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"Loan Counselor"
Job Description - Part 1 - Duties and Tasks

Basic Job Description:

Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.

Part 1
Duties / Tasks
Part 2
Part 3
Part 4
Part 5


Job Duties and Tasks for: "Loan Counselor"

1) Arrange for maintenance or liquidation of delinquent properties.

2) Authorize or sign mail collection letters.


3) Open accounts for clients and disburse funds from clients' accounts to creditors.

4) Check loan agreements to ensure that they are complete and accurate, according to policies.

5) Refer loans to loan committees for approval.


6) Approve loans within specified limits.

7) Submit applications to credit analysts for verification and recommendation.

8) Analyze applicants' financial status, credit, and property evaluations to determine feasibility of granting loans.

9) Interview applicants and request specified information for loan applications.

10) Establish payment priorities according to credit terms and interest rates to reduce clients' overall costs.

11) Contact applicants or creditors to resolve questions about applications or to assist with completion of paperwork.

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12) Maintain current knowledge of credit regulations.

13) Calculate amount of debt and funds available to plan methods of payoff and to estimate time for debt liquidation.

14) Analyze potential loan markets to find opportunities to promote loans and financial services.


15) Review billing for accuracy.

16) Supervise loan personnel.

17) Maintain and review account records, updating and recategorizing them according to status changes.

18) Assist in selection of financial award candidates using electronic databases to certify loan eligibility.

19) Confer with underwriters to resolve mortgage application problems.

20) Petition courts to transfer titles and deeds of collateral to banks.

21) Review accounts to determine write-offs for collection agencies.

22) Inform individuals and groups about the financial assistance available to college or university students.

23) Match students' needs and eligibility with available financial aid programs to provide informed recommendations.

24) Contact creditors to explain clients' financial situations and to arrange for payment adjustments so that payments are feasible for clients and agreeable to creditors.

25) Contact borrowers with delinquent accounts to obtain payment in full or to negotiate repayment plans.

26) Compare data on student aid applications with eligibility requirements of assistance programs.

27) Counsel clients on personal and family financial problems, such as excessive spending or borrowing of funds.

28) Locate debtors using post office directories, utility services account listings, or mailing lists.

Job Description for "Loan Counselor" continued here...

Part 1
Duties / Tasks
Part 2
Part 3
Part 4
Part 5

"Loan Counselor"   Holland / RIASEC Career Code:  NA        SOC:  13-2071.01


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