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Career and Education Opportunities for Loan Officers in Gulfport, Mississippi

Loan officers can find both educational opportunities and jobs in the Gulfport, Mississippi area. There are currently 2,500 jobs for loan officers in Mississippi and this is projected to grow 20% to about 3,000 jobs 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 $24 per hour or $50,370 per year on average in Mississippi. Nationally, their income is about $26 per hour or $54,700 per year. Compared with people working in the overall category of Accounting and Auditing, people working as loan officers in Mississippi earn more. They earn less than people working in the overall category of Accounting and Auditing nationally. Loan officers work in a variety of jobs, including: loan counselor, consumer loan officer, and loan reviewer.

The Gulfport area is home to six schools of higher education, including one within twenty-five miles of Gulfport where you can get a degree as a loan officer. Given that the most common education level for loan officers is a high school diploma or GED, it will take only a short time to learn to be 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 Gulfport include:

  • 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.
  • 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.


Mississippi Gulf Coast Community College - Perkinston, MS

Mississippi Gulf Coast Community College, 51 Main Street, Perkinston, MS 39573. Mississippi Gulf Coast Community College is a medium sized college located in Perkinston, Mississippi. It is a public school with primarily 2-year programs and has 9,215 students. Mississippi Gulf Coast Community College has an associate's degree program in Finance which graduated one student 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.

LOCATION INFORMATION: Gulfport, Mississippi

Gulfport, Mississippi
Gulfport, Mississippi photo by Charlie Brenner

Gulfport is located in Harrison County, Mississippi. It has a population of over 70,055, which has shrunk by 1.5% over the last ten years. The cost of living index in Gulfport, 87, is well below the national average. New single-family homes in Gulfport are valued at $108,600 on average, which is well below the state average. In 2008, two hundred forty-two new homes were constructed in Gulfport, down from three hundred twenty-nine the previous year.

The top three industries for women in Gulfport are health care, arts, entertainment, and recreation, and accommodation and food services. For men, it is construction, arts, entertainment, and recreation, and public administration. The average commute to work is about 20 minutes. More than 19.1% of Gulfport residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 6.8%, is lower than the state average.

The unemployment rate in Gulfport is 9.3%, which is less than Mississippi's average of 9.5%.

The percentage of Gulfport residents that are affiliated with a religious congregation, 50.8%, is more than the national average but less than the state average. Saint Johns Catholic Church, Saint James Baptist Church and Broadmoor Baptist Church are all churches located in Gulfport. The most common religious groups are the Southern Baptist Convention, the Catholic Church and the United Methodist Church.

Gulfport is home to the Harrison County Courthouse and the West Side Community Center as well as Cowan Road Field and Harbor Square Park. Shopping centers in the area include Great Southern Shopping Center, Gulf Mart Shopping Center and Hardy Court Shopping Center. Visitors to Gulfport can choose from Best Western Seaway Inn, Crystal Inn and Best Western Seaway for temporary stays in the area.