Become A Mortgage Processor
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12 CFR Appendix C to Part 100 Independent Contractors.
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A loan officer works for a bank or independent lender to assist borrowers in applying for a loan.
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The BLS projects an 11 increase in loan officer positions between 2016 and 2026 This rate is higher than the national average for all careers combined making loan processor careers an excellent option for those interested in the finance field.
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The mortgage processor
Many of loan files may need a mortgage processor who needs
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After completion of prelicensing course a mortgage
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Loan officers work in the financial industry while real estate agents also known as real estate sales agents work in sales Loan officers require more formal postsecondary training earn a notably higher salary than real estate agents and currently have better job prospects due to a faster job growth rate.
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To earn this certification the loan processor must complete at least 42 hours of training that includes all four subjects of the CMLP exam plus the FHA's special rehab program analysis of tax returns and mortgage fraud awareness and prevention.
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