Mortgage loan officer is listed #14 in U.S. News & World Report's rankings for business jobs. The median salary for the position is $64,660 and it doesn't require any graduate-level education. Before You Get Licensure. If you want to become a mortgage loan officer, you probably have a number of questions about what the position entails. Mortgage loan officer job requirements and responsibilities may vary with different employers. When crafting your own mortgage loan officer job description, be sure to tailor it to your needs. Job brief. We are looking for an experienced mortgage loan officer to join our team.
This mortgage loan officer sample job description can assist in your creating a job application that will attract job candidates who are qualified for the job. Feel free to revise this job description to meet your specific job duties and job requirements.
Mortgage loan officer what is it. Education: You must generally have a bachelor's degree in finance, economics, or a related field to work as a loan officer. Licensure: There are currently no specific licensing requirements for loan officers working in banks or credit unions, but licensing requirements for loan officers who work in mortgage banks or brokerages can vary by state.They must generally have a Mortgage Loan. Or what the average mortgage loan officer salary is? Well, take note that most loan officers do not receive a base salary, only commission, so they are paid for performance. Sales performance. The median income for a loan officer in the United States was $63,650 in 2016, according to the Bureau of Labor Statistics (BLS). Our Loan Officer Hub podcast page is a one-stop-shop for leading mortgage insights for loan officers. Loan Officers should explore the podcasts below if you are interested in expanding your understanding of areas related to mortgage tips, trends, referral strategies, real estate insights, consumer content and social media success.
Mortgage loan officers must have a Mortgage Loan Originator (MLO) license. To become licensed, they must complete at least 20 hours of coursework, pass an exam, and submit to background and credit checks. Licenses must be renewed annually, and individual states may have additional requirements. Find a Loan Officer Near You Select the state where the property you are financing is located. Select a state Alabama Arizona Arkansas Colorado Florida Georgia Idaho Indiana Iowa Kansas Kentucky Louisiana Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Carolina Ohio Oklahoma Pennsylvania South Carolina Tennessee. From there, the Mortgage Loan Officer is responsible for working with the borrower to complete mortgage loan application, submitting the application to underwriting, following up on any additional information needed or requested from the underwriter, and communicating the loan decision to the potential borrower.
Mortgage Loan Officer. Visit Brandon's Profile. Hassan Minter. Mortgage Loan Officer. Visit Hassan's Profile. Our Office Clear Mortgage Capital, Inc. 100 Pacifica, Suite 100 Irvine, CA 92618. Office hours. Monday – Friday. 8:00 am – 7:00 pm. For Appointments. Call: 949-238-6220. Pages Home Loan Officers Blog Careers. Loan Officer Job Description. For years, the job of a loan officer held a certain allure because it offered a stable, relatively high salary without the need of a professional degree. Mortgage loan officers must be licensed, but the job of a loan officer doesn’t require costly years in graduate school. The BLS estimates that the median pay. 15,327 Mortgage Loan Officer jobs available on Indeed.com. Apply to Loan Officer, Junior Loan Officer, Loan Assistant and more!
Mortgage approvals are subject to underwriting guidelines provided by the Federal Home Loan Mortgage Corporation and Federal National Mortgage Association. Final loan approval is subject to verification of information provided on the application, a clear review of appraisal and clearing of investor guidelines and underwriting conditions which. Loan Officer: Representatives of banks, credit unions and other financial institutions that find and assist borrowers in acquiring loans. Some specialized loan officers, called loan underwriters. The national average salary for a Mortgage Loan Officer is $40,569 in United States. Filter by location to see Mortgage Loan Officer salaries in your area. Salary estimates are based on 1,324 salaries submitted anonymously to Glassdoor by Mortgage Loan Officer employees.
Type Example Notes; Fuzzy: kettle~: Contain terms that are close to the word kettle, such as cattle: Wild: cat* Contain terms that begin with cat, such as category and the extact term cat itself: Exact-Single: orange: Contain the term orange: Exact-Phrase How Mortgage Loan Officers Get Paid . Loan officers get paid in a way that they call "on the front" and/or "on the back." If a loan officer makes money on the front, that means they are charging. The mortgage loan officer will be responsible for attracting mortgage customers and completing loan processing and closing tasks. He or she will also be expected to develop close business contacts with a diverse group of consumers and supervise less-experienced staff members.
Mortgage Loan Officer. Origination of mortgage loans and refinance in all states. Provide conventional, FHA, VA, HARP & Doctor loans to new and existing SunTrust clients. Seventy percent of the work day is calling out to SunTrust clients for sales opportunities. Participating in an online chat pilot. Joe Parsons: A loan officer at a bank or a credit union is typically just the smiling face of the institution—the officer's job is to accept an application that the borrower has filled out, and. Loan officers evaluate, authorize, or recommend approval of loan applications for people and businesses.. Most loan officers are employed by commercial banks, credit unions, mortgage companies, and related financial institutions.Mortgage loan officers must be licensed.
Michael Gracz NMLS 1160212 is a veteran mortgage loan officer with The Gustan Cho Team at Loan Cabin. Mike can help borrowers with less than perfect credit and higher debt to income ratios. Click a Mortgage Loan Officer's picture below to see what areas they cover. The Nationwide Mortgage Licensing System and Registry (NMLS) is a national registry for mortgage loan officers. The registry is maintained by the federal government and assigns each registered professional a unique identification number. Mortgage loan officers need a mortgage loan originator license, which requires passing an exam, at least 20 hours of coursework and background and credit checks. Additional training takes place on.
While some mortgage loan officers do earn six-figure salaries, most are mid-five-figure folks. The US Bureau of Labor Statistics reports the median salary for a loan officer was $51,760 in 2006, with the middle 50 percent earning between $37,590 and $73,630.