Loan Officer Job Description: Top Duties and Qualifications

A Loan Officer, or Mortgage Loan Officer, is responsible for helping customers research loans and navigate the application, approval and closing process. Their duties include recommending commercial and personal loan options to clients and explaining their terms, determining risks for loaning to clients based on their credit and processing paperwork.

Build a Job Description

Loan Officer duties and responsibilities

The Loan Officer is expected to collect and prepare all materials needed to secure a loan. They’re also responsible for reviewing applications. Other than these main duties, some essential responsibilities include the following: 

  • Oversees the staff that does the paperwork for mortgage applications
  • Verifies the information provided on applications to obtain more information if missing data or mistakes are present
  • Communicates with customers to help them choose the best mortgage loan they can afford
  • Collects data from customers, such as their assets, salaries, debts and employment status
  • Reviews file documentation for missing or erroneous information
  • Verifies information about applicant history with credit bureaus and other agencies so the lender can approve or deny the loan
  • Remains aware of loan application deadlines and informs customers about them

Loan Officer Job Description Examples:

×

Loan Officer

Job Description

We are looking for an individual to work with our Executive Team as a Full Time Remote Recruiter for Vice President of Consumer Direct Sales Centers, Licensed mortgage Loan Officers (MLOs) and Processors. You will be partnering with Sales Management to source, qualify, interview and hire top mortgage professionals in strategically defined US market regions. By utilizing your excellent phone communication and social skills, you will provide a creative approach to the job search and interview process.

Essential JOB Responsibilities

Must have experience recruiting top Mortgage professionals

  • Interview and assist with the on-boarding of new candidates.

  • Develop new and effective sourcing strategies for attracting top talent.

  • Source candidates through internet search resume websites.

  • Maintain a strong pipeline of prospective talent.

  • Keep up to date on latest and greatest sourcing tools and techniques.

  • Maintain strong communications with hiring managers throughout the recruitment process.

  • Adapt quickly to changing hiring priorities and formulate plans to fill new roles quickly.

  • Meet hiring goals as determined by Management.

  • Develop and maintain strong candidate relationships for current and future hiring needs.

  • Generate a high volume of daily outbound cold and warm calls.

  • Communicate culture of organization to prospective candidates.

    Skills / Requirements

  • Bachelor’s degree or 2plus yrs. experience as a HR Recruiter.

  • Source, qualify and recruit highly professional, top producing Loan Officers for numerous branches simultaneously.

  • Commitment to and successfully achieve hiring goals.

  • Exciting, engaging, self-motivated attitude.

  • Experience with MS Office (Word, Excel, Power Point), Excel and Social Media

  • Excellent phone and verbal communication skills.

  • Exceptional experience in initiating cold & warm calls

  • Ability to successfully and positively speak about the company, role and industry on initial phone call.

  • Proactive while working independently and with a team.

  • Able to work and adapt quickly and efficiently with changes.

  • Strong negotiation and influencing skills.

  • Strong knowledge of Nmls/ mortgage state licensing.

    About Company

    We are a direct residential mortgage lender, currently licensed in 45 states. Our Corporate office is located in Melville, NY.

    We are comprised of some of the best and brightest in consumer direct mortgage leadership and online marketing technology. Our team has built what is now and Inc. 5000 Fastest Growing Online Lender.

    When you join our company you become part of a supportive and collaborative family with access to direct management and training tools that will accelerate your potential and maximum your career growth.

    We are an Equal Opportunity Employer committed to workforce diversity. Qualified applicants will receive consideration without regard to race, religion, color, orientation, gender, age, national origin, veteran status, disability status or marital status. Employment is contingent upon successful completion of a background investigation. To verify licensing, please visit [website]

    Job Types: Full-time

    Salary: Base salary plus bonus

    Job Type: Full-time

    Experience:

  • HR Mortgage Banking Recruiter: 2 years (Required)

    Education:

  • Bachelor's (Required)

    Language:

  • English (Required)

    Work authorization:

  • United States (Required)

    Additional Compensation:

  • Commission

    Work Location:

  • Fully Remote

    Benefits:

  • Health insurance

  • Dental insurance

  • Vision insurance

  • Retirement plan

  • Paid time off

  • Flexible schedule

    Paid Training:

  • Yes

    Management:

  • Ops Manager

    This Company Describes Its Culture as:

  • Detail-oriented -- quality and Aggressive -- competitive and Monday to Friday
  • ×

    Loan Officer

    Job Description

    We are looking for an individual to work with our Executive Team as a Full Time Remote Recruiter for Vice President of Consumer Direct Sales Centers, Licensed mortgage Loan Officers (MLOs) and Processors. You will be partnering with Sales Management to source, qualify, interview and hire top mortgage professionals in strategically defined US market regions. By utilizing your excellent phone communication and social skills, you will provide a creative approach to the job search and interview process.

    Essential JOB Responsibilities

    Must have experience recruiting top Mortgage professionals

  • Interview and assist with the on-boarding of new candidates.

