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Best loan officer certifications
The best certifications for a loan officer are Certified Management Accountant (CMA), International Accredited Business Accountant (IABA), and Residential Certified Loan Officer (CLO).
Loan officer certifications demonstrate your competency as a loan officer to employers. However, not all loan officer certifications provide the same value.
Below is a list of the best loan officer certifications. Obtaining a loan officer certification will give you a leg up when you apply for jobs and increase your potential salary.
9 best certifications for loan officers
9 best loan officer certifications
1. Certified Management Accountant (CMA)
The CMA (Certified Management Accountant) is the advanced professional certification specifically designed to measure the accounting and financial management skills that drive business performance.
- More than two years of education or training after high school required? Yes
- More than two years of work experience required? Yes
- Oral or written exam required? Yes
- Renewal required? Every 1 year(s)
2. International Accredited Business Accountant (IABA)
ACAT seeks to ensure that all accredited individuals possess both the theoretical knowledge and the practical knowledge necessary to be successful practitioners. For that reason, candidates for accreditation must satisfy an experience requirement before becoming fully credentialed: three years of related work experience, up to two of which may be satisfied through college credit. Related work experience includes verifiable experience in accounting, financial services, or other field requiring a practical and theoretical knowledge of the subject matter covered on the ACAT Comprehensive Examination for the International Accredited Business Accountant. Those who pass the exam but who have not met the experience requirement may market themselves as having passed the ACAT Comprehensive Examination for International Accredited Business Accountant, but are not entitled to use the IABA designation.
- More than two years of education or training after high school required? No
- More than two years of work experience required? Yes
- Oral or written exam required? Yes
- Renewal required? No
3. Residential Certified Loan Officer (CLO)
The Certified Loan Officer(CMT) designation creates a recognizable and meaningful seal of quality for residential loan officers.
- More than two years of education or training after high school required? No
- More than two years of work experience required? No
- Oral or written exam required? Yes
- Renewal required? No
4. Certified Medical Office Manager (CMOM)
Experienced medical office professionals with exceptional administrative skills are eligible to sit for the Certified Medical Office Manager (CMOM) exam. To attain CMOM certification, all candidates must demonstrate a high level of knowledge in financial management, managed care contracting, personnel, and time management. Risk management, medical record keeping and facility management issues should also be mastered.
- More than two years of education or training after high school required? No
- More than two years of work experience required? No
- Oral or written exam required? Yes
- Renewal required?
5. Certified Bank Teller (CBT)
Applicable to financial services professionals who have completed the AIB Bank Teller Certificate and who function as bank tellers.
- More than two years of education or training after high school required? No
- More than two years of work experience required? No
- Oral or written exam required? Yes
- Renewal required? Every 3 year(s)
6. Microsoft Office Specialist: Expert (Office 365 and Office 2019)
Demonstrate that you have the advanced skills needed to get the most out of Office by earning a Microsoft Office Specialist: Expert certification in multiple Office programs.
- More than two years of education or training after high school required? No
- More than two years of work experience required? No
- Oral or written exam required? No
- Renewal required? Every 1 year(s)
7. Microsoft Office 365
This exam is designed for students, office workers, or instructors who need to navigate Office 365 at the feature and functionality level, including Outlook Web App, Lync collaboration functionality, SharePoint Online, and Office Web Apps.
- More than two years of education or training after high school required? No
- More than two years of work experience required? No
- Oral or written exam required? Yes
- Renewal required?
8. Nationally Certified Medical Office Assistant (NCMOA)
Medical Office Assistants typically perform administrative duties for health care providers in office settings, although some may also perform basic clinical tasks (as allowed by state laws). Their responsibilities will vary by employer, but may include answering telephones, greeting patients, updating and filing medical records, completing insurance forms, handling correspondence, scheduling appointments, and handling billing or bookkeeping.
- More than two years of education or training after high school required? No
- More than two years of work experience required? No
- Oral or written exam required? Yes
- Renewal required? Every 1 year(s)
9. Professional Credit Specialist (PCS)
Certification enables you to make your clients, customers, colleagues,employers and others with whom you do business aware of the knowledge and skill you have invested in your career in the credit industry.
