Will AI replace mortgage brokers?
Updated
Loan clerks score 64 of 100 for AI exposure. The largest share of their task time, 59%, is work AI speeds up while they stay in charge. AI can take over 38% outright, and 3% stays with people.
- 38% AI can do it
- 59% AI helps
- 3% Needs a person
High exposure
Higher than 95% of the 923 occupations we scored.
Task by task
We graded 18 tasks, listed here from most to least exposed. AI can do 6 of them today, speeds up 11 and leaves 1 to people.
| Task | AI exposure |
|---|---|
| Record applications for loan and credit, loan information, and disbursements of funds, using computers. Structured data entry from applications into systems. | 80% AI can do it |
| Prepare and type loan applications, closing documents, legal documents, letters, forms, government notices, and checks, using computers. Generating loan forms, letters and notices from templates is routine. | 80% AI can do it |
| Calculate, review, and correct errors on interest, principal, payment, and closing costs, using computers or calculators. Interest and payment math is routine; AI spots errors fast. | 78% AI can do it |
| File and maintain loan records. Digital record filing and retrieval is highly automatable. | 70% AI can do it |
| Assemble and compile documents for loan closings, such as title abstracts, insurance forms, loan forms, and tax receipts. Document assembly is mostly sorting and packaging files. | 65% AI can do it |
| Review customer accounts to determine whether payments are made on time and that other loan terms are being followed. Payment and covenant checks are routine monitoring from data. | 65% AI can do it |
| Verify and examine information and accuracy of loan application and closing documents. AI cross checks document fields; a person signs off. | 62% AI helps |
| Contact credit bureaus, employers, and other sources to check applicants' credit and personal references. Credit pulls automate; reference contact still partly manual. | 55% AI helps |
| Order property insurance or mortgage insurance policies to ensure protection against loss on mortgaged property. Ordering policies is portal work; coverage choices need review. | 55% AI helps |
| Submit loan applications with recommendation for underwriting approval. AI can draft the recommendation; officer decides and submits. | 50% AI helps |
Show the other 8 tasks
| Task | AI exposure |
|---|---|
| Answer questions and advise customers regarding loans and transactions. AI answers routine loan questions; complex advice needs a person. | 50% AI helps |
| Present loan and repayment schedules to customers. AI generates schedules; walking customers through them still needs people. | 48% AI helps |
| Contact customers by mail, telephone, or in person concerning acceptance or rejection of applications. AI drafts notices; calls and in-person contact stay human. | 45% AI helps |
| Establish credit limits and grant extensions of credit on overdue accounts. Rules can screen extensions; granting credit needs human approval. | 42% AI helps |
| Interview loan applicants to obtain personal and financial data and to assist in completing applications. Live interviews need rapport; AI helps with intake forms. | 35% AI helps |
| Accept payment on accounts. Online payments automate; cash and check handling needs people. | 35% AI helps |
| Check value of customer collateral to be held as loan security. Collateral valuation needs inspection; AI only helps with estimates. | 30% AI helps |
| Schedule and conduct closings of mortgage transactions. Closings need in-person signing, notaries and legal accountability. | 20% Needs a person |
How loan clerks compare
All occupations (923)
Office and administrative support (51)
Pay and outlook in the US
- Median pay
- $50,020 a year, May 2025
- People employed
- 164,790 in the US, May 2025
- Projected change in jobs
- -2.4% from 2024 to 2034
Skills to build
- Run mortgage closings with notaries and signing agents present
- Inspect collateral on site and document its condition
- Run payment exception reviews in Automated financial software
- Manage loan files and approvals in Microsoft Dynamics
- Verify applicant references by phone and written confirmation
Safer roles nearby
5 related occupations with lower scores.
Questions about loan clerks and AI
Will mortgage brokers be replaced by AI?
Partly. About 6 in 10 working hours go to tasks AI can already do, mostly recording applications into systems and preparing loan forms and letters from templates. Closings, collateral inspection and live applicant interviews stay with people because they need a person in the room.
Which tasks will AI take from loan clerks?
Data entry from applications into loan systems is the clearest case, with an exposure score of 80, because the fields repeat on every file. Interest, principal and payment calculations, exposure 78, follow fixed formulas that software checks faster. Filing and retrieving loan records, exposure 70, is highly automatable because digital files sort without a person.
Which loan clerk tasks stay with people?
Scheduling and conducting mortgage closings stays human, with an exposure score of 20, because signing needs a person in the room, a notary and legal accountability. Collateral valuation, exposure 30, needs physical inspection. Live applicant interviews, exposure 35, depend on rapport built face to face.
How can loan clerks stay valuable?
Move toward the tasks that stay with people, such as running mortgage closings with notaries, inspecting collateral on site and leading applicant interviews. Learn the exception queue in Microsoft Dynamics and Automated financial software so you check the output the software produces and resolve the flagged payments.
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