How Much Do Loan Officer Assistants Make? (Solution found)

The average loan officer assistant salary is $42,666 per year, or $20.51 per hour, in the United States. People on the lower end of that spectrum, the bottom 10% to be exact, make roughly $26,000 a year, while the top 10% makes $68,000.

What does an assistant loan officer do?

Assistant loan officers are in charge of reviewing loan applications and completing administrative tasks for their organization. They are responsible for checking important loan details and requirements before submitting all documentation to the lender.

Is being a loan officer assistant hard?

First and foremost, it is not an easy job. Sure, a mortgage broker or bank may tell you that it’s simple. And yes, you may not have to work very hard in the traditional sense, or take part in any back-breaking work.

Is being a loan officer assistant stressful?

Loan assistants support loan officers working in commercial or real estate areas. Analytical thinking and familiarity with banking processes related to loans, mortgages, and liens will also be important. Your working environment will be fast-paced, and the position might require enduring stressful situations.

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How do you become a loan officer assistant?

To become a loan officer assistant, you will need to have at least a high school diploma or GED certificate. An associate degree in finance may help you stand out in your job search, but it is unnecessary. Your employer should provide adequate on-the-job training to help you fulfill your duties.

Do loan officers get paid a salary?

How Much Does a Loan Officer Make? Loan Officers made a median salary of $63,270 in 2019. The best-paid 25 percent made $92,960 that year, while the lowest-paid 25 percent made $44,840.

Does a loan officer assistant have to be licensed?

Basically, the professional credentials to become a loan officer assistant is the same as that of a loan officer. However, loan officer assistants do not have to become licensed.

How much do junior loan officers make?

The average salary for a junior loan officer is $53,290 per year in the United States.

What is a loan processor salary?

The average loan officer/loan processor salary is $50,689 per year, or $24.37 per hour, in the United States. People on the lower end of that spectrum, the bottom 10% to be exact, make roughly $24,000 a year, while the top 10% makes $105,000. As most things go, location can be critical.

Do underwriters make good money?

Most common benefits The average salary for a underwriter is $83,236 per year in the United States. 3.3k salaries reported, updated at November 18, 2021.

Is Mortgage Lending a good career?

Mortgage lenders generally make good money. Though some are on a flat salary, most make the bulk of their income on commissions. The low end hovers around $35,000 annually, while median pay is about $60,000. If you have the right temperament for the job, mortgage lending can be an incredibly rewarding career path.

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Is becoming a loan officer worth it?

Mortgage loan originators enjoy great flexibility as far as working hours are concerned. Not only that, most MLO jobs come with a bountiful of benefits and perks. Which means that you can enjoy terrific benefits like, health insurance, retirement plans and even fun perks like, catered meals or holiday pay and more!

Are loan officers happy?

Loan officers are one of the least happy careers in the United States. As it turns out, loan officers rate their career happiness 2.5 out of 5 stars which puts them in the bottom 5% of careers.

What makes a great loan officer assistant?

Loan Officer Assistant Skills and Personality Traits We calculated that 24% of Loan Officers Assistant are proficient in Loan Portfolio, Customer Service, and Loan Applications. They’re also known for soft skills such as Detail oriented, Initiative, and Interpersonal skills.

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