How To Be A Good Loan Officer

The Top Producers Survey identifies the key market developments, business practices and career priorities of the nation's top loan officers.

If you are considering a career in becoming a mortgage loan originator or mortgage broker, then you are in luck. Once you have obtained the necessary requirements, such as mortgage loan originator license , the loan officer job market is estimated to increase by 8% between the years of 2014 and 2024.

Loan officers advise, evaluate and authorize loans to people and businesses. Financing a college education, buying a new car and purchasing a home for your family are among the dreams loan.

How to Become a loan officer: career path guide. If you want to become a loan officer, you first need to determine if this career path is a good fit for your skills, interests and personality traits. If the following description sounds like you, then you’re probably well suited for a career as a loan officer:

You have most of the qualities that loan officers need, but not all of them. Loan officers must have excellent listening and critical thinking skills, and must be service-oriented. Employers usually hire candidates with a bachelor’s degree in finance, economics or a related field. The median annual salary is $63,430. Before you make your next move, learn more about being a loan officer.

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Some banks and mortgage companies require loan officers to hold a bachelor’s degree, so it can about four years to qualify for these jobs. It can take several weeks or months to meet the prelicensing education requirements and pass the examination to become a licensed mortgage loan originator.

Finding a Good Mortgage Loan Officer Assessing your needs. The first step in finding a good loan officer, Questions to ask. When interviewing loan officers, ask them how many years they have been. Key skills: Tax returns and technology. How good are they at evaluating tax returns? Good loan.

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A big difference between being good and great is how the loan officer communicates that value. The best loan officers stay in close touch with top agents in their markets and pay particular.

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If you’re looking at one loan offering a fixed rate and another offering a variable rate, this isn’t a good comparison because one provides. you may submit a paper application directly to a loan.