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Career and Education Opportunities for Loan Officers in Mesa, Arizona

Loan officers can find both educational opportunities and jobs in the Mesa, Arizona area. There are currently 8,300 working loan officers in Arizona; this should grow 13% to 9,380 working loan officers in the state by 2016. This is better than the national trend for loan officers, which sees this job pool growing by about 10.1% over the next eight years. In general, loan officers evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.

Income for loan officers is about $27 hourly or $57,570 per year on average in Arizona. Nationally, their income is about $26 per hour or $54,700 annually. Loan officers earn more than people working in the category of Accounting and Auditing generally in Arizona and less than people in the Accounting and Auditing category nationally. People working as loan officers can fill a number of jobs, such as: loan analyst, mortgage specialist, and loan originator.

There are five schools within twenty-five miles of Mesa where you can study to be a loan officer, among seventy-six schools of higher education total in the Mesa area. Loan officers usually hold a high school diploma or GED, so you can expect to spend only a short time training to become a loan officer if you already have a high school diploma.

CAREER DESCRIPTION: Loan Officer

Loan Officer video from the State of New Jersey Dept. of Labor and Workforce Development

In general, loan officers evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. They also advise borrowers on financial status and methods of payments.

Loan officers meet with applicants to obtain data for loan applications and to respond to questions about the process. They also analyze applicants' financial status and property evaluations to establish feasibility of granting loans. Equally important, loan officers have to obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial data. They are often called upon to stay abreast of new types of loans and other financial services and products to better meet customers' needs. They are expected to explain to customers the different types of loans and credit options that are available, as well as the terms of those services. Finally, loan officers handle customer complaints and take appropriate action to deal with them.

Every day, loan officers are expected to be able to articulate ideas and problems. They need to see details at a very fine level of focus. It is also important that they listen to and understand others in meetings.

It is important for loan officers to coordinate with clients to pinpoint their financial goals and to discover ways of reaching those goals. They are often called upon to approve loans within specified limits, and refer loan applications outside those limits to management for approval. They also inspect loan agreements to insure that they are complete and accurate in line with policy. They are sometimes expected to talk with underwriters to assist in resolving mortgage application problems. Somewhat less frequently, loan officers are also expected to supervise loan personnel.

Loan officers sometimes are asked to ready reports to send to customers whose accounts are delinquent, and forward irreconcilable accounts for collector action. and interview and train new employees. And finally, they sometimes have to market bank products to individuals and firms, promoting bank services that may meet customers' needs.

Like many other jobs, loan officers must have exceptional integrity and have a strong social orientation.

Similar jobs with educational opportunities in Mesa include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
  • Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
  • Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Loan Officer Training

Mesa Community College - Mesa, AZ

Mesa Community College, 1833 W Southern Ave, Mesa, AZ 85202. Mesa Community College is a large college located in Mesa, Arizona. It is a public school with primarily 2-year programs and has 23,825 students. Mesa Community College has an associate's degree program in Finance which graduated five students in 2008.

University of Phoenix-Phoenix-Hohokam Campus - Phoenix, AZ

University of Phoenix-Phoenix-Hohokam Campus, 4635 East Elwood Street, Phoenix, AZ 85040-1958. University of Phoenix-Phoenix-Hohokam Campus is a medium sized university located in Phoenix, Arizona. It is a private for-profit school with primarily 4-year or above programs and has 4,768 students. University of Phoenix-Phoenix-Hohokam Campus has a bachelor's degree program in Finance which graduated two students in 2008.

University of Phoenix-Online Campus - Phoenix, AZ

University of Phoenix-Online Campus, 3157 E. Elwood Street, Phoenix, AZ 85034-7209. University of Phoenix-Online Campus is a large university located in Phoenix, Arizona. It is a private for-profit school with primarily 4-year or above programs and has 181,146 students. University of Phoenix-Online Campus has a bachelor's degree program in Finance which graduated 422 students in 2008.

Western International University - Phoenix, AZ

Western International University, 9215 N Black Canyon Hwy, Phoenix, AZ 85021. Western International University is a small university located in Phoenix, Arizona. It is a private for-profit school with primarily 4-year or above programs and has 7,940 students. Western International University has a bachelor's degree and a master's degree program in Finance which graduated zero and twenty-four students respectively in 2008.

