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.
Southeast Minnesota
| 600 | 73 | $38.85/hr | $21.63/hr | $26.19/hr | $34.95/hr | $48.82/hr | $62.90/hr |
Manufacturing | N/A | N/A |
Trade, Transportation and Utilities | 370 | $34.23/hr |
Information | N/A | N/A |
Financial Activities | 7,620 | $36.18/hr |
Professional and Business Services | 350 | $32.82/hr |
Education and Health Services | N/A | N/A |
Other Services | 30 | $32.21/hr |
Public Administration | 160 | $34.66/hr |
Securities, Commodities, and Financial Services Sales Agents
| 9,240 | $41.58/hr | 4.0% |
Tax Preparers
| 1,350 | $26.02/hr | 10.7% |
Tax Examiners and Collectors, and Revenue Agents
| 1,170 | $28.87/hr | 2.6% |
Insurance Underwriters
| 1,750 | $35.09/hr | -8.4% |
Credit Authorizers, Checkers, and Clerks
| 570 | $23.91/hr | -0.5% |
Loan Interviewers and Clerks
| 5,760 | $20.35/hr | 6.3% |
New Accounts Clerks
| 980 | $19.45/hr | -3.7% |
Insurance Sales Agents
| 8,090 | $29.13/hr | 9.0% |
Personal Financial Advisors
| 3,900 | $38.76/hr | 17.4% |
Brokerage Clerks
| 2,050 | $24.24/hr | 1.6% |
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- Review and update credit and loan files.
- Submit applications to credit analysts for verification and recommendation.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Compute payment schedules.
- Meet with applicants to obtain information for loan applications and to answer questions about the process.