Loan Interviewers and Clerks
Also called: Closer, Commercial Loan Processor, Consumer Loan Processor, Disbursement Clerk, Document Processor, Licensed Loan Officer Assistant, Loan Analyst, Loan Assistant
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.
What loan interviewers and clerks do
Typical tasks
- Interview loan applicants to obtain personal and financial data and to assist in completing applications.
- Answer questions and advise customers regarding loans and transactions.
- Submit loan applications with recommendation for underwriting approval.
- Verify and examine information and accuracy of loan application and closing documents.
- Record applications for loan and credit, loan information, and disbursements of funds, using computers.
- Check value of customer collateral to be held as loan security.
- Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
- Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
- Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
- Accept payment on accounts.
- Present loan and repayment schedules to customers.
- Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
Typical path into the job (BLS)
Loan Interviewers and Clerks salary
The median annual wage for loan interviewers and clerks is $50,020 (BLS OEWS May 2025; BLS Employment Projections 2025–35, national). The lowest 10 percent earn less than $37,330 and the highest 10 percent earn more than $69,770. The mean annual wage is $52,520.
The mean hourly wage of $25.00 is 3.4× the federal minimum wage of $7.25. State minimums are higher in most large states. Minimum wage by state →
How does your pay compare with people your age?
Your numbers are not sent or stored. The comparison uses this occupation's BLS wage percentiles, adjusted for age with BLS median weekly earnings by age group (Q3 2026).
Pay by percentile
Annual wage percentiles from the BLS Occupational Employment and Wage Statistics (OEWS). Percentiles are a good proxy for pay by experience.
Projected pay for Loan Interviewers and Clerks (3, 5 and 10 years)est.
Today $50,020 → in 3 years $52,600 → in 5 years $54,400 → in 10 years $59,100 (10-year range $50,900–$68,700). The model assumes pay growth of +1.7% per year.
What drives the annual growth rate
Projected pay = current pay × (1 + annual growth)^years. The annual growth rate starts from a base wage-growth rate and adds or subtracts labor demand (BLS projected employment growth), wage momentum and AI replacement risk for each occupation. Projections are not guarantees. How it is calculated →
Outlook score for Loan Interviewers and Clerks
Each component is a percentile rank among all occupations in the same country (0–100). Weights: labor demand 25, wage momentum / openings 15, pay level 15, AI resistance 25, aging workforce 10 (Japan only), entry barrier 10.
Will AI replace Loan Interviewers and Clerks? AI replacement risk
How AI is changing this job
A written analysis for this occupation is being prepared.
AI replacement risk compares the parts of a job that are easy to hand to AI or software (processing information, documentation, repetitive computer work) with the parts that are hard to automate (physical work, working closely with people, judgment in unpredictable settings), using O*NET work activities, work context, skills and knowledge. The result is a relative position among all occupations in the country, scaled to 0–100%. Methodology →
Labor demand for Loan Interviewers and Clerks
Employment projections are from the BLS Employment Projections program (2025–35). Annual openings include both new jobs and replacement of workers who leave the occupation.
Skills, education and requirements for Loan Interviewers and Clerks
Key skills
O*NET skill level ratings (0–7).
Key knowledge areas
What the work involves
Important abilities
Education of workers
Training before entry
Related work experience
Job Zone 3 — medium preparation needed (O*NET)
Difficulty of entry: ★★☆☆☆ Fairly easy (from education, training, experience and Job Zone)
How to become loan interviewers and clerks
A step-by-step guide for this occupation is being prepared. The education, training and experience data above show the typical path.
Career path and how to earn more as loan interviewers and clerks
Career-path guidance is being prepared. Pay by percentile is shown in the Pay section.