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Career and Education Opportunities for Loan Officers in Kaneohe, Hawaii

Loan officer career and educational opportunities abound in Kaneohe, Hawaii. There are currently 930 working loan officers in Hawaii; this should grow by 8% to about 1,010 working loan officers in the state by 2016. This is not quite as good as the nation as a whole, where employment opportunities for loan officers are expected to grow by about 10.1%. Loan officers generally evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.

Income for loan officers is about $26 hourly or $55,750 yearly on average in Hawaii. Nationally, their income is about $26 per hour or $54,700 yearly. Incomes for loan officers are better than in the overall category of Accounting and Auditing in Hawaii, and not quite as good as the overall Accounting and Auditing category nationally. Jobs in this field include: mortgage banker, relationship manager, and lender.

The Kaneohe area is home to twelve schools of higher education, including one within twenty-five miles of Kaneohe where you can get a degree as a loan officer. Loan officers usually hold a high school diploma or GED, so it will take only a short time to learn to be 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 Kaneohe 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.
  • 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.
  • 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.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Loan Officer Training

University of Hawaii at Manoa - Honolulu, HI

University of Hawaii at Manoa, 2500 Campus Road, Hawaii Hall, Honolulu, HI 96822-2301. University of Hawaii at Manoa is a large university located in Honolulu, Hawaii. It is a public school with primarily 4-year or above programs. It has 20,169 students and an admission rate of 69%. University of Hawaii at Manoa has a bachelor's degree program in Finance which graduated 125 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

Mortgage Broker

Licensing agency: Mortgage Brokers & Solicitors Program
Address: Professional and Vocational Licensing Division, Hawaii State Dept. of Commerce & Consumer Affairs, P. O. Box 3469, [335 Merchant St., Rm. 301, Honolulu, HI 96813

Phone: (808) 586-3000
Website: Mortgage Brokers & Solicitors Program Professional and Vocational Licensing Division Hawaii State Dept. of Commerce & Consumer Affairs

Mortgage Solicitor

Licensing agency: Mortgage Brokers & Solicitors Program
Address: Professional and Vocational Licensing Division, Hawaii State Dept. of Commerce & Consumer Affairs, P. O. Box 3469, [335 Merchant St., Rm. 301, Honolulu, HI 96813

Phone: (808) 586-3000
Website: Mortgage Brokers & Solicitors Program Professional and Vocational Licensing Division Hawaii State Dept. of Commerce & Consumer Affairs

LOCATION INFORMATION: Kaneohe, Hawaii

Kaneohe, Hawaii
Kaneohe, Hawaii photo by Grillo

Kaneohe is situated in Honolulu County, Hawaii. It has a population of over 35,987. The cost of living index in Kaneohe, 167, is far greater than the national average.

The three most popular industries for women in Kaneohe are educational services, health care, and public administration. For men, it is public administration, construction, and accommodation and food services. The average commute to work is about 30 minutes. More than 29.5% of Kaneohe residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 9.8%, is higher than the state average.

About 6.1% of Kaneohe's residents are below the poverty line, which is better than the state average.

The percentage of Kaneohe residents that are affiliated with a religious congregation, 33.3%, is less than both the national and state average. Door of Faith Church, Pali View Baptist Church and Kaneohe Congregational Church are among the churches located in Kaneohe. The largest religious groups are the Catholic Church, the LDS (Mormon) Church and the Southern Baptist Convention.

Kaneohe is home to the Kaneohe Civic Center and the ‘Iolani Building as well as Käne‘ohe Civic Center Playground and Kaluapuhi Neighborhood Park. Shopping centers in the area include Käne‘ohe Shopping Center, Käne‘ohe Bay Shopping Center and Windward City Shopping Center.