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Automation Squad

Role

AI for Loan Officers

Robert MacKelfresh

By Robert MacKelfresh

Founder, Automation Squad

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.

Loan Officers · O*NET 13-2072.00 · Job Zone 4 · sourced from the U.S. Department of Labor occupation database

Automation coverage

11 of 40tools on this list have an AI solution available today

Counted by matching the tools this occupation is documented as using against a corpus of 226,452 AI products, MCP servers, skills and connectors. Where a tool has no match, we say so rather than inventing one.

AI you can use for this job

33 matched to the tools loan officers use. Showing 24.

The tools this job actually uses

88 documented for this occupation. Showing 40, hot technologies first. A filled dot means an AI solution exists for it.

  • Microsoft Accesshot
  • Microsoft Excelhot
  • Microsoft Office softwarehot
  • Microsoft Outlookhot
  • Microsoft PowerPointhot
  • Microsoft Wordhot
  • Oracle PeopleSofthot
  • SAP softwarehot
  • Zoomhot
  • 1003 Uniform Residential Loan Application
  • Amortization loan software
  • Bankers Systems Rembrandt Lending System
  • Bottom Line LoanMaster Loan Servicing
  • California Infinite LPS
  • Calyx Point
  • CGI-AMS BureauLink Enterprise
  • CGI-AMS CACS Enterprise
  • CGI-AMS Strata
  • Click1003 Online Mortgage Application
  • Common business oriented language COBOL
  • Credit and risk analysis software
  • Credit fraud detection software
  • Credit underwriting software
  • Customer information control system CICS
  • Datatel Colleague
  • Delphi Discovery
  • Dun and Bradstreet Global DecisionMaker
  • Dynamic Loanledger
  • eCredit Enterprise
  • EDExpress
  • Ellie Mae Contour
  • Ellie Mae Genesis
  • ELM Resources ELM
  • EMT Applications CounselorMax
  • eOriginal eCore Business Suite
  • Equifax Advanced Decisioning
  • Equifax Application Engine
  • Equifax InterConnect
  • Experian Credinomics
  • Experian Detect

What this job involves

30 documented tasks, most important first. Showing 24.

  1. Meet with applicants to obtain information for loan applications and to answer questions about the process.
  2. Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
  3. Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
  4. Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
  5. Submit applications to credit analysts for verification and recommendation.
  6. Review loan agreements to ensure that they are complete and accurate according to policy.
  7. Review and update credit and loan files.
  8. Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
  9. Work with clients to identify their financial goals and to find ways of reaching those goals.
  10. Handle customer complaints and take appropriate action to resolve them.
  11. Supervise loan personnel.
  12. Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
  13. Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
  14. Analyze potential loan markets and develop referral networks to locate prospects for loans.
  15. Compute payment schedules.
  16. Prepare reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action.
  17. Set credit policies, credit lines, procedures and standards in conjunction with senior managers.
  18. Assist in selection of financial award candidates using electronic databases to certify loan eligibility.
  19. Authorize or sign mail collection letters.
  20. Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.
  21. Confer with underwriters to resolve mortgage application problems.
  22. Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.
  23. Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.
  24. Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.
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