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 certification.

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You wouldn't want to be outdated in a career that you have just begun, after all!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!

Click here for more details if you are interested in becoming a loan officer.