Will AI replace Loan Interviewers and Clerks?

AI can do 93% of the work Loan Interviewers and Clerks do at least twice as fast. People already use it for 2 of their 18 tasks, while 13 more are ready but barely used so far. 3 still need a person.

AI is already doing this2 · 19% of time

People already use AI for these tasks in real work, based on Anthropic's analysis of how Claude is used.

  • Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts.Mostly automated10% of time
  • Interview loan applicants to obtain personal and financial data and to assist in completing applications.Mostly automated9% of time

AI could do this next13 · 74% of time

AI can speed these up by at least half, but real use has not caught up yet. These are next in line.

  • Verify and examine information and accuracy of loan application and closing documents.14% of time
  • Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers.9% of time
  • Record applications for loan and credit, loan information, and disbursements of funds, using computers.8% of time
  • Answer questions and advise customers regarding loans and transactions.6% of time
  • Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications.5% of time
  • Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators.5% of time
  • Contact credit bureaus, employers, and other sources to check applicants' credit and personal references.5% of time
  • File and maintain loan records.5% of time
  • Schedule and conduct closings of mortgage transactions.4% of time
  • Submit loan applications with recommendation for underwriting approval.4% of time
  • Review customer accounts to determine whether payments are made on time and that other loan terms are being followed.4% of time
  • Present loan and repayment schedules to customers.3% of time
  • Accept payment on accounts.1% of time

Still needs a person3 · 6% of time

No real AI use, no proven AI speedup and no robot that can do it yet. This is the part of the job to build on.

  • Check value of customer collateral to be held as loan security.3% of time
  • Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property.3% of time
  • Establish credit limits and grant extensions of credit on overdue accounts.1% of time

Your week is not the average

Describe what you actually do and get a personal report: your own tasks, what AI can already do, what stays yours and a 90 day plan.

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What this means

AI can already do almost all of this work at least twice as fast. Real use is still behind at 19 out of 100, so the change here is only getting started. Expect the role to shift toward deciding what to do, checking AI's work and owning the result.

What to do next

  • Do the 2 tasks AI is already handling with AI yourself. Your peers already are, and it is quickly becoming the baseline.
  • Get ahead on the 13 tasks AI could do next. These move as tools improve, so learning them early pays off.
  • Build on the 3 tasks that stay human. This is where your judgment, skill and relationships matter most.
Credit Authorizers, Checkers, and Clerks92%Correspondence Clerks97%Customer Service Representatives97%Eligibility Interviewers, Government Programs97%Court, Municipal, and License Clerks88%Brokerage Clerks87%

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