Top companies for Loan Officers in United States
- NEXA Mortgage. $237,763. per year. 15 reviews713 salaries reported.
- Geneva Financial. $211,609. per year. 66 reviews43 salaries reported.
- Obsidian Financial Services. $190,193. per year. …
- RealFi Home Funding Corp. $184,747. per year. …
- Affordable Financial Services. 4.7. $176,384.
Then, are loan officers happy?
Loan officers are one of the least happy careers in the United States. … As it turns out, loan officers rate their career happiness 2.5 out of 5 stars which puts them in the bottom 5% of careers.
Keeping this in consideration, can loan officers make millions?
Pitching government loans, top mortgage officers can make millions a year, according to Jim Cameron, senior partner at Stratmor Group, a mortgage industry advisory firm. Brian Decker works at LoanDepot in Riverside County, Calif., where he sold more than $200 million worth of home loans last year.
Do mortgage loan officers make good money?
Loan Officers made a median salary of $63,270 in 2019. The best-paid 25 percent made $92,960 that year, while the lowest-paid 25 percent made $44,840.
The qualifications that you need to get a job as a loan officer with no experience include a bachelor’s degree in a field like finance, business, or accounting. Employers expect a new loan officer to have a Mortgage Loan Originators license (MLO) from the Nationwide Mortgage Licensing System.
The loan amounts you close and your basis points are going to depend on where you work and where you’re located because it’s going to be tied to the average home sale price in your area. Overall, being a loan officer is a very rewarding career and has the potential to pay very well.
With a median salary of $63,650, loan officers report an average level of job-related stress and upward mobility, according the report, but they also have an above-average level of flexibility and work-life balance.
What are Top 5 Best Paying Related Mortgage Industry Jobs in the U.S.
|Job Title||Annual Salary||Hourly Wage|
|Vice President Mortgage||$125,833||$60.50|
|Regional Mortgage Manager||$101,874||$48.98|
Types of Mortgage Jobs
- Mortgage Loan Jobs. Loan officers are a point of contact when a person wants to obtain a mortgage to purchase real estate, as explained by the Bureau of Labor Statistics, or BLS. …
- Mortgage Processor. …
- Mortgage Broker. …
- Mortgage Underwriter. …
- Escrow Officer.
There a lot of job opportunities as a loan officer, as it’s a continually growing field. Also, the industry can be quite rewarding on the financial end of things. … The mortgage industry offers the opportunity to impact a larger number of people—as it is typical to close on around 20 loans per month.