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You must generally have a bachelors degree in finance economics or a related field to work as a loan officer.
Miami social security office. Most loan officers need a bachelors degree and receive on the job training. In order to meet education and licensing guidelines one must complete 20 hours of nmls approved education which includes the following. Loan officers typically need a bachelors degree usually in a field such as business or finance.
What degree do you need to become a loan officer. Students who major in business or business administration often focus on one area of concentration like accounting or finance. In fact 47 of loan officers earn that degree.
There are currently no specific licensing requirements for loan officers working in banks or credit unions but licensing requirements for loan officers who work in mortgage banks or brokerages can vary by state. Although loan officers need at least a high school diploma a bachelors degree in business economics finance or other related fields can help one secure a position in this field. Loan officers typically need a bachelors degree usually in a field such as business or finance.
Mortgage loan officers must be licensed. In some cases candidates with previous experience in banking or sales might be considered for a position without a postsecondary degree. Mortgage loan officers must be licensed.
The most common degree for loan officers is bachelors degree. Most loan officers have completed some college education and many have at least a bachelors degree often in a field related to business. Because commercial loan officers analyze the finances of businesses applying for credit they need to understand general business accounting including how to read financial statements.
Loan officers typically need a bachelors degree usually in a field such as business or finance. The secure and fair enforcement act of 2008 safe act requires all state licensed mortgage loan originators mlos complete pre licensure education. Because commercial loan officers analyze the finances of businesses applying for credit they need to understand general business accounting including how to read financial statements.
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