BECOME A LOAN OFFICER

For more information on becoming a loan agent, click the following link: become a loan broker.


What Is A Loan Agent?
A loan agent is an individual who assists clients in the many facets of obtaining a loan, such as finding people or companies who are willing to lend money to the client, completing a mandatory loan application, and all additional paperwork that is necessary to fulfill the loan application.
What Is The Purpose Of A Loan Agent?
The purpose of a loan agent is to facilitate the acquisition of a loan or loans by collecting information from both the client and the business that the client wants to purchase so that an informed decision can be made regarding the quality of the loan and the likelihood of repaying the loan. Many persons find that a loan is the only way that they can afford a car, house, college education, etc. Similarly, loans are usually essential to start a business in addition to purchasing inventory and/or invest in the necessary equipment. A loan agent will search for and locate clients and help them in completing the loan application process.

What Are The Benefits Of Being A Loan Agent?
As a loan agent, you can earn a high six-figure income. There are many benefits to becoming a loan agent such as being able to work from your home or office, there is no selling involved, there is no previous experience necessary, no employees, no special equipment needed, no office rent, and no inventory required.

How Can I Become A Loan Agent?

Educational Requirements for Loan Officers:

To work as a loan officer one must generally have a bachelor's degree in finance, economics or a related field.

Other Requirements for Loan Officers:

Job candidates for loan officer positions should be familiar with computers and their applications in banking. While 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. These criteria also may vary depending on whether workers are employed by a mortgage bank or mortgage brokerage.

Advancement of Loan Officers:

Capable loan officers, once experienced, may move to larger branches of their firms or to managerialpositions. Some may eventually supervise other loan officers and clerical staff.

Job Outlook for Loan Officers:

Employment of loan officers is projected to increase about as fast as the average for all occupations through 2018. Those with college degrees or experience have the best prospects.

Quicken Loans Recruits Loan Recruitors

How Much Do LoanOfficers Earn?: