Search results
Jun 6, 2024 · Find out how much a Mortgage Loan Officer makes on average in the United States, based on experience, industry, and company. Compare salaries, bonuses, and reviews from real people who work as Mortgage Loan Officers.
People also ask
What does a mortgage loan officer do?
How much do mortgage officers make?
How much does a loan officer make a year?
How much does a mortgage loan officer make in 2024?
Jul 25, 2024 · Find out the average salary, bonus, commission and other compensation for a Mortgage Loan Officer in the United States. Compare pay by location, experience, skill, employer and more with PayScale.
- Our data indicates that the highest pay for a Mortgage Loan Officer is $86k / year
- Our data indicates that the lowest pay for a Mortgage Loan Officer is $34k / year
- Increasing your pay as a Mortgage Loan Officer is possible in different ways. Change of employer: Consider a career move to a new employer that is...
- What Does A Mortgage Loan Officer do?
- How to Become A Mortgage Loan Officer
- Salary and Job Outlook For A Mortgage Loan Officer
- Skills For A Mortgage Loan Officer
- GeneratedCaptionsTabForHeroSec
Collecting all borrowers' financial information, including taxes and debt, for the loanPresenting clients with loan options that are a good fit for themIdentifying future homebuyers through advertising, seminars and other channelsMaintaining detailed and factually correct documents on mortgage transactions2. Complete pre-licensure courses
1. Federal law and regulations (three hours) 2. Ethics, including sections about fraud, fair lending and consumer protection issues (three hours) 3. Training related to lending standards in the non-traditional mortgage product market (two hours) 4. Additional instruction on mortgage origination (12 hours)
4. Pass the SAFE MLO test
1. Register with the NMLS 2. Provide authorization for a credit report (you must have a strong credit history) 3. Provide fingerprints for a criminal background check 4. Verify the accuracy and completeness of the information they provide 5. Disclose any charges from financial regulatory agencies 6. Provide 10 years' worth of financial services employment history 7. Present several types of identification information
5. Fulfill NMLS requirements
1. Sponsorship:Ensure that your employer sponsors and supervises your MLO duties. Your state's regulatory body also must also approve your sponsorships. 2. NMLS Unique Identifier:This is a permanent number that every MLO, real estate company and branch with an NMLS account has. These unique Identifiers help track companies and licensees and are listed on all advertisements for mortgage origination services.
Mortgage loan originator: $162,095 per year. The average commission for this role is $27,600 per year.Loan officer: $169,030 per year. The average commission for this role is $24,000 per year.Organization:MLOs often work on multiple loans at the same time, making organization an important skill to develop. It also helps them keep track of their continuing education and licensing require...Attention to detail:Since MLOs work with a lot of numbers and specific loan factors, attention to detail is particularly useful. With this skill, they can ensure interest rates, loan amounts and bo...Financial skills:MLOs should have detailed financial knowledge to help borrowers make informed decisions. They spend most of their days reviewing finances, including credit scores and income, to de...Learn the steps to become a mortgage loan officer, including education, licensure, exam and skills requirements. Find out the average salary and job outlook for this career.
Aug 19, 2024 · The average salary for a loan officer is $182,828 per year in the United States and $35,500 commission per year. 82.9k salaries reported, updated at August 19, 2024
Jul 7, 2023 · Learn how much mortgage loan officers make in the US, how they get paid, and what factors affect their income. Find out the key responsibilities, stress levels, and how to become a top earner in this career.
Jun 6, 2024 · Find out the average salary, total pay range, and career path for a Mortgage Loan Officers in the US. See salaries by years of experience, industry, and company, and compare with other finance roles.
Find out the average salary range, benefits, and job outlook for Mortgage Loan Officers in different states and cities. Compare your skills and experience with the market data and get your personalized pay target.
