Loan Officer Job Description

What is a Loan Officer?

Loan officers review, authorize, and recommend personal and commercial loans for approval. Loan officers meet with applicants in order to determine their creditworthiness. They usually work at mortgage companies, commercial banks, credit unions, and other financial institutions.

Most loan officers have a Bachelor's degree in business administration, finance, economics, or a related field, and are trained on the job. Residential mortgage loan officers must be licensed. Loan officers generally need strong sales and interpersonal skills.

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Loan Officer Job Description Template

Job Overview

XYZ Inc. is a leader in our industry. We're proud of our 3.9 rating on Glassdoor. We are seeking to hire an experienced Loan Officer to join our growing team. If you're eager for your next challenge, XYZ Inc. is a great company for you. This is the opportunity you've been looking for.

Responsibilities for Loan Officer

Sell loan products and meet loan production targets
Perform business development tasks, including managing the pipeline by generating leads and referral business, and maintaining relationships with existing and past clients
Meet and communicate with applicants to explain the risks and benefits, as well as the terms of loan products and government regulations
Obtain relevant information and evaluate applicants' financial status, including credit history, debt-to-income ratio, and appraisal reports, to determine recommendation for loan approval
Ensure all necessary information and documentation is submitted to the loan underwriting department, and is recorded properly in electronic file format
Represent the employer at community events and host seminars
Maintain current knowledge of all applicable lending regulations, the economy, market rates, vendors, and competitors
Consistently deliver first-class customer service

Qualifications for Loan Officer

Associate's degree or Bachelor's degree in business administration, finance, economics, or a related field
2+ years of experience in the mortgage lending, banking, or real estate industry
Strong Microsoft Office skills and ability to use relevant industry-specific computer programs, as well as calculators
Exceptional interpersonal skills and strong customer service orientation
Excellent written and verbal communication skills
NMLS license required
Ability to work both in a team and independently

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Be sure to mention requisite years of experience and educational requirements
Tell job seekers what's unique about your company and job
Ideal length is a few paragraphs or about 200 words
Make sure to use appropriate paragraph breaks and bullet points so it’s easy on the eyes

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