Loan Administrator / Manager
Quick Facts
Median Salary$73,472
Most Common EducationBachelor's degree
Projected 10-Year Growth-15.12%
Assessment MatchTake the Assessment
What They Do
A Loan Administrator or Manager services a loan once it has been agreed. Sends monthly bills to the loan recipient. May also maintain payment records and monitor compliance with the loan agreement.
Core Tasks:
- Meet with applicants to obtain information for loan applications and to answer questions about the process.
- Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.
- Approve loans within specified limits, and refer loan applications outside those limits to management for approval.
- 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.
- Review loan agreements to ensure that they are complete and accurate according to policy.
- Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information.
- Review and update credit and loan files.
- Handle customer complaints and take appropriate action to resolve them.
- Work with clients to identify their financial goals and to find ways of reaching those goals.
- Stay abreast of new types of loans and other financial services and products to better meet customers' needs.
- Market bank products to individuals and firms, promoting bank services that may meet customers' needs.
- Analyze potential loan markets and develop referral networks to locate prospects for loans.
- Compute payment schedules.
What to expect as a Loan Administrator / Manager
1Earn a Bachelor's degree
48% of people achieve this level of education.
2Gain skills and experience
See Loan Administrator / Manager related courses on Tallo
3Land a job
887 openings for Loan Administrator / Managers
Career Progression
in United States (Nation)
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