Mortgage loan officers are financial professionals who assist lenders in locating borrowers in need of mortgages to finance real estate purchases, as well as borrowers in locating the appropriate lenders. These professionals are typically employed financial institutions such as banks, but they may also work independently or for other businesses. A person interested in getting a mortgage loan, for example, might contact a mortgage loan officer to find out what he or she needs to properly fill out an application and get the best loan for his or her financial situation. To work as a mortgage loan officer, you must first obtain the appropriate license or certification for the job in your area. Plan on taking government-approved courses and passing a proficiency exam to obtain this type of certification.
Although a college degree is not required to become a mortgage loan officer, having one can help you stand out as a more qualified candidate. If you want to pursue this path, consider majoring in finance or accounting. Earning an accountant certification is also a good idea for someone who wants to work as a mortgage loan officer, because many employers demand that applicants have auditing experience.
Anyone interested in becoming a mortgage loan officer should be able to learn and use financial software. If you do not wish to enroll in a college program, you should take some courses to learn how to operate these systems. Mortgage loan officers are frequently required to collect and analyze financial information. They create graphs with computer programs to help borrowers and lenders better understand the markets in which they operate.
If you want to work for a bank as a mortgage loan officer, you’ll need to know a little about how they work. In other words, in addition to assisting borrowers, you may be required to collect and analyze mortgage loan data as well as explain how the data affects larger strategic plans. Presentations and detailed reports may be required of people in these positions.
A person who wants to be a mortgage loan officer must, in most cases, also be a good customer service representative. If you’re the type of mortgage loan officer who works directly with borrowers, you should pay close attention to their needs, goals, and concerns. Because he or she is representing the financial institution, a person who wants to work as a mortgage loan officer in a financial institution should always act professionally.