Mtg Loan Officer Asst Salary in Illinois

Loan Officer - Average Salary $69,992

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Consumer Loan Officer III - Average Salary $62,902

Develops and services consumer loans. Interviews loan applicants to determine financing needs and to offer the appropriate loan products and repayment arrangements. Evaluates loan applications and applicant creditworthiness. Once a loan is approved and negotiated, monitors loan payments, and provides customer service to ensure the borrower's questions are answered and needs are met, and that the loan is repaid appropriately. Maintains accurate and thorough records, and follows all applicable organizational, state, and federal policies and regulations. Requires a high school diploma. Typically reports to a manager or head of a unit/department. Works independently within established procedures associated with the specific job function. Has gained proficiency in multiple competencies relevant to the job. Typically requires 3-5 years of related experience.

Consumer Loan Officer II - Average Salary $52,565

Develops and services consumer loans. Interviews loan applicants to determine financing needs and to offer the appropriate loan products and repayment arrangements. Evaluates loan applications and applicant creditworthiness. Once a loan is approved and negotiated, monitors loan payments, and provides customer service to ensure the borrower's questions are answered and needs are met, and that the loan is repaid appropriately. Maintains accurate and thorough records, and follows all applicable organizational, state, and federal policies and regulations. Requires a high school diploma. Typically reports to a manager or head of a unit/department. Works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. Typically requires 1-3 years of related experience.

Consumer Loan Officer I - Average Salary $47,266

Develops and services consumer loans. Interviews loan applicants to determine financing needs and to offer the appropriate loan products and repayment arrangements. Evaluates loan applications and applicant creditworthiness. Once a loan is approved and negotiated, monitors loan payments, and provides customer service to ensure the borrower's questions are answered and needs are met, and that the loan is repaid appropriately. Maintains accurate and thorough records, and follows all applicable organizational, state, and federal policies and regulations. Requires a high school diploma. Typically reports to a manager or head of a unit/department. Works under the close direction of senior personnel in the functional area. Possesses a moderate understanding of general aspects of the job. May require 0-1 year of general work experience.

Construction Loan Officer - Average Salary $99,532

Sources and structures construction loans. Performs a due diligence review of potential borrowers, including risk and financial analysis. Analyzes applicants' credit and financial status and obtains property appraisals to determine the feasibility of granting loans. Develops relationships with builders and developers to obtain referrals and future lending opportunities. Structures construction loan terms and conditions according to policies. Approves loans within authorized limits or refers them to a loan committee for approval. May disburse loan proceeds at designated project mile. Requires a bachelor's degree. Typically reports to a manager. Occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. Typically requires 2 -4 years of related experience.