  • Develop new and effective sourcing strategies for attracting top talent.

  • Source candidates through internet search resume websites.

  • Maintain a strong pipeline of prospective talent.

  • Keep up to date on latest and greatest sourcing tools and techniques.

  • Maintain strong communications with hiring managers throughout the recruitment process.

  • Adapt quickly to changing hiring priorities and formulate plans to fill new roles quickly.

  • Meet hiring goals as determined by Management.

  • Develop and maintain strong candidate relationships for current and future hiring needs.

  • Generate a high volume of daily outbound cold and warm calls.

  • Communicate culture of organization to prospective candidates.

    Skills / Requirements

  • Bachelor’s degree or 2plus yrs. experience as a HR Recruiter.

  • Source, qualify and recruit highly professional, top producing Loan Officers for numerous branches simultaneously.

  • Commitment to and successfully achieve hiring goals.

  • Exciting, engaging, self-motivated attitude.

  • Experience with MS Office (Word, Excel, Power Point), Excel and Social Media

  • Excellent phone and verbal communication skills.

  • Exceptional experience in initiating cold & warm calls

  • Ability to successfully and positively speak about the company, role and industry on initial phone call.

  • Proactive while working independently and with a team.

  • Able to work and adapt quickly and efficiently with changes.

  • Strong negotiation and influencing skills.

  • Strong knowledge of Nmls/ mortgage state licensing.

    About Company

    We are a direct residential mortgage lender, currently licensed in 45 states. Our Corporate office is located in Melville, NY.

    We are comprised of some of the best and brightest in consumer direct mortgage leadership and online marketing technology. Our team has built what is now and Inc. 5000 Fastest Growing Online Lender.

    When you join our company you become part of a supportive and collaborative family with access to direct management and training tools that will accelerate your potential and maximum your career growth.

    We are an Equal Opportunity Employer committed to workforce diversity. Qualified applicants will receive consideration without regard to race, religion, color, orientation, gender, age, national origin, veteran status, disability status or marital status. Employment is contingent upon successful completion of a background investigation. To verify licensing, please visit [website]

    Job Types: Full-time

    Salary: Base salary plus bonus

    Job Type: Full-time

    Experience:

  • HR Mortgage Banking Recruiter: 2 years (Required)

    Education:

  • Bachelor's (Required)

    Language:

  • English (Required)

    Work authorization:

  • United States (Required)

    Additional Compensation:

  • Bonuses

    Work Location:

  • Fully Remote

    Benefits:

  • Health insurance

  • Dental insurance

  • Vision insurance

  • Retirement plan

  • Paid time off

  • Flexible schedule

    Paid Training:

  • Yes

    Management:

  • Ops Manager

    This Company Describes Its Culture as:

  • Detail-oriented -- quality and Aggressive -- competitive and Monday to Friday
  • ×

    Loan Officer

    Excellent opportunity for natural extroverts to receive fast-track training and be licensed and originating home loans within two to three months. Strong communication and customer service skills a must. Our loan officers do not cold call. They answer incoming calls and make outgoing calls to customers that have inquired about our services

    AimLoan.com is a San Diego-based mortgage lender with a 22 year history of taking care of its employees and customers. Read over 100 reviews by AimLoan employees on Glassdoor!

    Centrally located in Mission Valley, our Loan Officers work Monday through Friday, 7:00-4:00 or 8:30-5:30, based on seniority.

    Healthy AND Safe Work Environment

    Our workplace provides:

  • A minimum of 9 feet between workstations

  • Multiple sinks installed throughout buildings

  • Health stations by every door with hand sanitizer, disinfectant and wipes

    Additionally, all Associates practice the following health and safety guidelines:

  • Stay home when you are sick

  • Do not shake hands or touch others

  • Cough or sneeze into your inner elbow

  • Maintain a 6 foot “safe distance” from others

  • Wash your hands regularly with soap and water

  • Use hand sanitizer when soap and water are not available

  • Do not touch your eyes, nose or mouth with unwashed hands

  • Clean and disinfect frequently touched objects and surfaces

    Excellent Compensation

  • $19.50 per hour guarantee, plus commissions

  • $60,000 to $70,000 achievable in first year

  • $80,000 to $100,000 achievable in second year

    Plus Great Benefits

  • 85% employer-paid medical and dental coverage

  • 401(k) plan with 6% company match

    Qualifications

  • Unquestionable integrity and a genuine desire to help others.

  • Ability to thrive in a high volume, fast-paced environment.

  • Self motivated and self sufficient in approach to work.

  • Strong organizational and time management skills; ability to multi-task; close attention to detail.

  • Ability to build and maintain positive and effective relationships with others.

  • Ability to close if believer in product or service.

  • Strong oral and written communication skills, a good listener, articulate.

  • Strong customer service skills; eager to pick up the phone and help customers.

  • College degree or comparable work experience.

