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Loan Officer

Dr. Frank Flanders and Asha Wise ~ Georgia Agricultural Education Curriculum Office ~ Georgia Department of Education ~ April 2006. Loan Officer. Agricultural Careers. Job Duties & Responsibilities. Contact firms to determine their needs for loans

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Loan Officer

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  1. Dr. Frank Flanders and Asha Wise ~ Georgia Agricultural Education Curriculum Office ~ Georgia Department of Education ~ April 2006 Loan Officer Agricultural Careers

  2. Job Duties & Responsibilities • Contact firms to determine their needs for loans • Setting up meetings with clients and companies and banks • Access the client’s credit history • Guide clients through the process of applying for a loan • Explains the different types of loans to clients • Assist clients in filling out the application

  3. Qualities and Skills • Possess superior communication skills and computer skills • Be responsible, dependable, hard working, honest, and reliable • Driving and traveling is required when visiting clients and attending conferences • Ability to have a flexible schedule is critical • Loan officers should be highly motivated, patient individuals that are confident in their abilities and can establish good working relationships with others

  4. Salary • Median annual earnings of loan officers were $43,980 in 2002 • The middle 50% earned between $32,360 and $62,160 • The lowest 10% earned less than $25,790, while the top 10 percent earned more than $88,450

  5. Education • Loan officer positions generally require a bachelor’s degree in finance, economics, agriculture economics, or a related field • Most employers prefer applicants who are familiar with computers and applications in banking • For commercial or mortgage loan officer jobs, training or experience in sales is highly valued by potential employers • Loan officers without college degrees usually advance to these positions from other jobs in an organization after several years of work experience

  6. Career Resources • Mortgage Bankers Association of America • 1919 Pennsylvania Ave. • NW. Washington, DC 20006-3438 • http://www.mbaa.org • Financial Management Association International 4202 East Fowler Avenue, BSN 3331 Tampa FL 33620-5500 • http://www.fma.org/ • Loan Officer School • http://www.loanofficerschool.com/ • Mortgage Training Institutehttp://www.mortgageknowledge.com/

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