What is an LO? What Is A Mortgage Loan Officer? And what do they do?

LOs, Loan Officers, also referred to as “Mortgage Loan Originators,” are people who work for banks and other financial institutions with the main objective to recommend individual and business loan applications for approval and participate in the front end of the mortgage origination process. Loan officers specialize in commercial, consumer, and mortgage loans.

Loan Officer positions generally require a bachelor’s degree in finance, economics, or a related field if working in the commercial lending sector. With residential lending, Loan Officers must obtain their MLO License from the NMLS and/or registration depending on the type of financial institution where the Loan Officer is employed. Banking, lending, or sales experience is highly valued by employers in both commercial and residential lending. Most employers also prefer applicants who are familiar with computers and their applications in banking. Loan officers without college degrees usually advance to their positions from other jobs in an organization after acquiring several years of work experience in various other occupations, such as teller or customer service representative. Personal qualities such as sales ability, good interpersonal and communication skills, and a strong desire to succeed also are important qualities for loan officers.

Persons planning a career as a loan officer should be capable of developing effective working relationships with others, confident in their abilities, and highly motivated. For public relations purposes, loan officers must be willing to attend community events as representatives of their employers.

Read more about Mortgage Loan Officer on our blog:

What is a Mortgage Loan Officer?

Do you know how much home you can afford?
Find out. Take the first step by getting pre-approved here for FREE!

Make sure to subscribe to our channel and hit the notifications bell to get notified when a new video added to our channel!

Watch our How To Buy a Home in 2020 for The First Time Guide Playlist:

You can reach Keystone Alliance Mortgage here:
Website: https://keystonealliancemortgage.com/
Facebook: https://www.facebook.com/KeystoneAllianceMortgageBroker/
LinkedIn: https://www.linkedin.com/company/keystone-alliance-mortgage-llc
Instagram: https://www.instagram.com/keystonealliancemortgage/
Pinterest: https://www.pinterest.com/keystonealliancemortgage/
Twitter: https://twitter.com/keystoneallian1


By admin

Leave a Reply

Your email address will not be published. Required fields are marked *