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Career as a Loan Officer

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About Career as a Loan Officer

Loan officers assist prospective clients in applying for loans and in determining the type and amount of loan that is most suitable for their needs. Loan officers also assess the creditworthiness of loan applicants, judging their suitability as borrowers and the precise terms (interest rate, repayment schedule, etc.) on which credit may be granted to them. Depending on the position, a loan officer may be expected to actively seek out clients, rather than passively wait for applicants to approach his or her financial institution (bank, credit union, etc.) for credit.

Career Prospects of Career as a Loan Officer

The majority of loan officers tend to work a standard 40 hour week. Consumer loan officers are most likely to work set hours from a fixed location, such as a bank branch or office. Commercial and mortgage loan officers often have to work variable hours to confer with clients at the latter's places of work or residence. Both these types of loan officers tend to be out of the office and on the road as a matter of course.

The majority of loan officer positions combine sales responsibilities with analytic requirements: selling loans while determining who are appropriate clients, and on what terms. Some loan officer positions are focused largely on the analytics, with no sales dimension and limited client contact. People in these types of jobs are sometimes called loan underwriters. Other loan officer positions specialize in dealing with clients who are having problems meeting their payments. These are loan collection officers, and they try to work out agreements with troubled borrowers that adjust the repayment terms.

Skills & Education Required for Career as a Loan Officer

A Bachelor's Degree is expected. Coursework in finance, accounting and/or economics is helpful, though not required. Strong quantitative and analytic skills are vital. An MBA can give you a leg up in the hiring process, depending on the firm.

Comments/ Reviews on Career as a Loan Officer

  • iwant a job Posted By : D.RAMAKRISHNA, on 15-04-2012 09:51:24 Report Abuse

  • I have interested in bank job so pls sir accept my comment. Posted By : Nikisha A Parekh, on 12-04-2012 13:36:39 Report Abuse

  • I have done MBA in Retail and Marketing. I would like to make my career in Banking please advice me which job is suitable for me. Posted By : Munish Bhartiya, on 08-04-2012 14:10:41 Report Abuse

  • I have done MBA in Retail and Marketing. I would like to make my career in Banking please advice me which job is suitable for me. Posted By : Munish Bhartiya, on 08-04-2012 14:09:11 Report Abuse

  • dear sir I have done CFA in 2011 and financial modeling course also but I want to do job in banking sector as loan officer but I am fresher so ple suggest me where and how to I can get job. with regards Neetu Posted By : neetu, on 09-03-2012 19:00:34 Report Abuse

  • dear sir I have done CFA in 2011 and financial modeling course also but I want to do job in banking sector as loan officer but I am fresher so ple suggest me where and how to I can get job. with regards Neetu Posted By : neeru, on 09-03-2012 19:00:10 Report Abuse

  • hai sir, i am looking a job for post of loan officer in Chennai. regards ranjini 8973049360 Posted By : ranjini.c, on 24-01-2012 10:52:32 Report Abuse

  • job in gold loan and home loan Posted By : sandeep, on 13-01-2012 17:22:12 Report Abuse

  • i am looking job for credit loan processing officer Posted By : saravanan , on 02-01-2012 17:30:04 Report Abuse

  • had done my B.Com, Present I am in Microfinance 8 years of exp. in home loan and group loans. want bank job in Andhrapradesh as loan officer Posted By : BASAVAIAH, on 16-12-2011 17:57:38 Report Abuse

  • i had done my MBA in marketing with 5 years of exp. in home loan want bank job in jaipur as loan officer Posted By : RAMESH YADAV, on 20-09-2011 23:19:32 Report Abuse

  • Dear Sir, I AM Looking job for post of Loan Officer in Udaipur. Regards Manish Dhupiya 9414290039 Posted By : manish dhupiya, on 06-09-2011 13:04:59 Report Abuse

  • Dear Sir, I AM Looking job for post of Loan Officer in Udaipur. Regards Manish Dhupiya 9414290039 Posted By : manish dhupiya, on 06-09-2011 13:04:42 Report Abuse

  • I am MBA in Finance & International Buss. I m working in INsurance sector from last 5 years Now i want to change my sector from Insurance to Banking or Loan. So please suggest me which cource i shoud do & Detail like admition date Fees. Posted By : Jaya, on 17-06-2011 16:38:00 Report Abuse

  • how much percentage and what qualification is needed to join this course? Posted By : bhawna kothari, on 27-03-2011 12:57:55 Report Abuse

  • what qualification, how much percentage is needed for this course? Posted By : bhawna kothari, on 27-03-2011 12:55:58 Report Abuse

  • i have done my MBA in finance & marketing with post graduation (M.Com). & i would like make my career in finance. so plz advise me for which area i'll select for make my bright career. & have a lot of future opportunity. Posted By : prashant, on 16-02-2011 10:09:35 Report Abuse

  • Im a Specialist officer in Bank of India Credit Dept. Joined just recently. Wanna know how would be my career in future. Being a CA shall I remain in the field or shall i change my field. Please help me out. Posted By : CA.B.M.Tirumalesh, on 21-12-2010 05:51:31 Report Abuse

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