Mortgage Loan Officer Training
Mortgage loan officers provide services to consumers applying for a mortgage loan. The loan officer assists the customer with the loan application and then uses an underwriting computer software program to determine creditworthiness. To work as a loan officer at a bank or mortgage company, candidates must participate in specialized training.
Other People Are Reading
-
Education
-
Loan officers must have a high school education. Employers prefer loan officer candidates with bachelor's degrees; suitable majors include finance, business, economics or accounting. Other areas of study are permissible, however, if the applicant has previous banking and sales experience.
Training
-
Loan officers generally receive on-the-job training with the company. This ensures that the loan officer complies with company standards throughout the loan application process with customers. The process varies from one company to the next. In addition to on-the-job training, a loan officer may need to complete additional training programs such as seminars.
-
Licensing
-
Mortgage loan officers must have a license to adhere to federal regulations. To obtain the license, a loan officer must complete 20 hours of coursework and then pass an exam. The candidate must also have no felonies and pass a comprehensive background check.
-