    If you share our core values of Integrity, Teamwork, Communication, Service and Continuous Improvement, we want you to join our company. Background checks are conducted, including a review of your credit history. We are a drug free workplace and an equal opportunity employer. Visit our website at [website] to learn more about our company and business model.

    Job Type: Full-time

    Salary: $60,000.00 to $100,000.00 /year

    Education:

  • Bachelor's (Preferred)

    Location:

  • San Diego, CA 92108 (Required)

    Benefits:

  • Health insurance

  • Dental insurance

  • Retirement plan

  • Paid time off

    Paid Training:

  • Yes

    Schedule:

  • Monday to Friday

  • No weekends

    Company's website:

  • No
  • What does a Loan Officer do?

    Loan Officers work for financial institutions, usually banks, to sell financial services and loans to customers based on their needs and qualifications. Loan Officers conduct meetings with people who want a loan to buy a home, purchase a car or start a business. Loan Officers commonly work with homebuyers, but they can take on clients with different goals. They study lending regulations and work with clients to gather the necessary financial documentation to move forward with an application. Loan Officers recommend clients for approval to begin the underwriting process or explain their reasons for denying a request.

    Loan Officer skills and qualifications

    Loan Officers should have a variety of practical skills for their position. The main skills and qualifications of a Loan Officer are:

    • Experience with mortgage loan software programs
    • Communication skills
    • Supervision skills to direct  junior staff
    • Sales skills to sell loan-processing services to customers
    • Excellent organizational and time management skills 
    • Knowledge of federal, state and local levels of loan processing laws and regulations and ability to communicate these laws in a non-technical and conversational manner to others

    Loan Officer salary expectations

    A Loan Officer makes an average of $91,582 per year. Salary may depend on the applicant’s level of experience, education and geographical location.

    Loan Officer education and training requirements

    The minimum educational requirement for Loan Officers is a high school diploma or GED. Computer courses focused on loan software are also helpful. Employers prefer to hire Loan Officer candidates who have at least an associate degree in banking and finance. A bachelor’s degree in finance or economics may be more beneficial. 

    Licensing is not always required. Mortgage Loan Officers, however, require a Mortgage Loan Originator (MLO) license. An MLO license requires credit and background checks, a minimum of 20 hours of coursework and a passing score on the MLO exam.

    Loan Officer experience requirements

    Loan Officers need several years of relevant work experience, particularly in customer service and the finance industry, such as a Teller position at a bank or accounting work. Experience in the fields of finance, accounting and banking are useful tools for a Loan Officer’s career.

    Job description samples for similar positions

    If this description for a Loan Officer isn’t what you were looking for, consider this similar position:

    Frequently asked questions about Loan Officers

     

    What is the difference between a Loan Officer and an Underwriter?

    Loan Officers and Underwriters work together to move clients through the process of applying for a loan and getting approved. Loan Officers are the first point of contact for the client, while Underwriters mainly do research and complete financial paperwork. They meet directly with the client, talk about their financial goals, learn about their financial history and discuss loan options. If a Loan Officer thinks a client can qualify for a loan, they forward their information to an Underwriter, who then performs an in-depth review of the client’s credit score, income, financial history and other factors.

     

    What are the qualities of a good Loan Officer?

    Good Loan Officers must have excellent judgement so that they can decide which loan is right for a client and whether they are trustworthy enough to be trusted with a loan. They are tactful enough to politely explain the reasons for rejecting a client, and also apply problem-solving to help rejected clients pursue other avenues for their financial needs. A good Loan Officer is friendly and committed to excellent customer service any time they interact with a client. They understand issues of bias in the banking industry and work to be fair and equitable in their judgments.

     

    What are the daily duties of a Loan Officer?

    Loan Officers work in a banking office environment and meet privately with multiple clients each day. They pursue leads and reach out to new clients, determine if they are serious about taking out a loan and schedule an appointment. Before a meeting, Loan Officers review the different loan terms their financial institution offers, preparing information about interest rates and payment plans. They welcome clients and ask them questions to collect their personal information and begin assessing the risk of loaning them the money. Loan Officers also communicate with clients after approval and help them fill out and understand forms.

     

    What should you look for on a Loan Officer's resume?

    Experience in a banking or lending environment is essential for a Loan Officer since they need to know the details about mortgages, personal loans and financial risk management to do their job. When reviewing resumes, look for candidates who have a degree in business or finance and have applied their experience through working in a financial field. They should list administrative skills and identify which kinds of lending programs and databases they have used in the past. Loan Officers must have current licensure with the Nationwide Multi-state Licensing System and Registry to stay compliant with finance rules.

    Job Description Examples

    Need help writing a job description for a specific role? Use these job description examples to create your next great job posting. Or if you’re ready to hire, post your job on Indeed.

    No search results found

      *Indeed provides this information as a courtesy to users of this site. Please note that we are not your career or legal advisor, and none of the information provided herein guarantees a job offer.