Loan Officer Education
In some cases candidates with previous experience in banking or sales might be considered for a position without a postsecondary degree.
Loan officer education. Loan officers typically need a bachelor s degree usually in a field such as business or finance. 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. How long does it take to become a loan officer.
Our reviews at trustlink testimonials see what others are saying. Some specialized loan officers called loan underwriters. Overview of mortgage broker loan processor loan officer professions.
Consumer loan officers the ones who give loans to individuals typically hold at least a bachelor s degree in a field like business or finance. Because commercial loan officers analyze the finances of businesses applying for credit they need to understand general business accounting including how to read financial statements. Representatives of banks credit unions and other financial institutions that find and assist borrowers in acquiring loans.
You can trust the quality of our training. 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. Loan officers who seek certification must meet requirements for experience and education and pass a certification exam.
Loan processors require little formal education while mortgage brokers and loan officers typically need a formal degree.