# Loan Interviewers and Clerks

US SOC code 43-4131. Markdown version of https://futurehistory.earth/timeline/43-4131

Also called: Loan clerk, Mortgage loan processor, Loan processor, Loan interviewer, Mortgage clerk.

## In brief

In May 2025, [BLS](https://www.bls.gov/oes/special-requests/oesm25nat.zip) counted **164,790** US loan interviewers and clerks, with median pay of **$50,020** a year. Of the BLS counts since 2021, the highest was **242,630**, in May 2022. The earliest figure here is [an estimate](https://www.fdic.gov/bank/analytical/banking/2001mar/article1.pdf) of **15,000** from 1890, not measured the same way as today's count. The last full technology era for loan interviewers and clerks: Enterprise LOS platforms, 2004 to 2018.

## What the sources say

### Official outlook

BLS projects employment to decline 2.4% from 2025 to 2035. Source: [BLS Employment Projections 2025-35](https://data.bls.gov/projections/nationalMatrix?queryParams=43-4131&ioType=o).

### AI exposure studies

- **50%** of this job's tasks are exposed to large language models. Not a forecast of job losses. [Eloundou and others, 2023](https://github.com/openai/GPTs-are-GPTs/blob/main/data/occ_level.csv)
- **0.92** estimated probability that the whole occupation could be computerised, over an unspecified number of years. Not a forecast of job losses. [Frey and Osborne, 2013](https://oms-www.files.svdcdn.com/production/downloads/academic/The_Future_of_Employment.pdf)

### Since the 2013 prediction

In 2013, Frey and Osborne put this job's probability of computerisation at 0.92. BLS counted **213,270** of these jobs in May 2013 and **164,790** in May 2025. The count moved sharply in one step, May 2020 to May 2021, when BLS changed how it estimates these counts, so no change is derived here.

Data as of BLS OEWS May 2025; BLS Employment Projections 2025-35. BLS publishes these counts as yearly survey snapshots and cautions against reading them as a precise trend. In May 2021 BLS changed how it estimates these counts (a model-based method using three years of survey data) and moved fully to the 2018 occupation codes, so part of a change across 2021 can come from the method rather than the work.

## Loan Interviewers and Clerks employment and pay by year

- On record since: 1870
- Latest US employment: 164,790 (May 2025). Source: BLS OEWS May 2025 [5]
- Latest US median pay: $50,020 (May 2025). Source: BLS OEWS May 2025 [8]
- Outlook: -2.4% by 2035. Source: BLS Employment Projections 2025-35 [23]

