Loan Officer Certification Options
Ever since you were a child, you were
the one that people came to when they needed a loan. Whether your
friends needed to buy candy or wanted to play video games, you were
the one who had saved up his allowance and could loan it out with
a little interest. You learned at a very early age to let your money
make money for you. Now you are all grown up and you need to make
a living. You might be wondering if you can use your age-old talent
of turning a penny into a nickel to pay your bills. If you have
good financial sense, you have probably at some point considered
becoming a loan officer. You might be wondering about loan officer
Exactly how does a person get trained
in that career?
Loan officer certification is
not actually a specific requirement of employers. In most states
there are no education requirments to become a loan officer. Sometimes
for an employer, a bachelor's degree in a field like economics or
finance is necessary, and experience in lending, sales, customer
service, or banking would also be a plus. Loan officers actually
need an aggregate of skills, and not just one or two will do. Some
sort of knowledge of computers and how they function in a financial
environment would also be helpful, especially since many lenders
are relying more and more on new technology.
You wouldn't want to be outdated in
a career that you have just begun, after all! Some loan officers
really do not have training specific to their positions but have
been promoted to them after having spent time as bank tellers or
customer service representatives. Your personal traits alone might
take you far if you are a good intermediary and communicator, if
you show that you have the will do to well at your occupation, and
if you show that you have good sales ability.
Many private schools, online schools,
and bank-related institutions offer some sort of loan officer certification,
although there really is not a national requirement for it to work
in a credit union or bank. For specific employer preferences, you
should ask the companies for whom you are interested in working.
Loan officer certification and licensing requirements for mortgage
brokers are controlled by individual states, so you will need to
find out what your state requires before enrolling in a program.
You can do this by clicking on the link at the bottom of this article.
You might also consider the option of
getting a normal bachelor's degree in finance or economics and working
your way up. You can increase your chances of getting into the position
that you want by creating an impression of self-confidence and motivation.
If you are already working at a bank or financial institution, showing
an increased aptitude for work certainly cannot hurt when it comes
to getting you promoted to a loan officer. In such a case you would
not necessarily need to get loan officer certification.
Even if your state does require loan
officer certification, you might still be hired and working as a
loan officer relatively quickly. All it takes is the right mix of
attributes and skills. Some sort of certification will certainly
give you an advantage even if it is not necessarily mandatory. You
must research all the options before deciding what is best for you!
for more details if you are interested in becoming a loan officer.