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"Loan Counselors"
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 Counselors"

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

2) Approve loans within specified limits.


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

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

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


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

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

8) Maintain current knowledge of credit regulations.

9) Refer loans to loan committees for approval.

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

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

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

13) Arrange for maintenance and liquidation of delinquent properties.

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


15) Authorize and sign mail collection letters.

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

17) Confer with underwriters to resolve mortgage application problems.

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

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

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

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

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

23) Locate debtors using post office directories, utility services account listings, and mailing lists.

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

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

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

27) Review billing for accuracy.

28) Supervise loan personnel.

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

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

"Loan Counselors"   Holland / RIASEC Career Code:  E-S-C        SOC:  13-2071.00


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