Loan Interviewers and Clerks
Also called: Loan Analyst, Loan Assistant, Loan Processor, Mortgage Loan ProcessorInterview loan applicants to elicit information; investigate applicants' backgrounds and verify references; prepare loan request papers; and forward findings, reports, and documents to appraisal department. Review loan papers to ensure completeness, and complete transactions between loan establishment, borrowers, and sellers upon approval of loan.
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What the data says: AI could halve the time on 15 of its 18 tasks, and jobs are projected to shrink 2.4% by 2035. In the most exposed occupations, the squeeze shows up first among early-career workers. How to think about this →
About this projection
BLS builds AI into its projections where the research supports it: “BLS generally applies adjustments based on this research conservatively, where there is convincing evidence for a change.”
It also notes a limit: “BLS projection methods are not designed to capture extremely rapid technological change.”
On its AI exposure groups, BLS says exposure “does not imply job loss.”
Recent conditions
- In 2024, 3.7% of people in this work were unemployed, against 3.8% across all occupations Census ACS 2024
- From Sep 2025 to Aug 2026, 4.3 hires for every 10 job openings in finance and insurance, which employs about 86% of people in this work, against 7.3 across all industries BLS JOLTS
One box per opening, filled for each hire; hires beyond the openings are added in a lighter shade. Higher can mean openings get filled, or that people leave often; lower, that jobs go unfilled, or hiring is slow.4.3 this industry7.3 all industries
Median pay by state BLS OEWS May 2025, state estimates
Tap a state for its figures.
Median pay in every state
| State | Median | Middle half earn | Jobs |
|---|---|---|---|
| Alabama | $40,300 | $34,830 to $49,360 | 2,960 |
| Alaska | $51,470 | $48,600 to $59,170 | 330 |
| Arizona | $50,120 | $44,980 to $62,960 | 4,700 |
| Arkansas | $45,140 | $38,330 to $50,120 | 1,970 |
| California | $57,300 | $47,240 to $63,090 | 14,680 |
| Colorado | $56,760 | $47,520 to $63,110 | 2,500 |
| Connecticut | $58,980 | $50,000 to $62,660 | 970 |
| Delaware | $57,760 | $47,040 to $63,340 | 950 |
| District of Columbia | $77,080 | $65,060 to $80,350 | 140 |
| Florida | $50,510 | $46,210 to $61,410 | 10,690 |
| Georgia | $48,310 | $38,890 to $57,640 | 4,020 |
| Hawaii | $55,410 | $48,230 to $63,850 | 450 |
| Idaho | $48,090 | $44,270 to $58,670 | 1,240 |
| Illinois | $50,000 | $45,130 to $61,190 | 6,850 |
| Indiana | $47,310 | $41,030 to $51,300 | 3,350 |
| Iowa | $50,080 | $46,350 to $59,880 | 2,380 |
| Kansas | $47,640 | $44,460 to $59,780 | 2,770 |
| Kentucky | $47,910 | $42,970 to $60,110 | 3,690 |
| Louisiana | $46,700 | $36,980 to $49,030 | 2,010 |
| Maine | $50,020 | $46,390 to $57,360 | 650 |
| Maryland | $59,430 | $49,570 to $66,550 | 1,590 |
| Massachusetts | $58,940 | $49,920 to $62,490 | 2,080 |
| Michigan | $51,500 | $47,560 to $61,810 | 7,930 |
| Minnesota | $51,760 | $47,580 to $61,200 | 2,850 |
| Mississippi | $39,120 | $36,430 to $47,810 | 1,770 |
| Missouri | $47,170 | $38,860 to $57,890 | 5,080 |
| Montana | $48,460 | $46,020 to $56,110 | 640 |
| Nebraska | $48,970 | $46,870 to $58,640 | 1,010 |
| Nevada | $57,070 | $47,540 to $64,720 | 1,520 |
| New Hampshire | $56,040 | $50,090 to $61,100 | 520 |
| New Jersey | $58,760 | $48,620 to $63,040 | 3,620 |
| New Mexico | $46,100 | $37,110 to $59,760 | 880 |
| New York | $58,120 | $48,570 to $64,640 | 4,780 |
| North Carolina | $57,780 | $47,740 to $61,820 | 4,800 |
| North Dakota | $51,290 | $47,130 to $59,870 | 980 |
| Ohio | $49,150 | $45,660 to $59,050 | 5,800 |
| Oklahoma | $47,210 | $38,440 to $57,740 | 3,300 |
| Oregon | $57,650 | $48,490 to $61,710 | 1,920 |
| Pennsylvania | $47,350 | $40,410 to $55,810 | 4,330 |
| Puerto Rico | $35,940 | $29,230 to $39,230 | 810 |
| Rhode Island | $51,560 | $45,140 to $61,280 | 650 |
| South Carolina | $47,500 | $38,350 to $57,090 | 2,820 |
| South Dakota | $47,000 | $44,810 to $49,380 | 1,710 |
| Tennessee | $45,230 | $38,040 to $51,790 | 3,990 |
| Texas | $49,980 | $45,650 to $59,920 | 17,090 |
| Utah | $48,110 | $43,150 to $52,670 | 2,820 |
| Vermont | $50,060 | $46,230 to $58,280 | 290 |
| Virginia | $50,140 | $45,920 to $60,320 | 3,990 |
| Washington | $58,740 | $48,720 to $64,640 | 3,290 |
