A loan officer is a professional who evaluates, authorizes, or recommends approval of loan applications. Their primary duties include meeting with applicants to obtain information for loan applications and to answer questions about the process, analyzing applicants’ financial status, credit, and property evaluations to determine the feasibility of granting loans, and explaining to customers the different types of loans and the terms of those loans. They also work with clients to assist them with completing the application process, often providing advice on improving their financial standing to qualify for loans.
