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What kind of education do you need to become a loan officer?

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βˆ™ 2008-04-24 19:49:02

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The US Department of Labor ( 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 banking programs/applications/etc.

Various banking associations and private school offer courses and training for those interested in becoming a loan officer. The Bank Administration Institute (, an affiliate of the American Banker's Association (, offers the Loan Review Certificate Program. The Mortgage Bankers Association ( offers the Certified Mortgage Banker (CMB) designation to loan officers in real estate finance.

Go to the US Department of Labor ( for more information concerning education and training for loan officers.

-Madame Librarian

2008-04-24 19:49:02
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