| West Virginia | $42,490 | $36,720 to $47,380 | 840 |
| Wisconsin | $48,930 | $46,190 to $57,850 | 4,270 |
| Wyoming | $47,950 | $45,760 to $56,670 | 300 |
Nationally: $50,020. Shades run from the lowest state median to the highest; a territory below that range takes the lightest. How to read this
How AI touches the work
What AI could speed up, task by task, and where people already use it.
AI could halve the time on 15 of its 18 tasks
| AI rating | Its main tasks | Share of Claude conversations May 2026 |
|---|---|---|
| AI + software | Answer questions and advise customers regarding loans and transactions. | Not published |
| AI + software | Interview loan applicants to obtain personal and financial data and to assist in completing applications. | Not published |
| AI + software | Verify and examine information and accuracy of loan application and closing documents. | Not published |
| AI alone | Submit loan applications with recommendation for underwriting approval. | Not published |
| AI + software | Record applications for loan and credit, loan information, and disbursements of funds, using computers. | Not published |
| Not much | Check value of customer collateral to be held as loan security. | Not published |
See all 18 tasks
| AI + software | Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications. | Not published |
| AI + software | Present loan and repayment schedules to customers. | Not published |
| Not much | Establish credit limits and grant extensions of credit on overdue accounts. | Not published |
| AI + software | Review customer accounts to determine whether payments are made on time and that other loan terms are being followed. | Not published |
| AI + software | Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts. | Not published |
| AI + software | Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators. | under 0.01% |
| AI alone | Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers. | under 0.01% |
| Not much | Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property. | Not published |
| AI + software | Contact credit bureaus, employers, and other sources to check applicants' credit and personal references. | Not published |
| AI + software | Schedule and conduct closings of mortgage transactions. | Not published |
| AI + software | File and maintain loan records. | Not published |
| AI + software | Accept payment on accounts. | Not published |
Ordered by how important O*NET's respondents rate each task (1 to 5) times the share who say it is part of their job. The ordering is ours. 2 of the 18 have a published share of Claude conversations; “not published” means too few conversations for Anthropic to publish a figure.
Where people already use AI
The tasks above say what AI could speed up. This shows what people are using it for. Its 18 tasks fall under 15 work activities that many occupations share, and Microsoft counted how often each one came up in 200,000 conversations with its Copilot assistant in 2024.
- #11 Provide information to guests, clients, or customers
- #30 Perform administrative or clerical activities
- #33 Compile records, documentation, or other data
- and 2 more, in the table below
| Work activity | This occupation's tasks under it | People asked AI for help in 10,000 conversations |
AI did it for them in 10,000 conversations |
|---|---|---|---|
| Provide information to guests, clients, or customers | |||
| Evaluate the quality or accuracy of data | |||
| Prepare documentation for contracts, applications, or permits | |||
| Maintain sales or financial records | |||
| Perform administrative or clerical activities | |||
| Compile records, documentation, or other data | |||
| Determine values or prices of goods or services | |||
| Calculate financial data |
Show all 15 activities
| Execute financial transactions | |||
| Interview people to obtain information | |||
| Collect data about consumer needs or opinions | |||
| Schedule appointments | |||
| Monitor financial data or activities | |||
| Negotiate contracts or agreements | |||
| Collect fares or payments |
How people in this work use Claude
What people in this work made with Claude % of conversations
- A document or report33%
- Math or a calculation20%
- Data or a spreadsheet18%
- An email or message11%
- An analysis or summary5%
How they worked with Claude
42% of these conversations were about work. Anthropic Economic Index, May 2026.
