Consumer Loan Officer Salary in Chicago, Illinois

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Average Salary for Consumer Loan Officer in Chicago, Illinois

The average salary of a(n) Consumer Loan Officer in Chicago, Illinois is $64,281.

The average hourly rate of a(n) Consumer Loan Officer in Chicago, Illinois is $30.90.

The average bonus of a(n) Consumer Loan Officer in Chicago, Illinois is $2,141.00.

Job Description:

Interviews applicants and studies, evaluates, and authorizes or recommends approval of customer applications for consumer loans, including vehicle loans, home improvement, home equity, personal, secured and unsecured, student loans, credit cards, etc. Interviews applicant and requests specified information for consumer loan application. Analyzes applicant financial status, credit, and property evaluation to determine feasibility of granting loan or may submit application to credit analyst for verification and recommendation. Corresponds with or interviews applicant or creditors to resolve questions regarding application information. Approves consumer loan within specified limits or refers loan to loan committee for approval. Lesser experienced loan officers operate with moderate credit authority where more experienced senior loan officers operate with substantial credit authority involving large amounts of money or important customers. Ensures consumer loan agreements are complete and accurate according to policy. May confer with underwriter to aid in resolving application problems. May analyze potential loan markets to develop prospects for loans. May solicit and negotiate conventional or government secured loans on commission basis. May supervise loan personnel. Less

Interviews applicants and studies, evaluates, and authorizes or recommends approval of customer applications for consumer loans, including vehicle loans, home improvement, home equity, personal, secured and unsecured, student loans, credit cards, etc. Interviews applicant and requests specified information for consumer... More

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