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What is a loan officer assistant and how to become one
The responsibility of a loan officer manager is to evaluate, authorize approval, or deny loan applications for businesses or people. As a loan manager, you are in charge of assessing creditworthiness by processing documentation within specified limits and applications. Before you process a loan, you are expected to interview applicants, whether business or people, to determine their financial feasibility and eligibility for granting loans. You also need to communicate appropriate metrics, ratios and set up a debt payment plan for your client before issuing the loan. Plus, you must ensure that your judgment is justified and report on either approvals or rejections.
Your responsibility as a loan officer manager is to communicate with clients on different types of the loan after assessing their needs. By doing this, you are to develop a relationship with your clients to build trust, customer loyalty, and satisfaction. After issuing the loan, you are expected to manage and maintain account records according to lending laws and regulations.
To become a well-known loan officer manager, you must have excellent communication skills, meet customer satisfaction and sales competency, the ability to work according to a goal, and interpersonal skills. A loan officer manager earns an average of $71,000 yearly or $25.36 per hour. The educational qualification of a loan officer manager is a bachelor's degree in Finance, Economics or, other related fields.
Avg. Salary $45,681
Avg. Salary $59,228
Growth rate 4%
Growth rate 0.3%
American Indian and Alaska Native 0.47%
Asian 6.32%
Black or African American 9.07%
Hispanic or Latino 15.70%
Unknown 4.63%
White 63.81%
Genderfemale 71.15%
male 28.85%
Age - 44American Indian and Alaska Native 3.00%
Asian 7.00%
Black or African American 14.00%
Hispanic or Latino 19.00%
White 57.00%
Genderfemale 47.00%
male 53.00%
Age - 44Stress level is high
7.1 - high
Complexity level is advanced
7 - challenging
Work life balance is fair
6.4 - fair
Loan officer assistant career paths
Key steps to become a loan officer assistant
Explore loan officer assistant education requirements
Start to develop specific loan officer assistant skills
Skills Percentages Customer Service 27.62% Origination 8.91% Loan Process 5.68% Loan Origination 5.21% FHA 4.52% Complete relevant loan officer assistant training and internships
Accountants spend an average of 6-12 months on post-employment, on-the-job training. New loan officers assistant learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a loan officer assistant based on U.S. Bureau of Labor Statistics data and data from real loan officer assistant resumes.Research loan officer assistant duties and responsibilities
- Supervise and manage the processing staff and also underwrite conventional loans for correspondent lenders.
- Collect and organize sales and listing data for files, assemble all data in accordance with Fannie Mae and FHA guidelines.
- Field incoming requests for VA home loans.
- Review loans for REPSA and HMDA guidelines, compliance and require documents.
Prepare your loan officer assistant resume
When your background is strong enough, you can start writing your loan officer assistant resume.
You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a loan officer assistant resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.
Choose from 10+ customizable loan officer assistant resume templates
Build a professional loan officer assistant resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your loan officer assistant resume.
Apply for loan officer assistant jobs
Now it's time to start searching for a loan officer assistant job. Consider the tips below for a successful job search:
- Browse job boards for relevant postings
- Consult your professional network
- Reach out to companies you're interested in working for directly
- Watch out for job scams
How did you land your first loan officer assistant job
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Average loan officer assistant salary
The average loan officer assistant salary in the United States is $45,681 per year or $22 per hour. Loan officer assistant salaries range between $28,000 and $72,000 per year.
What am I worth?
How do loan officers assistant rate their job?
Loan officer assistant reviews
Helping People, secure a better financial future
Having to Decline applicants
when a person being assisted to obtain a loan to uplift their lives
when more loans are deliquent
This is a challenging position. It is not a one-size-fits-all job. The nature of your work depends heavily on the loan officer you work under. High-volume is no joke. You'll need to be sharp and focused all-day, every day you come to work.
It's lots of sitting in a chair. It requires 100% computer time, so you'll need to schedule breaks and get up and walk around intentionally.
Updated January 8, 2025