Arizona State University - Tempe, AZ

Arizona State University, , Tempe, AZ 85287. Arizona State University is a large university located in Tempe, Arizona. It is a public school with primarily 4-year or above programs. It has 67,082 students and an admission rate of 82%. Arizona State University has a bachelor's degree program in Finance which graduated fifteen students in 2008.

CERTIFICATIONS

Certified Lender Business Banker: Applicable to financial services professionals whose primary function and expertise focuses on the provision of credit and financial transaction services to businesses and/or corporations.

For more information, see the Institute of Certified Bankers website.

Certified Personal Banker: Applicable to financial services professionals who have completed the AIB Personal Banking Diploma and who function as personal bankers.

For more information, see the Institute of Certified Bankers website.

Certified Investment Management Analyst: The CIMA offers an intense educational experience focusing on asset allocation, manager search and selection, investment policy and performance measurement.

For more information, see the Investment Management Consultants Association website.

Certified Residential Underwriter: The Residential Underwriting Professional Certificate is designed for residential underwriters seeking recognition for continued excellence in education and professionalism.

For more information, see the Mortgage Bankers Association of America website.

Mortgage Compliance Achievement Certificate: The Mortgage Compliance Achievement Certificate recognizes compliance officers, lawyers and other professionals who seek to maintain current and comprehensive knowledge of the laws, regulations and other compliance requirements applicable to the residential real estate finance industry.

For more information, see the Mortgage Bankers Association of America website.

Commercial Certified Mortgage Servicer: The Certified Mortgage Servicer (CMS) designation recognizes an individual's superior knowledge and experience in servicing practices, theories and applications.

For more information, see the Mortgage Bankers Association of America website.

Residential Certified Loan Officer: The Certified Loan Officer(CMT) designation creates a recognizable and meaningful seal of quality for residential loan officers.

For more information, see the Mortgage Bankers Association of America website.

LICENSES

Loan Originator

Licensing agency: Financial Institutions, Department of
Address: 2910 N 44th Street, Suite 310, Phoenix, AZ 85018

Phone: (602) 255-4421
Website: Financial Institutions, Department of

Mortgage Banker, Commercial Mortgage Banker (license)

Licensing agency: Financial Institutions, Department of
Address: 2910 N 44th Street, Suite 310, Phoenix, AZ 85018

Phone: (602) 255-4421
Website: Financial Institutions, Department of

Mortgage Broker (License)

Licensing agency: Financial Institutions, Department of
Address: 2910 N 44th Street, Suite 310, Phoenix, AZ 85018

Phone: (602) 255-4421
Website: Financial Institutions, Department of

LOCATION INFORMATION: Mesa, Arizona

Mesa, Arizona
Mesa, Arizona photo by Ixnayonthetimmay

Mesa is located in Maricopa County, Arizona. It has a population of over 463,552, which has grown by 16.9% over the last ten years. The cost of living index in Mesa, 92, is below the national average. New single-family homes in Mesa are priced at $289,200 on average, which is far greater than the state average. In 2008, five hundred eighty-four new homes were constructed in Mesa, down from 1,039 the previous year.

The three big industries for women in Mesa are health care, educational services, and accommodation and food services. For men, it is construction, administrative and support and waste management services, and accommodation and food services. The average travel time to work is about 26 minutes. More than 21.6% of Mesa residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 6.7%, is lower than the state average.

The unemployment rate in Mesa is 7.9%, which is less than Arizona's average of 9.3%.

The percentage of Mesa residents that are affiliated with a religious congregation, 39.7%, is less than the national average but more than the state average. The most prominent religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.

Mesa is home to the Water Users Camp Ten and the Arizona Girls Ranch as well as Jackrabbit Stadium and McAfee Place Unit Two Mini Park. Shopping malls in the area include Riviera Plaza Shopping Center, Gilbert Plaza Shopping Center and Apache Plaza Shopping Center. Visitors to Mesa can choose from Hampton Inn Phoenix-Mesa, Extended Stay America - Mesa and Kiva Lodge Motel for temporary stays in the area.