Loan Officer Jobs

Loan officer jobs give assistance to their clients when going through the process of acquiring a new house, car, or even a college education. Beginning with a meeting or phone call with a prospective client and gathering basic information about the purpose of the loan and answering any questions that the client may have. After completion of the application, the loan officer work continues with verifying the information on the application to decide the applicant's creditworthiness. After which the repayment schedule will be determined. Acting as sales people, a loan officer job can specialize in commercial, consumer, or mortgage loans. Helping companies pay for newer equipment or spread their operation is the primary task of a commercial loan officer. A consumer loan officer handles automobile, personal loans, and home equity loans. Mortgage loan officer jobs handle real estate purchases and refinancing.

Mortgage officer jobs along with the other types will consistently involve travel and work standard 40 hour work weeks but can possibly work longer shifts. Minimum educational requirements are at least a bachelor's degree from a college or university. Employers will consider job seekers with degrees in finance, economics, or a related field along with previous sales experience as favorable for employment. Training and licensing requirements for loan officer work vary by State although there are no specific licensing requirements for loan officers that work in banks or credit unions.

According to the Bureau of Labor Statistics, there is a projected increase of 11 percent in loan officer employment which is close to the national average for all occupations. Job outlook is expected to be good for qualified professionals.

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