral Comprehension

General Work Activities

• Getting Information Needed to Do the Job
• Analyzing Data or Information
• Communicating With Other Workers
• Communicating With Persons Outside Organization
• Establishing & Maintaining Relationships

Important Skills

• Speaking
  
• Information Gathering
  
• Mathematics
  
• Judgment and Decision Making
  
• Reading Comprehension
  

Frequent Work Context

• Job-Required Social Interaction
• Indoors
• Consequence of Error
• Importance of Being Exact or Accurate
• Importance of Being Sure All Is Done

Related Majors

Major	Add to XapPack
Banking	[ add ]
Banking/Finance	[ add ]
Bankruptcy	[ add ]
Business Administration/Finance	[ add ]
Business Financial Management	[ add ]
Business Management/Banking	[ add ]
Business/Finance	[ add ]
Business/Management/Finance	[ add ]
Commerce/Finance	[ add ]
Corporate Financial Management	[ add ]
Economics/Finance	[ add ]
Farm Business Management/Finance	[ add ]
Finance	[ add ]
Finance/Banking	[ add ]
Finance/Business	[ add ]
Finance/Economics	[ add ]
Finance/Financial Services	[ add ]
Finance/Insurance	[ add ]
Finance/International Business	[ add ]
Finance/Investments	[ add ]
Finance/Marketing	[ add ]
Finance/Pre-Law	[ add ]
Finance/Real Estate	[ add ]
Finance/Real Estate/Law	[ add ]
Financial Management	[ add ]
Financial Markets/Trading	[ add ]
Financial Planning/Services	[ add ]
Financial Services	[ add ]
Financial Services/Planning	[ add ]
Financial Services/Risk Management	[ add ]
Global Business	[ add ]
Global Financial Analysis	[ add ]
Insurance/Finance	[ add ]
International Business Finance	[ add ]
International Economics/Finance	[ add ]
International Marketing/Finance	[ add ]
International Trade/Finance	[ add ]
Quantitative Methods/Finance	[ add ]

Institutions Offering Related Majors

No institutions found.