Commercial Loan Officer Job Questions & Answers

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I'm a finance major @ Wayne State University finishing this December. I live near Detroit. I want to know what experience is needed and if I can have some commercial loan officers tell me the pros n cons of the trade. I also want to know how much do they and their peers earn.
1 answer - Asked By: bichebbani - 4/28/2006
I am interested in getting into commercial real estate, not sure what area....leasing, property management, lending, loan officer, I know it sounds cliche, but I basically just want to go where some big money can be made. I have a background in residential real estate as a loan officer and Account Executive for a subprime lender. From what I hear, people on the commercial side make some great money, it just seems that everyone wants someone with commercial experience. I am willing to pay my dues, training, mentoring, etc, but I just need to find somewhere to get my foot in the door. Any help?!
3 answers - Asked By: chitownj12 - 2/27/2007
I'm currently about to graduate from college and have already made some investments in real estate that are panning out as we speak. Once I graduate I will have a lot of free time on my hands, and so I was wondering if anyone could recommend a good career that would help me continue to learn the ins and outs of property investment. I have already considered the job of Realtor, Property Locator, and Loan Officer- anything else would be very helpful. Thank you in advance!
2 answers - Asked By: Nave - 10/28/2007
I have my bachelors, graduate degree and several years experience in Credit Card Collection, Paralegal. The Paralegal field has fallen with the economy but skill are very useful in other careers. Anyways, I've been a Property Manager while looking for a new career and wanting to get into the Mortgage industry starting at the entry level. I was wondering about Loan Officer, Loan Processor, Assistant Loan Processor, Assistant Loan Officer type positions not Commercial Loan Officers where you have to go out and meet with clients etc. I'm interested in 9-5 desk type position. Are there specific companies that you can suggest that hire more entry level people but with some experience but not direct experience in the Mortgage industry and Loan Officer Mortgage, Loan Processor, Assistant Loan Processor, Assistant Loan Officer? That's what I was meaning. Not necessarily 9-5, 8-5 work as well. I was meaning 9-5ish as in 8-5 works as well.
2 answers - Asked By: Mo - 4/9/2013
I'd like to get into the field. I already have a BA in Business I'm wondering if I should do a training class or two before I submit an application for the position. I live in New York state.
2 answers - Asked By: Nikki T - 6/23/2008
I am interested in getting into commercial real estate, not sure what area....leasing, property management, lending, loan officer, I know it sounds cliche, but I basically just want to go where some big money can be made. I have a background in residential real estate as a loan officer and Account Executive for a subprime lender. From what I hear, people on the commercial side make some great money, it just seems that everyone wants someone with commercial experience. I am willing to pay my dues, training, mentoring, etc, but I just need to find somewhere to get my foot in the door. Any help?!
4 answers - Asked By: chitownj12 - 2/27/2007
Like what kind of classes to take, what your hobby should be etc.????
1 answer - Asked By: drama_qn - 9/17/2007
I am only 16 and i really want to be a commercial pilot. What do i have to do. i have no clue how long it takes and the steps of becoming one, and i never heard of any flight schools in PA. (that's' where i live) Thanks
3 answers - Asked By: Fady T - 8/31/2009
I want a banking job that will offer me outside sales and still let me have a salary and desk at the bank. Does anybody know of any positions like that and what they are called and what banks offer those types of positions?
7 answers - Asked By: Kristyn M - 7/25/2006
I would like to be a commercial airline piolt when I grow up, but I dont know much about it. I would like to know about how much it would cost, how high your grades would have to be, etc.
5 answers - Asked By: Eric - 4/15/2011
It was last week in the newspaper. A pilot working for a big american airline decided to change his profession, and be a police officer? Now, is that a good idea? I mean, maybe you earn more being in the police, but why did he make it?
6 answers - Asked By: Rafael M - 2/19/2008
" tell me a little about yourself" for a job interview at a Bank? What are some positive things to say that would really spark the interviewers attention? Additional: Ive been in banking for about 5+ years now as a teller and personal financial banker. Ive also been a senior loan officer dealing with mortgages for about 2 years as well. Thank you.
2 answers - Asked By: TheCloser - 12/22/2008
My sister want to know 15 jobs that start with letter I. Because it is her homework.
5 answers - Asked By: Vichera - 5/17/2010
I've heard that you don't need to go to school. All you need to know is numbers. I also would like to is what you do basically on a daily routine. I'm trying to make a decision if I want to go that route, knowning the extremely high foreclosures.
1 answer - Asked By: SweetBrunette - 3/18/2007
I have a Bachelor's Degree in Economics, with a major in Banks and Finances. I currently work for a credit union but I am really interested in personal finances, credit issues, stuff like that. What are some jobs related to these things? I'm not that interested in banking, I don't want to just give loans, I want to be able to teach people how to handle their money, how to plan for their retirement etc. More like a financial advisor maybe? How do I get there?
3 answers - Asked By: Cristina M - 9/12/2008
What would I need to know about opening a business for it, bank loans and obtaining a business license. Any suggestions?
2 answers - Asked By: smatthews00 - 12/30/2009
And if i major in finance, and graduate with a finance degree, what are my options after i graduate? Like what sort of jobs could I be working?
3 answers - Asked By: Str4wb3rry - 8/13/2009
1 answer - Asked By: sunshine&summertime! - 6/23/2008
Can someone tell the duties (Job description) of a Bank Operations officer? Which qualification does one need to have in order to become a bank operations officer?
1 answer - Asked By: MBA - 7/19/2007
I am a junior in high school and i want to be a commercial pilot What should i study, do i have to go to college or can i go to a flight school?
11 answers - Asked By: Skins08' - 1/18/2008
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Banking Career Tools

Loan Officer

Salaries

$28,000.00 - $115,025.00
Typical Salary for Loan Officer
(368 Respondents)
Source: Monster.com Careerbenchmarking Tool

Education / Training

Bachelor's
43.7%
Some College Coursework Completed
19.4%
Master's
17.6%
Associates
9.9%
High School
5.4%
Professional
2.3%
(222 Respondents)
Source: Monster.com Careerbenchmarking Tool

Loan Officer

Develops loan applications by evaluating applicant information and documentation.
Rate of Growth
14.20 %
Size of Industry in 2006:
289,000
Source: Bureau of Labor Statistics, May 2006

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Accounting
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Analyzing Information
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