Loan Officer Career

Career Description

One of the most critical functions of a bank is to make loan advances to its customers. This task is performed by the loan officer of a bank. There are several functions that are to be carried out by the loan officer before and after approving the loan proposal from the clients. These include checking the background details of the client like other loans, credit history, creditability of the client, etc. And after the loan is given, the loan officer should track the interest payments made by the clients and take appropriate action.

How to become a Loan Officer:

To become a loan officer, candidates are required to have a background education and experience. Education requirements for candidates applying for the post of a loan officer include pursuing courses in accounting and finance. Work experience should include having a real work exposure through full time pr part time work in any bank related activity.

Loan Officer Career courses, training, programs:

There are many coaching centers and trainings that are provided by a range of institutes that train students on various banking related functions especially focusing on loan advances and credit analysis of the clients, etc.

Loan Officer Career schools/colleges, education:

Various colleges and universities all over the United States provide courses in banking and finance. These courses boast for their world-class architecture, excellent and experienced faculty, and continuously upgraded course materials.

Top 5 colleges/universities:

Westwood College

North Central University

Baker College Online

Southern New Hampshire University

Strayer University

Loan Officer Job opportunities, salaries, recruitment:

Candidates who want to become loan officers can find tremendous opportunities to work for fields like banking, mortgage lending, loans, credit product companies, financial services firms, mortgage banking companies, etc. According to the salary estimates of National Salary data and released by Pay Scale, the annual compensation of a loan officer ranges from $26,000 to $97,000 with the median salary being about $56,000 per year approximately.

Category: Banking Careers

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