Mortgage Bankers

Mortgage Bankers Discuss Loans

Mortgage bankers provide potential homeowners and businesses with loan financing or re-financing opportunities. They work for banks, mortgage companies, and credit unions.Ā Mortgage bankers are also known as mortgage loan officers. Approximately 303,870 loan officers (including those who specialize in mortgages) are employed in the United States.

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Quick Facts
Alternate Title(s) Mortgage Loan Officers
Duties Supply financing to individuals and businesses to purchase homes, buildings, and property; analyze applicants' financial status and ability to repay a loan; reach out to prospective clients; ensure all mortgages comply with laws and regulations
Salary Range $25,000 to $100,000+
Work Environment Primarily Indoors
Best Geographical Location(s) Opportunities are available throughout the country, but are best in large, metropolitan areas
Minimum Education Level
  • Bachelor's Degree
School Subjects
  • Business
  • Economics
  • Mathematics
Experience Three to five years of mortgage experience in lower-level positions
Personality Traits
  • Enterprising
  • Hands On
  • Organized
  • Business Management
  • Leadership
  • Sales
Certification or Licensing Required
Special Requirements Must undergo a criminal background check and a credit check
Employment Prospects Good
Advancement Prospects Fair
Outlook About as Fast as the Average
Career Ladder
  • Bank Executive
  • Mortgage Banker
  • Associate Mortgage Banker
  • Mortgage Broker

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