What kind of education do you need to become a loan officer?
The US Department of Labor
(http://stats.bls.gov/oco/ocos018.htm) has some good information
about loan officers, including information about training,
education, job outlook, employment, and salary, etc.
Loan officers typically need a bachelor's degree in finance,
economics, or related fields. Job experience in banks, credit
unions, etc., is also highly valued by employers. There is no
official licensing for loan officers who work in bank and credit
unions, but additional education may be required for those desiring
to work in mortgage bank and brokerages. Some types of loan
officers, for example those working with home buyers, may be
required by some States to obtain various licenses.
Loan officers need to be willing to represent their employer at
community events, have good interpersonal, communication, and sales
skills. Also loan officers must have computer knowledge with
Various banking associations and private school offer courses
and training for those interested in becoming a loan officer. The
Bank Administration Institute (http://www.bai.org/), an affiliate
of the American Banker's Association
(http://www.aba.com/default.htm), offers the Loan Review
Certificate Program. The Mortgage Bankers Association
(http://www.mbaa.org/) offers the Certified Mortgage Banker (CMB)
designation to loan officers in real estate finance.
Go to the US Department of Labor
(http://stats.bls.gov/oco/ocos018.htm) for more information
concerning education and training for loan officers.