### All 29 years of cited US data

| Year | US employment | Annual pay (median unless marked) | Source |
| --- | --- | --- | --- |
| 1890 | 15,000 (estimate) | n/a | Est., FDIC Banking Review [1] |
| 1950 | 95,000 (estimate) | n/a | Est., Federal Home Loan Bank Board [2] |
| 1956 | n/a | $3,200 (estimate) | Est., University of Missouri Libraries [6] |
| 1980 | 155,000 (estimate) | n/a | Est., FDIC Historical Statistics on Banking [3] |
| 1995 | n/a | $22,000 (estimate) | Est., BLS Occupational Outlook Handbook [7] |
| 2000 | 215,000 (estimate) | n/a | Est., O\*NET OnLine [4] |
| 2003 | 179,080 | $28,330 | BLS OEWS May 2003 [5] |
| 2004 | 209,320 | $29,000 | BLS OEWS May 2004 [5] |
| 2005 | 231,700 | $30,200 | BLS OEWS May 2005 [5] |
| 2006 | 248,050 | $30,970 | BLS OEWS May 2006 [5] |
| 2007 | 239,810 | $31,680 | BLS OEWS May 2007 [5] |
| 2008 | 212,340 | $32,470 | BLS OEWS May 2008 [5] |
| 2009 | 195,310 | $33,350 | BLS OEWS May 2009 [5] |
| 2010 | 181,600 | $33,970 | BLS OEWS May 2010 [5] |
| 2011 | 186,240 | $34,820 | BLS OEWS May 2011 [5] |
| 2012 | 192,010 | $35,310 | BLS OEWS May 2012 [5] |
| 2013 | 213,270 | $36,050 | BLS OEWS May 2013 [5] |
| 2014 | 212,440 | $36,880 | BLS OEWS May 2014 [5] |
| 2015 | 216,380 | $37,710 | BLS OEWS May 2015 [5] |
| 2016 | 224,340 | $38,630 | BLS OEWS May 2016 [5] |
| 2017 | 227,430 | $39,060 | BLS OEWS May 2017 [5] |
| 2018 | 222,620 | $39,890 | BLS OEWS May 2018 [5] |
| 2019 | 208,530 | $40,640 | BLS OEWS May 2019 [5] |
| 2020 | 204,100 | $41,370 | BLS OEWS May 2020 [5] |
| 2021 | 238,610 | $45,940 | BLS OEWS May 2021 [5] |
| 2022 | 242,630 | $46,490 | BLS OEWS May 2022 [5] |
| 2023 | 203,940 | $47,380 | BLS OEWS May 2023 [5] |
| 2024 | 173,100 | $48,950 | BLS OEWS May 2024 [5] |
| 2025 | 164,790 | $50,020 | BLS OEWS May 2025 [5] |

## Sources (88)

### Employment series

1. [FDIC Banking Review -- "The Building and Loan Movement" (history of building-and-loan associations; 5,000 associations by 1893)](https://www.fdic.gov/bank/analytical/banking/2001mar/article1.pdf), Federal Deposit Insurance Corporation
2. [Federal Home Loan Bank Board -- Annual Report 1950 (savings-and-loan industry employment; via FRASER / St. Louis Fed)](https://fraser.stlouisfed.org/title/annual-report-federal-home-loan-bank-board-1256), Federal Home Loan Bank Board / FRASER
3. [FDIC Historical Statistics on Banking -- Savings Institutions employment 1980 (staffing data from thrift industry reports)](https://www.fdic.gov/analysis/bank-data-statistics), Federal Deposit Insurance Corporation
4. [O\*NET OnLine -- 43-4131.00 Loan Interviewers and Clerks (occupation first tracked under 2000 SOC system)](https://www.onetonline.org/link/summary/43-4131.00), O\*NET / BLS
5. BLS OEWS, national cross-industry estimates (flat file), Bureau of Labor Statistics. Editions: [2003](https://www.bls.gov/oes/special-requests/oesm03nat.zip), [2004](https://www.bls.gov/oes/special-requests/oesm04nat.zip), [2005](https://www.bls.gov/oes/special-requests/oesm05nat.zip), [2006](https://www.bls.gov/oes/special-requests/oesm06nat.zip), [2007](https://www.bls.gov/oes/special-requests/oesm07nat.zip), [2008](https://www.bls.gov/oes/special-requests/oesm08nat.zip), [2009](https://www.bls.gov/oes/special-requests/oesm09nat.zip), [2010](https://www.bls.gov/oes/special-requests/oesm10nat.zip), [2011](https://www.bls.gov/oes/special-requests/oesm11nat.zip), [2012](https://www.bls.gov/oes/special-requests/oesm12nat.zip), [2013](https://www.bls.gov/oes/special-requests/oesm13nat.zip), [2014](https://www.bls.gov/oes/special-requests/oesm14nat.zip), [2015](https://www.bls.gov/oes/special-requests/oesm15nat.zip), [2016](https://www.bls.gov/oes/special-requests/oesm16nat.zip), [2017](https://www.bls.gov/oes/special-requests/oesm17nat.zip), [2018](https://www.bls.gov/oes/special-requests/oesm18nat.zip), [2019](https://www.bls.gov/oes/special-requests/oesm19nat.zip), [2020](https://www.bls.gov/oes/special-requests/oesm20nat.zip), [2021](https://www.bls.gov/oes/special-requests/oesm21nat.zip), [2022](https://www.bls.gov/oes/special-requests/oesm22nat.zip), [2023](https://www.bls.gov/oes/special-requests/oesm23nat.zip), [2024](https://www.bls.gov/oes/special-requests/oesm24nat.zip), [2025](https://www.bls.gov/oes/special-requests/oesm25nat.zip)

