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Career and Education Opportunities for Loan Officers in Fort Wayne, Indiana

Loan officers can find many career and educational opportunities in the Fort Wayne, Indiana area. The national trend for loan officers sees this job pool growing by about 10.1% over the next eight years. Loan officers generally evaluate, authorize, or recommend approval of commercial, real estate, or credit loans.

Income for loan officers is about $22 per hour or $47,340 yearly on average in Indiana. Nationally, their income is about $26 per hour or $54,700 annually. Loan officers earn less than people working in the category of Accounting and Auditing generally in Indiana and less than people in the Accounting and Auditing category nationally. People working as loan officers can fill a number of jobs, such as: mortgage or loan underwriter, commercial lender, and loan consultant.

There are two schools within twenty-five miles of Fort Wayne where you can study to be a loan officer, among sixteen schools of higher education total in the Fort Wayne area. The most common level of education for loan officers is a high school diploma or GED. You can expect to spend only a short time training to become a loan officer if you already have a high school diploma.


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 Fort Wayne 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.
  • 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.
  • 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.


International Business College - Fort Wayne, IN

International Business College, 5699 Coventry Lane, Fort Wayne, IN 46804-7145. International Business College is a small college located in Fort Wayne, Indiana. It is a private for-profit school with primarily 4-year or above programs and has 620 students. International Business College has an associate's degree program in Finance which graduated seven students in 2008.

Huntington University - Huntington, IN

Huntington University, 2303 College Ave, Huntington, IN 46750. Huntington University is a small university located in Huntington, Indiana. It is a private not-for-profit school with primarily 4-year or above programs. It has 1,211 students and an admission rate of 88%. Huntington University has a bachelor's degree program in Finance which graduated three students in 2008.


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.


Fort Wayne, Indiana
Fort Wayne, Indiana photo by FTSKfan

Fort Wayne is located in Allen County, Indiana. It has a population of over 215,661. The cost of living index in Fort Wayne, 77, is well below the national average. New single-family homes in Fort Wayne are valued at $141,700 on average, which is below the state average. In 2008, one hundred thirty-eight new homes were constructed in Fort Wayne, down from one hundred seventy-three the previous year.

The top three industries for women in Fort Wayne are health care, educational services, and finance and insurance. For men, it is construction, transportation equipment, and metal and metal products. The average travel time to work is about 20 minutes. More than 19.4% of Fort Wayne residents have a bachelor's degree, which is higher than the state average. The percentage of residents with a graduate degree, 6.5%, is lower than the state average.

The unemployment rate in Fort Wayne is 10.5%, which is greater than Indiana's average of 9.4%.

The percentage of Fort Wayne residents that are affiliated with a religious congregation, 50.2%, is less than the national average but more than the state average. Memorial Church, Bethany Church and Souls Harbor Church are some of the churches located in Fort Wayne. The most prominent religious groups are the Catholic Church, the Lutheran Church and the United Methodist Church.

Fort Wayne is home to the Orchard Ridge Country Club and the Georgetown Square as well as Swinney Park and Rockhill Park. Shopping centers in the area include The Uncommons Shopping Center, Decatur Road Shopping Center and Ayr-Way West Shopping Center. Visitors to Fort Wayne can choose from Days Inn Airport Plaza, Purofirst of Allen County and Hometown Inn for temporary stays in the area.