Research the job.
Before deciding that being a loan officer is the right job for you, learn about the field using online resources, especially those that specialize in jobs like Bureau of Labor Statistics at http://www.bls.gov/ Loan officers assist people with loan applications for cars, home, and college tuition, helping to determine the best available loan and to make them aware of the various requirements. Although most work for banks or other credit and financial institutions, some work independently with clients and businesses.![When Does A Loan Become A Application When Does A Loan Become A Application](https://personalfinancehub.net/wp-content/uploads/2017/10/car-loan-1.jpg)
![Loan Loan](http://www.sssguides.com/wp-content/uploads/2016/12/SSS-Salary-Loan-Application-Processing-and-Requirements-1.png)
Instructions for Completing the Uniform Residential Loan Application. Uniform Residential Loan Application – Instructions 4 Freddie Mac Form 65. Fannie Mae Form 1003 Form Revised 12/2017. Instructions Revised 02/2019 Select Does not apply. Assets – Bank Accounts, Retirement, and Other Accounts You Have. Check out this state by state guide on how to become a notary public. Becoming a notary public has a number of benefits. First and foremost, you have to be a notary public to become a loan signing agent, where you can make $75 to $200 per hour-long appoin.
[1]- Your duties as a loan officer will include processing applications, making sure that the information is complete and accurate. Analyzing the data, you will determine if a client is credit-worthy, whether to grant a loan, and, if so, under what conditions the loan will be made.[2]
- Some loan officers are highly specialized. They can deal in consumer loans to people, commercial loans to businesses, mortgage loans for real estate, or in loan collection. Some loan officers also travel extensively to meet with clients at businesses or homes.[3]
- The average salary for loan officers in 2012 was $59,280. Some are paid a regular salary while others are paid on commission, with the volume of clients depending on the overall strength of the economy. Many mortgage loan officers must also work long hours.[4]
![When Does A Loan Become A Application When Does A Loan Become A Application](https://personalfinancehub.net/wp-content/uploads/2017/10/car-loan-1.jpg)
- ↑http://www.forbes.com/sites/learnvest/2013/07/17/secrets-of-a-mortgage-loan-officer/
- ↑http://files.consumerfinance.gov/f/201203_cfpb_update_SAFE_Act_Exam_Procedures.pdf
- ↑http://files.consumerfinance.gov/f/201203_cfpb_update_SAFE_Act_Exam_Procedures.pdf
- ↑http://fedregistry.nationwidelicensingsystem.org/Pages/default.aspx
- ↑http://mortgage.nationwidelicensingsystem.org/safe/Pages/default.aspx
- ↑http://fedregistry.nationwidelicensingsystem.org/MLOs/Pages/GettingStartedMLO.aspx
- ↑http://fedregistry.nationwidelicensingsystem.org/Resources/MU4R%20Fields.pdf
- ↑http://fedregistry.nationwidelicensingsystem.org/Resources/MU4R%20Attestation.pdf
- ↑http://mortgage.nationwidelicensingsystem.org/slr/Pages/default.aspx
- ↑http://mortgage.nationwidelicensingsystem.org/profreq/pages/profreqbackground.aspx
- ↑http://mortgage.nationwidelicensingsystem.org/profreq/background/Pages/default.aspx
- ↑http://mortgage.nationwidelicensingsystem.org/profreq/background/Pages/default.aspx
- ↑http://mortgage.nationwidelicensingsystem.org/profreq/testing/Pages/default.aspx
- ↑http://www.nationalmortgagenews.com/news/origination/recruiting-the-next-generation-of-loan-officers-1042981-1.html