Will “Disbursement Clerk” be Replaced By Robots? 🤔

92% Chance of Automation

“Disbursement Clerk” will probably be replaced by robots.

This job is ranked #563 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.

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Job Description

Interview 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.

Job Details

The SOC (Standard Occupational Classification) code is 43-4131.00
The Mean Annual Wage in the U.S. is $ 40,300.00
The Mean Hourly Wage is $ 19.00
Currently, there are 224,340 people on this job

☝️ Information based on the reference occupation “Loan Interviewers and Clerks”.

Also Known As…

Tasks for “Disbursement Clerk”

Present loan and repayment schedules to customers.
Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.
Establish credit limits and grant extensions of credit on overdue accounts.
Record applications for loan and credit, loan information, and disbursements of funds, using computers.
Interview loan applicants to obtain personal and financial data and to assist in completing applications.
Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.
Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.
Verify and examine information and accuracy of loan application and closing documents.
File and maintain loan records.
Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.
Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.
Accept payment on accounts.
Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.
Check value of customer collateral to be held as loan security.
Answer questions and advise customers regarding loans and transactions.
Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.
Submit loan applications with recommendation for underwriting approval.
Schedule and conduct closings of mortgage transactions.

Related Technology & Tools

Personal computers
Copy machines
Document scanners
Laser facsimile machines
Laptop computers
Printing calculators
Computer inkjet printers

Automated underwriting software
Desktop Underwriter
Microsoft PowerPoint
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Microsoft Word
Web browser software
Credit reporting software
Rockport Integrated Excel Underwriting
Microsoft Office
Software AG Underwriting Solution
Loan tracking software
Automated financial software
Desktop publishing software
Microsoft Excel
Microsoft Outlook