How to Become a Commercial Loan Clerk
Step 1: Understand the job description and responsibilities of a Commercial Loan Clerk
What does a Commercial Loan Clerk do?
A Commercial Loan Clerk processes loan payments and applies funds to customer accounts. Calculates and processes payoffs, and releases titles and insurance interest. Being a Commercial Loan Clerk calculates and prepares refunds for customers that submit overpayments. Responds to customer inquiries and requests for net payoff quotes. Additionally, Commercial Loan Clerk may require an associate degree or equivalent. Typically reports to a supervisor or manager. The Commercial Loan Clerk works independently within established procedures associated with the specific job function. Has gained proficiency in multiple competencies relevant to the job. To be a Commercial Loan Clerk typically requires 3-5 years of related experience.
The clerk, for example, handles the paperwork generated by the contract as well as the research process.
Commercial clerks maintain all records for loans, notices, reports and other financial data.
Besides clerical issues, clerks are also responsible for auditing, preparing documents and printing out forms.
Based on our compensation data, the estimated salary potential for Commercial Loan Clerk will increase 16 % over 5 years.
Independent Bank currently has a Commercial Loan Clerk opportunity available.
Step 2: Learn best tips to become a Commercial Loan Clerk
Best tips for those who want to become a Commercial Loan Clerk
Here are some tips to become a Commercial Loan Clerk.
Step 3: View best colleges and universities for Commercial Loan Clerk
Best colleges and universities for Commercial Loan Clerk
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be a Commercial Loan Clerk
Is being a Commercial Loan Clerk Worth it?
The clerk, for example, handles the paperwork generated by the contract as well as the research process.
Commercial clerks maintain all records for loans, notices, reports and other financial data.
While education is not always a priority, some work experience is preferred since offices are very busy, and clerks are expected to work quickly.
Commercial loan officers work in credit unions, commercial banks, mortgage companies, and financial institutions of all types.
Commercial loan officers may be responsible for supervising tellers and other loan officers while reporting to managers who will oversee and double-check loan paperwork.
Step 5: Prepare relevant skills for being a Commercial Loan Clerk
What skills do you need to be a Commercial Loan Clerk?
Supporting level roles often require a broad range of skills to ensure jobs can be executed accurately and efficiently. Some of the more relevant day-to-day skills for this role include: Inquiry Research/Response, Loan Servicing, Calculate Adjustments. In this role, you should command of the following: Banking Software, Loan Software. Success in this function is highly dependant upon these skills, as well as others specific to each individual company.
While education is not always a priority, some work experience is preferred since offices are very busy, and clerks are expected to work quickly.
Employers also tend to promote clerks who have excellent customer service skills, which aren’t a stretch considering that most of what they do is for the client or requested on behalf of the client.
The Banking and Commercial Loan Processing will be familiar with the practices and procedures previously implemented, in addition to the pre-existing guidelines necessary to perform these duties to the best of their ability.
The Banking and Commercial Loan Processing Clerk will be able to accurately calculate loan and interest payments for commercial banking and business groups.
This individual is accountable for receiving all of the required information and documentation, in order to process commercial banking and business loans.
Step 6: View average salary for Commercial Loan Clerk
How much does a Commercial Loan Clerk make?
The average salary range for a Commercial Loan Clerk is from $47,902 to $65,099. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for Commercial Loan Clerk jobs
Step 7: Find relevant Commercial Loan Clerk jobs, and apply.
Looking for Commercial Loan Clerk jobs?
Here are some Commercial Loan Clerk jobs in the United States.