Occupation Profile

Loan Officers

(SOC Code : 13-2072)

in California

Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Include mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.

Employers are usually looking for candidates with a Bachelor's degree .

View a Career Video for this occupation from America's Career InfoNet (requires Windows Media Player)

Occupational Wages

[Top]

Area	Year	Period	Hourly Mean	Hourly by Percentile
				25th	Median	75th
California	2012	1st Qtr	$37.39	$24.46	$32.44	$44.53

View Wages for All Areas About Wages

Occupational Projections of Employment (also called "Outlook" or "Demand")

[Top]

Area	Estimated Year-Projected Year	Employment		Employment Change		Annual Avg Openings
		Estimated	Projected	Number	Percent
California	2010 - 2020	28,300	37,000	8,700	30.7	1,600

View Projections for All Areas About Projections

Job Openings from JobCentral National Labor Exchange

[Top]

Enter a Zip Code Find a Zip code in California

Within miles of Zip Code.

Possible Licenses Required and Issuing Authority

[Top]

License Title

License Authority

Escrow Agent

Department of Corporations
Financial Services Division
www.corp.ca.gov

Mortgage Loan Originator

Department of Corporations
Financial Services Division
www.corp.ca.gov

California Finance Lender Law

Department of Corporations
Financial Services Division
www.corp.ca.gov

California Residential Mortgage Lending Act

Department of Corporations
Financial Services Division
www.corp.ca.gov

About Licenses

Industries Employing This Occupation (click on Industry Title to View Employers List)

[Top]

Industry Title

Number of Employers in State of California

Percent of Total
Employment for Occupation in State of California

Depository Credit Intermediation

9,651

29.9%

Nondepository Credit Intermediation

14,062

27.1%

Activities Rel to Credit Intermediation

2,371

15.3%

Activities Related to Real Estate

7,464

5.3%

Management of Companies and Enterprises

914

5.3%

Insurance Carriers

4,763

4.1%

Offices of Real Estate Agents & Brokers

39,683

3.0%

Legal Services

57,499

2.2%

Other Financial Investment Activities

18,151

1.0%

About Staffing Patterns

Training Programs (click on title for more information)

[Top]

Program Title

Credit Management

Finance, General

About Training & Apprenticeships

About This Occupation (from O*NET - The Occupation Information Network)

[Top]

Top Tasks (Specific duties and responsibilities of this job.)

Analyze applicants` financial status, credit, and property evaluations to determine feasibility of granting loans.

Obtain and compile copies of loan applicants` credit histories, corporate financial statements, and other financial information.

Meet with applicants to obtain information for loan applications and to answer questions about the process.

Explain to customers the different types of loans and credit options that are available, as well as the terms of those services.

Review loan agreements to ensure that they are complete and accurate according to policy.

Approve loans within specified limits, and refer loan applications outside those limits to management for approval.

Handle customer complaints and take appropriate action to resolve them.

Stay abreast of new types of loans and other financial services and products to better meet customers` needs.

Review and update credit and loan files.

Submit applications to credit analysts for verification and recommendation.

More Tasks for Loan Officers

Top Skills used in this Job

Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Speaking - Talking to others to convey information effectively.

Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Service Orientation - Actively looking for ways to help people.

Social Perceptiveness - Being aware of others` reactions and understanding why they react as they do.

Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.

Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.

More Skills for Loan Officers

Top Abilities (Attributes of the person that influence performance in this job.)

Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.

Oral Expression - The ability to communicate information and ideas in speaking so others will understand.

Speech Clarity - The ability to speak clearly so others can understand you.

More Abilities for Loan Officers

Top Work Values (Aspects of this job that create satisfaction.)

Relationships - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment.

Independence - Occupations that satisfy this work value allow employees to work on their own and make decisions.

More Work Values for Loan Officers

Top Interests (The types of activities someone in this job would like.)

Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.

More Interests for Loan Officers