How to read this
Work activities come from O*NET, which links every task to the broader activities it involves. Microsoft's figures are for the activity across everyone who used Copilot, not for loan interviewers and clerks specifically. Copilot is a general chat assistant; dedicated coding tools are not included, so programming help is under-counted here. Activities are listed by how many of this occupation's tasks fall under them.
The task ratings say whether AI could halve the time a task takes: on its own (“AI alone”), or with software built on it (“AI + software”). They were made by people in 2023 (Eloundou et al.). Claude's share is the task's share of all Claude.ai conversations in May 2026; Anthropic doesn't publish a task with too few conversations. None of these add up to the BLS exposure group, which combines five research measures.
More in the Guide: task ratings · task order · work activities · Copilot figures · Claude
High exposure doesn't mean fewer jobs
BLS projects most occupations in its two most exposed groups to grow: 141 of 206 rated Very high and 165 of 206 rated High. Each dot is one of the 831 occupations BLS rates.
Career moves into and out of this occupation
From moves between occupations found in online resumes, 2002–2016. Career changes only: a first job after school isn't a move.
Where people moved next
of 76,341 moves out
- 1 Loan Officers Very high +1.1% 10%
- 2 Customer Service Representatives Very high -5.3% 6%
- 3 Managers, All Other (2010 group) an older group BLS has since split; no exposure group today 4%
- 4 Secretaries and Administrative Assistants, Except Legal, Medical, and Executive Very high -6.0% 4%
- 5 Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products Very high -0.9% 4%
Where people moved in from
of 59,880 moves in
- 1 Customer Service Representatives Very high -5.3% 10%
- 2 Loan Officers Very high +1.1% 8%
- 3 Secretaries and Administrative Assistants, Except Legal, Medical, and Executive Very high -6.0% 4%
- 4 Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products Very high -0.9% 3%
- 5 Tellers High -13.2% 3%
Resumes over-represent younger, white-collar job-seekers and moves into management. Schubert, Stansbury and Taska (resume data).
Education and training for the occupation
O*NET survey of workers in this occupation
- 43% high school
- 12% postsecondary certificate
- 7% associate's
- 38% bachelor's
O*NET 31.0 survey of workers in this occupation · 20 people answered.
Census survey (American Community Survey)
- 2% less than high school
- 28% high school
- 27% some college
- 14% associate's
- 24% bachelor's
- 5% master's
Census ACS 2024, all workers in this occupation · 1,019 people surveyed.
Why the two can differ
O*NET asks about 20 people in each occupation, which makes its shares uncertain, but it reports the exact occupation and counts certificates. The Census survey reaches thousands, but it groups some occupations together and counts degrees only. More in the Guide
Median pay by highest degree full-time, year-round · Census ACS 2024, all workers in this occupation
1 program: Banking and Financial Support Services.
Jobs that require a credential BLS Occupational Requirements Survey 2023
14.6% this occupation
45.3% all occupations
| By kind | This occupation | All occupations |
|---|---|---|
| a license | 5.3% | 19.1% |
| a certification | 2.8% | 5.8% |
| an educational certificate | <0.5% | 2.8% |
Share of jobs whose employer requires it. BLS doesn't say which credential. How to read this
Look up certifications, training and licenses U.S. Department of Labor
- Certification Finder ↗ certifications CareerOneStop lists for this occupation
- Training Finder ↗ schools and programs, nationwide; narrow the place there
- License Finder ↗ licenses by state
- Apprenticeships: DOL's list of apprenticeable occupations doesn't include this one.
These open in a new tab and send only the occupation's public code. More in the Guide
BLS AI exposure categories (Aug 2026) · BLS Employment Projections 2025–35 · O*NET 31.0 · Task ratings: Eloundou et al., Science (2024) · Microsoft "Working with AI" v1.1 · Anthropic Economic Index (2026-06-26) · Schubert, Stansbury and Taska · NCES CIP–SOC · Census ACS 2024 · BLS JOLTS · Brynjolfsson, Chandar and Chen, Stanford (Aug 2026)
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