Occupational Employment Statistics
13-2072 Loan Officers
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.
Northwest Minnesota
| 560 | 35 | $41.01/hr | $21.98/hr | $28.13/hr | $37.90/hr | $49.04/hr | $65.42/hr |
Trade, Transportation and Utilities | 340 | $48.92/hr |
Financial Activities | 6,480 | $40.53/hr |
Professional and Business Services | 270 | $41.16/hr |
Education and Health Services | N/A | N/A |
Other Services | 30 | $49.85/hr |
Public Administration | 140 | $40.60/hr |
Securities, Commodities, and Financial Services Sales Agents
| 7,830 | $36.43/hr | 6.2% |
Tax Preparers
| 1,100 | $23.71/hr | 1.7% |
Tax Examiners and Collectors, and Revenue Agents
| 1,050 | $35.29/hr | 3.4% |
Insurance Underwriters
| 1,970 | $38.92/hr | -3.0% |
Insurance Sales Agents
| 8,840 | $38.23/hr | 7.4% |
Credit Authorizers, Checkers, and Clerks
| 180 | $23.65/hr | N/A |
New Accounts Clerks
| 1,440 | $23.09/hr | -16.5% |
Loan Interviewers and Clerks
| 4,320 | $24.06/hr | -3.2% |
Credit Counselors
| 710 | $28.85/hr | 5.3% |
Brokerage Clerks
| 1,170 | $27.90/hr | -9.2% |
- Supervise loan personnel.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Compute payment schedules.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Submit applications to credit analysts for verification and recommendation.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- 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.
- Work with clients to identify their financial goals and to find ways of reaching those goals.