How to Get a Job as a Loan Officer
Donnelly says the best loan officers are tenacious salesmen and women, particularly since many are 100 percent paid on commission. In addition: “It’s great to be detail-oriented because loans today have so many data elements,” he notes. “You need to be good at following up, at communicating with your clients. ... And you need discipline.” Loan officers should also learn good customer-service skills, which could lead to more business in the future. “Focus on doing a great job so you can get referrals, and treat people fairly,” Donnelly suggests.
What is the Job Like?
A loan officer who specializes in consumer loans will most likely work in an office full-time. From time to time, they might interact with clients when processing a loan for a car or college tuition, but even then, they’d rarely need to travel outside of the four walls of their office. On the other hand, a mortgage broker might do a lot of travel in his or her community, meeting with clients in coffee houses and restaurants, at the bank, or perhaps even in a prospective new home. “You have to be prepared to work the hours when your clients aren’t working,” Donnelly says. “That means working at night or working on weekends.”