### Wage series

6. [University of Missouri Libraries — "Prices and Wages by Decade: 1950-1959" (derived from BLS Bulletin banking/finance clerical wage data)](https://libraryguides.missouri.edu/pricesandwages/1950-1959), University of Missouri Libraries
7. [BLS Occupational Outlook Handbook -- Financial Clerks historical editions (1996-1998; loan processor wage range $10-$12/hr in major markets)](https://www.bls.gov/ooh/office-and-administrative-support/financial-clerks.htm), Bureau of Labor Statistics
8. BLS OEWS, national cross-industry estimates (flat file), Bureau of Labor Statistics. Editions: [2003](https://www.bls.gov/oes/special-requests/oesm03nat.zip), [2004](https://www.bls.gov/oes/special-requests/oesm04nat.zip), [2005](https://www.bls.gov/oes/special-requests/oesm05nat.zip), [2006](https://www.bls.gov/oes/special-requests/oesm06nat.zip), [2007](https://www.bls.gov/oes/special-requests/oesm07nat.zip), [2008](https://www.bls.gov/oes/special-requests/oesm08nat.zip), [2009](https://www.bls.gov/oes/special-requests/oesm09nat.zip), [2010](https://www.bls.gov/oes/special-requests/oesm10nat.zip), [2011](https://www.bls.gov/oes/special-requests/oesm11nat.zip), [2012](https://www.bls.gov/oes/special-requests/oesm12nat.zip), [2013](https://www.bls.gov/oes/special-requests/oesm13nat.zip), [2014](https://www.bls.gov/oes/special-requests/oesm14nat.zip), [2015](https://www.bls.gov/oes/special-requests/oesm15nat.zip), [2016](https://www.bls.gov/oes/special-requests/oesm16nat.zip), [2017](https://www.bls.gov/oes/special-requests/oesm17nat.zip), [2018](https://www.bls.gov/oes/special-requests/oesm18nat.zip), [2019](https://www.bls.gov/oes/special-requests/oesm19nat.zip), [2020](https://www.bls.gov/oes/special-requests/oesm20nat.zip), [2021](https://www.bls.gov/oes/special-requests/oesm21nat.zip), [2022](https://www.bls.gov/oes/special-requests/oesm22nat.zip), [2023](https://www.bls.gov/oes/special-requests/oesm23nat.zip), [2024](https://www.bls.gov/oes/special-requests/oesm24nat.zip), [2025](https://www.bls.gov/oes/special-requests/oesm25nat.zip)

