Loan Officers

98%
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Will "Loan Officers" be replaced by AI & Robots?

It's highly likely this occupation will be replaced by robots/AI. However, our poll is less clear, and shows a 64% chance of automation within the next couple of decades.

Automation Risk Level

You are doomed

or 98% probability of automation

Projected Growth

8%

by 2024

Median Annual Wage

$63,650

or $30.60 hourly

People Employed

305,700

as of 2016

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How this compares with other jobs: 673 out of 706

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How likely do you think this occupation will be taken over by robots/AI within the next 20 years?

Job description

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

SOC Code: 13-2072

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Comments

Joe (No chance) says
There is a large social aspect associated with the job. In addition, there are a lot of legal and other various parts of the job that are hard to automate.
Jul 10, 2019 at 09:02 PM
Matt (No chance) says
There is no entry for a mortgage loan officer.

Consumer loan officers like credit card or unsecured debt peddlers might be automated. In a lot of regards they already are.

But if you're going to say that mortgage lending is going away just look at quicken mortgage. Their model is the future.
Apr 15, 2019 at 12:21 PM

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