According to the Bureau of Labor Statistics, mortgage loan officers also have to be licensed and certified nationwide before they get hired. Loan officers work directly with individuals and businesses to evaluate their credit and try and get them a loan … Mortgage loan officers specialize in loans used to buy real estate (property and buildings), which are called mortgage loans. Loan Officers job description, Loan Officers salary, Loan Officers information, what is the job of a Loan Officer like, pros and cons about Loan Officers, colleges and universities for Loan Officers, is Loan Officers the right career for me, careers in Business and Finance. They usually work at mortgage companies, commercial banks, credit unions, and other financial institutions. Click Here to Download Bank Loan Officer Job Descriptio1 Searches related to loan officer jobs. This professional must be able to guide customers through the application process and answer their questions properly. Also, individual banks can supply information about job openings and the activities, responsibilities, and preferred qualifications of their loan officers. Loan Officer Salary. Because commercial loan officers analyze the finances of businesses applying for credit, they need to understand general business accounting, including how to read financial statements. According to the Bureau of Labor Statistics, the rate of employment will rise by 8% by 2024. Loan Officer education and training requirements Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession. The level of growth is attributed to the fluctuating economy, to low-interest rates, and to population growth. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. You can also find there some more information about the loan officer job description. credit officer jobs. Developing referral networks and sending reports to customers. The employer also reserves the right to attribute more or to reduce some of the responsibilities of each employee. Loan Officer Job Description. Plus, it’s quite common to have to travel and visit clients. Without these qualities, easily recognizable by any trained HR representative, it is borderline impossible to get a job as a loan officer. This site uses Akismet to reduce spam. Truity does not editorialize the information, including changing information that our readers believe is inaccurate, because we consider the BLS to be the authority on occupational information. How to write a Loan Officer job description. Your job description is the first touchpoint between your company and your new hire. The median annual salary for loan officers is $63,650. Writing Your Mortgage Loan Officer Job Description: Dos and Don’ts. However, if you would like to correct a typo or other technical error, you can reach us at help@truity.com. Loan officers will be needed to evaluate the creditworthiness of applicants, and determine the likelihood that loans will be paid back in full and on time. Search 118 Loan Officer jobs now available on Indeed.com, the world's largest job site. Advise borrowers on financial status and methods of payments. Computing and designing payment schedules, as well as updating and reviewing loan and credit files. Loan officers' salaries can depend on their employers and the scope of their responsibilities. Loan Officer salary expectations A Loan Officer makes an average of $91,582 per year. Credit analysts and loan officers have similar jobs, but work for different types of financial institutions. However, if you are interested in following this career path, either temporary or for a longer period, you can follow this link for an example of a loan officer job resume. Because companies have such complex financial situations and statements, commercial loans usually require human judgment in addition to the analysis by underwriting software. The average salary for a Loan Officer is $48,387. Certification can enhance job prospects for potential loan officers, and those dealing with mortgage loans must become licensed in their state. Include updating account records and reviewing loan files show great persuasion and sales skills ’ ts rates, the... Operation in recent years, a trend that is about the bank or lending.! That can more efficiently process data and loan officers who specialize in evaluating whether a is! Many loan officers to process loan applications for people with lending,,! 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