### Tool eras

9. [FDIC Banking Review -- "The Building and Loan Movement" (pre-FHA lending operations and clerical workflow)](https://www.fdic.gov/bank/analytical/banking/2001mar/article1.pdf), Federal Deposit Insurance Corporation
10. [HUD -- History of FHA (National Housing Act 1934 and standardized underwriting forms)](https://www.hud.gov/program_offices/housing/fhahistory), US Department of Housing and Urban Development
11. [Fannie Mae -- History (institutional history of Fannie Mae and its role in standardizing US mortgage lending)](https://www.fanniemae.com/about-us/who-we-are/history), Fannie Mae
12. [CFPB -- 12 CFR Part 1024 (Regulation X): Real Estate Settlement Procedures Act (RESPA 1974; HUD-1 settlement statement requirement)](https://www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1024/), Consumer Financial Protection Bureau
13. [Consumer Financial Protection Bureau -- History of TILA (Truth in Lending Act disclosure requirements)](https://www.consumerfinance.gov/rules-policy/regulations/1026/), Consumer Financial Protection Bureau
14. [Calyx Software -- About Calyx (founded 1991; "one of the most recognized names in loan origination technology")](https://www.calyxsoftware.com/about-calyx), Calyx Software
15. [Mortgage Bankers Association -- MBA Origination Estimates historical (1992-1993 refinance boom context)](https://www.mba.org/news-and-research/research-and-economics/single-family-research/mortgage-finance-forecast-archive), Mortgage Bankers Association
16. [Fannie Mae -- Desktop Underwriter history (DU launched 1994; first automated underwriting system in the US mortgage market)](https://singlefamily.fanniemae.com/originating-underwriting/mortgage-products/desktop-underwriter), Fannie Mae
17. [Freddie Mac -- Loan Product Advisor (formerly Loan Prospector, launched 1995; automated underwriting system)](https://sf.freddiemac.com/tools-learning/technology-tools/our-solutions/loan-product-advisor), Freddie Mac
18. [ICE Mortgage Technology -- Encompass (Ellie Mae founded 1999; Encompass became dominant LOS; acquired by ICE 2020)](https://mortgagetech.ice.com/products/encompass), ICE Mortgage Technology
19. [CFPB -- TRID: Know Before You Owe (TILA-RESPA Integrated Disclosure effective October 3, 2015)](https://www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/tila-respa-integrated-disclosures/), Consumer Financial Protection Bureau
20. [Areal.ai -- What Is Mortgage Automation? The 2026 Guide for Lending Operations Leaders (AI saves 1-3 hrs/loan, CD Balancer reduces 65 min to 4 min)](https://www.areal.ai/blog/what-is-mortgage-automation), Areal.ai
21. [BLS OOH -- Financial Clerks (2024-2034 projection: -5% for financial clerks group, "productivity-enhancing technology")](https://www.bls.gov/ooh/office-and-administrative-support/financial-clerks.htm), Bureau of Labor Statistics
22. [ABA Banking Journal -- AI in Mortgages: Reshaping the Lending Lifecycle (April 2026)](https://bankingjournal.aba.com/2026/04/ai-in-mortgages-reshaping-the-lending-lifecycle/), American Bankers Association

### Forecasts and exposure studies

23. [BLS Employment Projections 2025-35, National Employment Matrix: 43-4131 Loan interviewers and clerks (2025: 169.1 thousand; 2035: 165.0 thousand; -2.4%)](https://data.bls.gov/projections/nationalMatrix?queryParams=43-4131&ioType=o), Bureau of Labor Statistics
24. [Eloundou, Manning, Mishkin & Rock (2023), "GPTs are GPTs", occupation-level exposure data occ\_level.csv (O\*NET-SOC 43-4131.00, human-rated β 0.5)](https://github.com/openai/GPTs-are-GPTs/blob/main/data/occ_level.csv), OpenAI
25. [Frey & Osborne (2013), "The Future of Employment: How Susceptible Are Jobs to Computerisation?", Appendix (SOC 43-4131 Loan Interviewers and Clerks: probability 0.92, rank 563 of 702)](https://oms-www.files.svdcdn.com/production/downloads/academic/The_Future_of_Employment.pdf), Oxford Martin School, University of Oxford

