Loan Officer - Indiana Regions Overview:
The graph above shows that there were
1,254 job postings for the occupation of Loan Officer in Indiana during 2013 and 2014. The vertical bar chart shows which regions had the most demand for Loan Officer. These numbers represent current demand as advertised in online job postings and do not necessarily indicate projected job growth in the future. Nevertheless, these numbers are a valid barometer for gauging recent job demand statewide and regionally in Indiana.
What Loan Officer Do:
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, and loan underwriters.
Common Job Activities:
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Handle customer complaints and take appropriate action to resolve them.
- Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Review and update credit and loan files.
- Submit applications to credit analysts for verification and recommendation.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Compute payment schedules.
- Confer with underwriters to aid in resolving mortgage application problems.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Negotiate payment arrangements with customers who have delinquent loans.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
- Supervise loan personnel.
- Interview, hire, and train new employees.
- Provide special services such as investment banking for clients with more specialized needs.
- Arrange for maintenance and liquidation of delinquent properties.
- Petition courts to transfer titles and deeds of collateral to banks.
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