Mortgage Officer Jobs

A mortgage officer specializes in helping people, businesses, or organizations acquire real estate or refinance an existing mortgage on a property. Individuals with mortgage loan officer jobs develop relationships with residential and commercial real estate agencies so that buyers can be directed to an appropriate mortgage officer. Most loan officer's work the standard 40 hour work weeks although they may work longer hours into the evenings or the weekends.

A bachelor's degree in economics, finance, or a related field is the minimum education requirement for a mortgage loan officer job. There are no specific requirements for loan officers that work in banks or credit unions but the training and licensing requirements for loan officers that work in brokerages or in mortgage banks vary by State and may also include requirements for continuing education. Licensing requirements may become stricter as the types of mortgages that are offered to potential homebuyers increases.

With around 373,000 mortgage officer jobs in 2006, most were employed by saving institutions, credit unions, related financial institutions, and commercial banks. According to the Bureau of Labor Statistics there will be an 11 percent increase in employment for the decade between 2006 and 2016. This rate will be faster than the national average for all occupations and result from economic expansion and increases in population. Additional job opportunities will be created from the need to replace workers that transition to other careers or exit the workforce entirely. Prospective job seekers with college degrees in related fields will have the best opportunities for mortgage officer jobs.

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