dcsimg

Loan officers are the intermediaries between borrowers and lending institutions. They help businesses and individuals to find the right types of loans and to obtain these sought-after funds from lenders. However, sales and marketing also can be part of their job, and loan officers can spend part of their time reaching out to new clients and educating people about the products and services that are available.

Loan Officer Schools

A bachelor's degree is important to helping build skills in finance and accounting, but can be a benefit in seeking Mortgage Loan Originator (MLO) licensure. While students typically enter the field by completing a degree, this licensing also is necessary and requires a minimum of at least 20 hours of additional coursework. Because loan officer training programs can be so varied, a number of different options are highlighted below:

  • University of Maryland University College: Students interested in loan officer training programs can complete the bachelor's of degree in finance available through this Maryland-based school. Better yet, the degree can be completed online and includes coursework in money and banking, risk management, and more.
  • Rasmussen College: With campuses available in Minnesota, Florida, Wisconsin, Kansas and other states, students can work on either a certificate or an associate or bachelor's degree in accounting. The bachelor's degree option also provides the opportunity to complete an internship and gain hands-on skills.
  • University of Tampa: This school, in Florida, offers both a full-time day program for completing a bachelor's degree in finance, but also a part-time evening option. A minor in finance is also available and students can join the school's chapter of Delta Sigma Pi, an international business fraternity.
  • North Seattle College: Although the Real Estate Loan Originator Certificate program at this college is specific to real estate, students can complete a 25-credit certificate of completion to learn more about real estate fraud, residential real estate finance, and real estate escrow. The certificate also can be used to complete the school's associate of applied science degree in real estate.
  • Champions School of Real Estate: This school has seven campuses throughout Texas and offers a variety of loan originator licensing programs, including a 23-hour program. This program includes mortgage loan origination fundamentals as well as coursework about specific state law and practice.

Even after you are hired for a loan originator position, you may need to complete training on the job. While loan officer schools help provide you with the education to analyze the finances of individuals or businesses and to take the steps to procure the loan, on-the-job training provides you with a background in the lending institution's specific processes, programs, and guidelines.

Loan Officer Specializations and Courses

There are a number of different career paths to take when becoming a loan officer. Your bachelor's degree program will vary depending on what type of loan officer you want to become. Here are some of the primary specializations that you can choose from as you work toward your degree:

  • Commercial loan officers work on setting up loans for businesses, which may need them in order to be able to expand or take on new functions.
  • Consumer loan officers specialize in providing loans to people, who may seek them to be able to buy a car or to help pay for college.
  • Loan collection officers work with borrowers to help them find ways to make payments on a loan even after a payment or payments have been missed.
  • Loan underwriters determine whether a client is credit worthy by verifying their financial information and assessing their financial background.
  • Mortgage loan officers work on loans related to real estate, which could include the purchase of a home, property or buildings that are either commercial or residential-based.

Students in a loan officer degree program should work to gain skills and knowledge related to:

  • General business accounting
  • Financial statements
  • Software-related programs
  • Credit scores
  • Verification of financial documents

Loan Officer Certification and Licensing

Licensing is mandatory for loan officers in most states, and requirements can vary by state. Most licenses need to be renewed on an annual basis. Be sure to visit the Nationwide Mortgage Licensing System & Registry Center for more information on these requirements, but generally applicants must:

  • Pass a credit history
  • Pass a background check
  • Pass an exam

Certification is not necessary for the field, but is available through the American Bankers Association and the Mortgage Bankers Association. The BLS reports that certification allows a loan officer to demonstrate they have reached a certain level of expertise and also could be helpful to procuring better job opportunities.

Resources for Loan Officers

  • American Bankers Association
  • Mortgage Bankers Association
  • National Association of Mortgage Loan Officers
  • Nationwide Mortgage Licensing System & Registry Resource Center

Sources:

  1. Loan Officers, Bureau of Labor Statistics, Occupational Employment Statistics, May 2014. http://www.bls.gov/oes/current/oes132072.htm
  2. Loan Officers, Bureau of Labor Statistics, Occupational Outlook Handbook, Jan. 8, 2014. http://www.bls.gov/ooh/business-and-financial/loan-officers.htm
  3. Rasmussen College. http://www.rasmussen.edu/degrees/business/accounting/
  4. Finance Bachelor's Degree, University of Maryland University College. http://www.umuc.edu/academic-programs/bachelors-degrees/finance-major.cfm
  5. Finance Degree, The University of Tampa. https://www.ut.edu/finance/
  6. Real Estate Loan Originator Certificate, North Seattle College. https://northseattle.edu/certificates/real-estate-loan-originator-certificate
  7. Loan Originator License, Champions School of Real Estate. https://www.championsschool.com/loan-originator-school/loan-originator-license-courses.php

Metro Areas Sorted by Total Employment for:
Loan Officer Schools

Listed below are metro areas sorted by the total number of people employed in Loan Officer Schools jobs , as of 2016

2016 Occupational Employment Statistics and 2014-24 Employment Projections, Bureau of Labor Statistics, BLS.gov; 2014-24 State Occupational Projections, Projections Central, projectionscentral.com

     
Metro Area Total Employment Annual Median Salary
Anaheim 17470 $69,270
Los Angeles 17470 $69,270
Long Beach 17470 $69,270
Dallas 9300 $66,730
Arlington 9300 $66,730
Fort Worth 9300 $66,730
Phoenix 8510 $62,180
Mesa 8510 $62,180
Scottsdale 8510 $62,180
Miami 5840 $75,960
Total Employment for Loan Officers - Top 5 Cities Nationwide
Compare Total Employment for Loan Officers
STATE
CITIES
EMPLOYMENT
 
Salaries for Loan Officers - Top 5 Cities Nationwide
Compare Salaries for Loan Officers
STATE
CITIES
SALARY
 
Total Employment and Salary for Professions Similar to Loan Officers

Career Stories (Job Profiles) for Loan Officer Schools

To find out more about building a career as Loan Officers, we spoke with professionals in the field across a variety of specialties. Learn about their experiences on the job, the steps they took to complete their education, and what it takes to excel in this industry. Click the link to see a story.