### Historical notes

26. [HUD -- History of FHA (National Housing Act 1934; FHA standardized underwriting criteria)](https://www.hud.gov/program_offices/housing/fhahistory), US Department of Housing and Urban Development
27. [VA -- History of the GI Bill (2.4 million home loans by 1952; VA home loan program created 1944)](https://www.benefits.va.gov/homeloans/purchasecashout.asp), US Department of Veterans Affairs
28. [CFPB -- 12 CFR Part 1024 (Regulation X): Real Estate Settlement Procedures Act (RESPA 1974 history and HUD-1 requirement)](https://www.consumerfinance.gov/policy-compliance/rulemaking/regulations/1024/), Consumer Financial Protection Bureau
29. [Fannie Mae -- Desktop Underwriter (DU launched 1994; reshaped the loan processing workflow fundamentally)](https://singlefamily.fanniemae.com/originating-underwriting/mortgage-products/desktop-underwriter), Fannie Mae
30. [CFPB -- About the CFPB (created by Dodd-Frank 2010; launched July 2011)](https://www.consumerfinance.gov/about-us/), Consumer Financial Protection Bureau
31. [CFPB -- TRID: Know Before You Owe (effective October 3, 2015; replaced HUD-1 and GFE)](https://www.consumerfinance.gov/compliance/compliance-resources/mortgage-resources/tila-respa-integrated-disclosures/), Consumer Financial Protection Bureau
32. [ABA Banking Journal -- AI in Mortgages: Reshaping the Lending Lifecycle (citing Stratmor Group 2025 AI/ML survey; April 2026)](https://bankingjournal.aba.com/2026/04/ai-in-mortgages-reshaping-the-lending-lifecycle/), American Bankers Association

### Predecessors & successors

33. [FDIC Banking Review -- "The Building and Loan Movement" (early loan clerks drawn from general bank clerical staff)](https://www.fdic.gov/bank/analytical/banking/2001mar/article1.pdf), Federal Deposit Insurance Corporation

### Present-day analysis

- [O\*NET 30.3 -- Loan Interviewers and Clerks (43-4131.00)](https://www.onetonline.org/link/summary/43-4131.00), accessed 2026-06-05
- [BLS OOH -- Financial Clerks (2024-2034): -5% projected, "productivity-enhancing technology" cited](https://www.bls.gov/ooh/office-and-administrative-support/financial-clerks.htm), accessed 2026-06-05
- [ABA Banking Journal -- AI in Mortgages: Reshaping the Lending Lifecycle (April 2026)](https://bankingjournal.aba.com/2026/04/ai-in-mortgages-reshaping-the-lending-lifecycle/), accessed 2026-06-05
- [MPA Magazine -- AI is coming for loan officers; Brookings: 6.1M workers facing high AI exposure + low adaptive capacity (2026)](https://www.mpamag.com/us/specialty/technology/ai-is-coming-for-loan-officers-some-will-adapt-many-will-not/568871), accessed 2026-06-05
- [Eloundou et al. 2024 -- GPTs are GPTs (Science)](https://arxiv.org/abs/2303.10130), accessed 2026-06-05
- [Areal.ai -- What Is Mortgage Automation? The 2026 Guide for Lending Operations Leaders](https://www.areal.ai/blog/what-is-mortgage-automation), accessed 2026-06-05
- [Ocrolus -- Inspect: AI-driven mortgage automation, 99%+ accuracy on income/employment documents (2025)](https://www.ocrolus.com/blog/ocrolus-inspect-ai-driven-mortgage-automation/), accessed 2026-06-05
- [Ocrolus -- AI income verification: evaluates income across all borrower types with 99%+ accuracy](https://www.ocrolus.com/income-verification/), accessed 2026-06-05
- [Ocrolus -- Argyle + Ocrolus partnership: income verification coverage from 60% to 80% (2025)](https://www.ocrolus.com/customer-stories/argyle-ocrolus-close-income-verification-gap-with-ai/), accessed 2026-06-05
- [National Mortgage News -- Ocrolus Automated Conditioning Engine generates conditions and matches documents automatically (ICE Experience 2026)](https://www.nationalmortgagenews.com/news/new-ai-mortgage-tools-unveiled-at-ice-experience-2026), accessed 2026-06-05
- [MeridianLink -- Doc Agent transforms document workflows; eliminates repetitive manual steps and reduces cycle times (2025)](https://nationalmortgageprofessional.com/news/meridianlink-embeds-ai-agents-lending-platform), accessed 2026-06-05

How to read these figures: https://futurehistory.earth/methodology. Every figure links to its own source; gaps stay gaps.