Loan officers evaluate applicants' financial backgrounds. They decide whether applicants will receive loans.

Loan officers interview loan applicants and review their applications to make sure they are complete.They analyze the applicants' financial status and determine the value of the property that is offered to secure the loan. They also check the value of the item being purchased, such as a car or house.

Officers send applications to credit analysts and read the reports they receive. They may contact applicants and ask them additional questions based on concerns raised by the credit analysts. Officers may re-calculate the loan payment schedule based on new information from applicants. They may also talk to underwriters about some loans.

Once loan officers are satisfied they have enough information, they submit the loan to a loan committee for approval. Based on the committee's recommendation, loan officers approve or deny the loan request. They may also approve a smaller loan than the applicant asked for. Officers fill out the final paperwork with applicants. They explain the completed loan papers, payment schedule, and terms to the borrowers.

Many loan officers examine the market for the possibility of new loan business. They make sales calls to potential borrowers. Some negotiate sales of groups of loans to investors. They often help advertise the services of their bank.

Loan officers often specialize in certain types of loans, such as:

• Agricultural
• Commercial
• Installment
• Real estate

Loan officers often supervise clerks in the preparation of loan documents.