- More than two years of education or training after high school required? No
- More than two years of work experience required? No
- Oral or written exam required? Yes
- Renewal required? Every 5 year(s)
What is the best certification for a loan officer?
The best loan officer certification is Certified Management Accountant (CMA). The Certified Management Accountant (CMA) is awarded by the The Association of Accountants and Financial Professionals in Business. This certification is great to have as it shows an improvement in your competency to perform your role. You can earn this certification at the beginning of your career, as it often doesn't require a minimum education level and work experience.
Here's a bit more background on how to obtain this loan officer certification:
- To become a certified Certified Management Accountant (CMA), you need to pass the exam.
- This certificate requires more than two years of work experience.
- Renew certification every 1 year.
What certifications can impact a loan officer career and salary?
The Certified Management Accountant certification will help you to secure a branch manager position, which will increase your pay and career trajectory. A branch manager's average salary is $57,426 whereas loan officers make an average salary of $45,817.
The most common combination of loan officer certifications include: Certified Management Accountant (CMA), International Accredited Business Accountant (IABA), and Residential Certified Loan Officer (CLO).
Online courses for loan officers to earn certifications
1. Credit Repair: The Total Guide to a Great Credit Score
Credit Repair: A step-by-step plan to begin improving your credit within one hour of starting! Over 7,000 students!...
2. Intro to Commercial Credit Analysis, Credit Risk and Lending
Commercial Credit Underwriting Lending & Commercial Credit Financial Analysis Credit Risk Foundations...
3. Banking Credit Analysis Process (for Bankers)
Course for Bankers, Consultants and managers to Understand Credit Analysis Process from Indian Context...
4. The Credit Analyst Training course
Learn the complete Credit Risk Analysis skills for jobs in Banks, Asset Management & Credit Rating Agencies...
5. Option Spreads and Credit Spreads Bundle
This 2-course bundle on Option spreads and Credit Spreads surgery is the bedrock of stable Monthly Strategies...
6. #1 Kick A#S Credit Repair Course - Fully Loaded 150+ Letters
Step By Step Course With 150+ Dispute Letter Templates, Dispute Flowchart,Diy Credit Repair Workbook, Ebooks And More!...
7. Financial Statement Analysis
Learn how to make understanding financial statements your superpower!...
8. How to Become a Mobile Notary and Loan Signing Agent
Learn how to make over six figures as a Real Estate Loan Signing Agent and Mobile Notary...
9. U.S. Residential Real Estate, Property & Mortgage Business
Property & Mortgage Underwriting Loan Processing Financial Analysis Mortgage Operations Origination...
10. Advanced Mortgage Loan Processor: Essential Skills Training
Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level...
11. Financial Accounting-Debits & Credits-Accounting Transaction
Masterclass: Learn Accounting Principles, Financial Statements, Transactions & More in this Comprehensive Course...
12. The Advanced Real Estate Financial Modeling Bootcamp
The Complete Guide To Advanced Real Estate Financial Modeling For Real Estate Investment Professionals...
13. Become a Mortgage Loan Processor
Finibi Mortgage CEO, Joe Correa, teaches you how to become a mortgage loan processor...
14. Step-by-Step Guide to Getting the Business Credit You Need
The most comprehensive, step-by-step course to set up any business with credit...
15. Mastering the Pre-qualification Process of a Mortgage Loan
CEO and Founder of Finibi Mortgage teaches you how to pre-qualify borrowers from start to finish...
16. Loan Processor & MLO Mortgage Math: Problems & Solutions
Mortgage skills training and SAFE Mortgage Loan Originator Licensing Exam math prep with 115 problems & solutions...
17. Audit - Financial Statement
Master the Art of Auditing Financial Statements: In-Depth Analysis, Techniques, and Real-World Case Studies...
18. The Complete Financial Analyst Course 2023
Excel, Accounting, Financial Statement Analysis, Business Analysis, Financial Math, Power Point: Everything is Included!...
19. How to Read Financial Statements: Build Financial Literacy.
Read financial statements and speak the language of business without the drudgery of a traditional accounting course...
20. Financial Accounting: The Complete Introductory Crash Course
Learn the Basics of Financial Accounting: Financial Statements, Debits and Credits, The Accounting Cycle and More!...