What does a commercial loan assistant do?

A commercial lending assistant works with business accounts to assist them with loans they need for business purposes. Your duties as a commercial lending assistant are to suggest loans that fit each client’s needs, review loan applications and other documents, and process loans for business clients.

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Thereof, do you need a degree to be a loan assistant?

Even though most loan assistants have a college degree, it’s possible to become one with only a high school degree or GED. … You may find that experience in other jobs will help you become a loan assistant. In fact, many loan assistant jobs require experience in a role such as customer service representative.

Considering this, how do you become a loan officer assistant? Loan officer assistant training is often done on the job. You’ll also need to pass state and federal tests for licensing. Although an associate or bachelor’s degree may be required, in most cases a high school diploma or GED is sufficient to become a loan officer assistant.

Besides, how much do loan assistants make an hour?

Loan Officer Assistant Salary

Annual Salary Hourly Wage
Top Earners $58,000 $28
75th Percentile $45,500 $22
Average $41,245 $20
25th Percentile $31,500 $15

How much does a loan assistant make?

How much does a Mortgage Loan Assistant make in the United States? The average Mortgage Loan Assistant salary in the United States is $46,375 as of October 29, 2021, but the salary range typically falls between $40,139 and $54,410.

What does loan Assistant mean?

A loan assistant generally works at a bank or other lending institution. They manage, update and correct data related to new loan applications. Typically, the loan assistant uses loan software to determine borrower approval, but they must also have a keen grasp of general financial practices and methods.

What is a loan processor salary?

How much does a Loan Processor make in California? As of Nov 20, 2021, the average annual pay for a Loan Processor in California is $47,105 an year.

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