What Skills are Needed for Loan Officer Jobs?
Working in the mortgage industry can be a profitable and rewarding career choice. Loan officers are responsible for originating residential and business mortgage loans. Loan officer jobs require a diverse set of skills; to succeed in the mortgage industry it is important for a loan officer to not merely be competent in these skills, but to excel in them. Loan officer jobs are sales positions; therefore the successful loan officer is one who is very comfortable and proficient with all aspects of the sales process. A loan officer should be adept at attracting and retaining customers, consistent in following up with potential borrowers asking for the sale, overcoming objections and closing the deal. Historically, the most common way that borrowers contacted lenders was through the telephone. While the internet is now a major source of contact for customers with lenders, the telephone is still an integral part of a loan officer’s job. Even in the age of the internet, it is still vital for
