Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.
What you can expect to experience while on the job
Employment of loan officers is projected to grow 3 percent from 2019 to 2029, about as fast as the average for all occupations. Increased demand for loan officers is expected as both businesses and individuals seek credit to finance commercial investments and personal spending. Loan officers will be needed to evaluate the creditworthiness of applicants and to determine the likelihood that loans will be paid back in full and on time. However, the decline of bank branches and the increased use of productivity-enhancing technology in loan processing are expected to slow employment growth.Read More
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