Occupational Employment Statistics

DETAILED OCCUPATION DATA

43-4131 Loan Interviewers and Clerks

Occupational Description:
Interview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.

Occupational Employment Statistics(OES) Wage Data
First Quarter 2020

Geography	Employment	Emp SE*	Percentiles
Geography	Employment	Emp SE*	Mean	10th	25th	Median	75th	90th
Southeast Minnesota	250	37	$20.97/hr	$15.64/hr	$17.60/hr	$20.58/hr	$24.10/hr	$28.25/hr

Leading Industries for Loan Interviewers and Clerks

Industry	OES Employment (Statewide)	OES Median Wage (Statewide)
Manufacturing	N/A	N/A
Trade, Transportation and Utilities	N/A	N/A
Financial Activities	4,730	$20.28/hr
Professional and Business Services	980	$20.71/hr
Education and Health Services	N/A	N/A
Other Services	N/A	N/A
Public Administration	N/A	N/A

Other Regional Data for Loan Interviewers and Clerks

Geography	Employment	Median Wage	Projections % Change 2016-2026
Grand Forks ND-MN MSA	50	$20.15/hr	N/A
Mankato-North Mankato MN MSA	50	$19.26/hr	N/A
Northeast Balance of State	60	$18.35/hr	N/A
Rochester MN MSA	110	$21.53/hr	N/A
La Crosse WI-MN MSA	130	$17.69/hr	N/A
Duluth MN-WI MSA	150	$18.99/hr	N/A
Northeast Minnesota	170	$18.77/hr	-8.7%
St Cloud MN MSA	200	$22.84/hr	N/A
Southeast Balance of State	200	$19.78/hr	N/A
Southeast Minnesota	250	$20.58/hr	-1.6%
Southwest Balance of State	290	$18.66/hr	N/A
Northwest Balance of State	310	$19.23/hr	N/A
Northwest Minnesota	340	$19.21/hr	-5.4%
Fargo ND-MN MSA	340	$22.04/hr	N/A
Southwest Minnesota	370	$19.24/hr	7.1%
Central Minnesota	410	$20.70/hr	0.7%
Seven County Mpls-St Paul, MN	4,110	$20.68/hr	7.2%
Minneapolis-St Paul-Bloomington MN-WI MSA	4,400	$20.72/hr	N/A
Minnesota	5,760	$20.35/hr	6.3%

Related Occupations

Occupations	Employment	Median Wage	Projections % Change 2016-2026
Securities, Commodities, and Financial Services Sales Agents	9,240	$41.58/hr	4.0%
Tax Examiners and Collectors, and Revenue Agents	1,170	$28.87/hr	2.6%
Accountants and Auditors	23,210	$33.06/hr	9.4%
Bill and Account Collectors	4,120	$18.53/hr	-5.5%
Insurance Underwriters	1,750	$35.09/hr	-8.4%
Loan Officers	8,550	$35.96/hr	8.1%
Brokerage Clerks	2,050	$24.24/hr	1.6%
New Accounts Clerks	980	$19.45/hr	-3.7%
Tax Preparers	1,350	$26.02/hr	10.7%
Correspondence Clerks	N/A	$22.72/hr	3.1%

Task for Loan Interviewers and Clerks

Check value of customer collateral to be held as loan security.
Verify and examine information and accuracy of loan application and closing documents.
Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
Record applications for loan and credit, loan information, and disbursements of funds, using computers.
Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
Answer questions and advise customers regarding loans and transactions.
File and maintain loan records.
Interview loan applicants to obtain personal and financial data and to assist in completing applications.
Submit loan applications with recommendation for underwriting approval.
Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.