Loan Officers

98%

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

It's highly likely this occupation will be replaced by robots/AI. However, workers may be able to take some comfort in the results from our poll, which shows a 56% chance of automation within the next 2 decades.

Automation Risk Level

You are doomed

or 98% probability of automation

Projected Growth

8%

by 2024

People Employed

308,370

as of 2019

Median Annual Wage

$63,270

or $30.42 hourly

Compare
Most likely
Least likely

How this compares with other jobs: 673 out of 707

Cast Your Vote




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

People Employed (US)

Median Annual Wage (US)

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

If you're thinking of starting a new career, or looking to change jobs, we've created a handy job search tool which might just help you land that perfect new role.

Search jobs in your local area

Comments

Paul George (Could go either way) says
Face to face interaction will always be wanted unless we are looking 100 years into the future where every ones perception of social interaction has been skewed due to social media.
Feb 06, 2020 at 03:17 PM
Max (No chance) says
Not possible. No way for a robot to perform every aspect of the job. Evaluating the viability of a business plan and the likelihood of the applicants to deliver takes a human like myself.
Jan 19, 2020 at 12:51 AM
Al C. (Could go either way) says
There is no way for a Mortgage Loan Officer to go away anytime soon. A Mortgage is to complicated to not have an actual person walk some one through the process from start to finish. Automation is great to bring in customers but not to complete the transaction together.
Dec 26, 2019 at 09:18 PM
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

Leave a reply about this occupation

Your email address will not be published.
Comment
 
Name
 
Email (optional)
Copied