1. A loan officer serves as an intermediary between lending institutions and borrowers. 2. Loan officers work for banks and other financial institutions. They help individuals and businesses obtain funds from these lenders. 3. Relying on fax machines and a desktop computer to complete a loan application, this work can be done from home. 4. They can set their own hours, work part time or full time, making money without any risk. 5. Loan officers can quickly access the client's credit history by computer and obtain a credit score representing a software program's assessment of the client's creditworthiness. 6. There are currently no specific licensing requirements for loan officers working in banks or credit unions. Training and licensing requirements for loan officers who work in mortgage banks or brokerages vary by State. 7. A number of online courses provide different program modules for loan officer trainees, such as live classes, multimedia materials. It takes $500-$1500 to cover these training materials, sales and marketing methods, software tools and so on. 8. More than 300,000 loan officers in United States, the top 10 percent earned more than $100,000 per year.
|
|