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What are the Requirements to Become a Loan Officer?
Loan Officers Help Individuals Acquire Their Dreams
Loan officers help people to obtain their dreams. As a loan officer, you work with clients to find loans to help them purchase a new home, start or expand a business, complete home repairs, or pay for a college education. As a loan officer, you are responsible for locating your own clients, gathering financial information from that client, completing the loan application, running credit checks on loan applicants, and gathering and filing necessary paperwork. Based on the information you gather, you then find the best loan program to suit the client's needs.
The Requirements to Become a Loan Officer
The requirement to become a loan officer depend on whether you work for a banking institute or brokers. In light of recent problems with how home loans were handled, the requirements to become a loan officer have become more stringent. The Banking Association and Mortgage Bankers Associations both offer loan review courses. The Mortgage Bankers Association offers certification for loan officers in real estate finance. The three areas of study and certification they offer include residential, commercial, and an advanced certification known as masters for individuals with more than three years of experience.
Because managing ones finances and making big purchases can be stressful, loan officers should be tactful, honest, and patient as they work with clients to help them reach their goals.
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