All Types

Most Popular Industries for :
Loan Officer Schools

Industries representing at least 1% of total jobs for the occupation.

2016 Occupational Employment Statistics and 2014-24 Employment Projections, Bureau of Labor Statistics, BLS.gov; 2014-24 State Occupational Projections, Projections Central, projectionscentral.com

Industry Jobs Percent Annual Median Salary
Banking And Credit 284,610 88% $53,850
Business Management 10,690 3% $58,100
Real Estate 4,890 1% $60,910
Government 4,810 1% $67,360
Insurance 4,640 1% $56,970
Securities And Investment 4,440 1% $64,090
Professional And Technical Services 3,620 1% $60,010
Click the Visit School Site buttons to go directly to a school's website and learn more about the school and programs it has to offer. School website will open in a new tab.
Click the Request Info buttons to request more information from a representative at the school.
 
Results:  10
Matching School Ads
Programs
  • B.S. in Finance and Economics
  • M.B.A.: Finance
  • B.S. in Accounting
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Programs
  • Master in Finance
  • Master - Professional Accounting
  • Graduate Specialization - Accounting
  • The first and only 100% online, fully accredited public university in the United States
  • No set class times or locations
  • Affordable tuition, guaranteed not to increase as long as you are enrolled
  • Accelerated eight-week terms
  • Classes start every month
Programs
  • BA Finance
  • MBA - Finance
  • MA Accountancy - Audit
  • Become the leader you know you can be @ Ashford University
  • Apply Now! Classes Start Every Tuesday!
Programs
  • MHA: Finance
  • BS in Business - Finance
  • DBA: Finance
  • Liberty University’s online programs ranked in the top 10 out of more than 2,100 colleges & universities for academic quality, affordability, and accessibility.*
  • 100% online programs at associate, bachelor’s, master’s, and doctoral level.**
  • Transfer up to 90 credits into an undergraduate degree program.
  • Up to 50% of your master’s degree can be transferred in to help you get the most out of your hard work and maximize the credit you previously earned.
Programs
  • Master of Business Administration - Finance and Investing
  • Bachelor of Science in Business - Accounting
  • Bachelor of Science in Accounting
  • Let Regent Lead The Way
  • No matter your passion, you'll find your place at Regent! Choose from more than 95 areas of study in the subject areas employers demand.
Programs
  • MBA - Finance/Accounting
  • MBA - General

What They’re Known For

Founded in 1946 and located in the heart of central New York, Utica College is a regionally accredited, independent, private institution that features many of the advantages of a large university — such as undergraduate and graduate degree options, excellent academics, and outstanding faculty — with the intimacy and high degree of personal attention more closely associated with smaller private institutions.


Programs
  • MS in Finance - H
  • Flexible MBA - Financial Business - H
  • Flexible MBA

Johns Hopkins University Carey Business School has brought the philosophy of business with humanity in mind to a part time format. Now offering several degrees to the part-time student, students can now become business leaders at this nationally recognized institution in as little as 2.5 years.

Programs
  • MBA - Master of Business Administration - Finance
  • MBA - Master of Business Administration - Accounting
  • MBA - Master of Business Administration - Business Intelligence
  • Go Higher with a career-enhancing degree from Concordia Nebraska you can earn fully online. All our online programs are designed to give you the flexibility to study around your schedule. 
  • You'll also benefit from exceptional student support and a rigorous academic experience ranked in the top tier of U.S. News & World Report's Best Colleges 2016 Midwest Regional Universities.
  • Concordia offers a wide variety of MBA program offerings in such fields as Accounting, Business Intelligence, Human Resources, Leadership and Managing, Management, Marketing and Risk Management.
  • Concordia also offers programs in the M.Ed field specializing in Early Childhood Development, Curriculum and Instruction, Educational Administration, and Special Education.
  • As an institution, Concordia University, Nebraska is accredited by The Higher Learning Commission and is a member of its North Central Association.
  • Concordia University, Nebraska is an excellent academic and Christ-centered community equipping men and women for lives of learning, service and leadership in the church and world.
Programs
  • BA in Business Administration/Finance
  • AS in Accounting
  • BS in Accounting

Discover the Difference a Community of Support Makes in Your Educational Journey. From Application to Graduation, the Support You Need to Achieve Your Goals. 100% Online.

New England College was founded in 1946 to educate soldiers coming home from war. The same great support system that welcomed returning GIs is still a hallmark of NEC today. From enrollment services representatives who’ll guide you through the application process to interactive tools that help you collaborate with instructors and classmates, NEC inspires you to reach the milestones of your educational journey.

Programs
  • Financial Management - PhD in Bus. Admin.
  • Financial Management - D.B.A.
  • Advanced Accounting - PhD in Bus. Admin.
  • Ranked among the Best Online Bachelor's Programs in 2014 by U.S. News & World Report.
  • Implements a one-to-one teaching model, partnering one student with one faculty member in each course.
  • 100% of faculty members hold doctoral degrees.
  • No physical residency requirements, allowing students to pursue their degree online.
  • Committed to innovation, diversity, excellence, and accountability since its founding in 1996.
  • Offers several programs in business, education, psychology, and more.

We have some additional detailed pages at the state level for Loan Officer Schools.

Numbers in parentheses are counts of relevant campus-based schools in the state; online schools may also be available.

Back to Top