High School
Business, statistics, economics, accounting, and mathematics classes will provide useful preparation for a career as a loan processor. English and speech courses will help you to develop your communication skills, which you’ll use frequently when dealing with loan applicants and colleagues. Other recommended classes include computer science, history, social studies, and foreign language.
Postsecondary Education
A minimum of a high school diploma is required to become a loan processor, although some employers prefer to hire applicants with at least an associate’s degree. Typical college majors include business, business administration, and finance.
Banks and other employers provide on-the-job training to new hires that typically lasts from three to six months.
Certification
Some colleges and universities offer certificates in loan processing or related fields. Contact schools in your area to learn what type of certificate programs are available.
Other Education or Training
The National Association of Mortgage Processors offers live instructor-led and recorded mortgage processing training classes such as Commercial Processing and Underwriting 101, Advanced Commercial Processing and Underwriting, and Mortgage Fraud Awareness and Prevention. The American Bankers Association offers continuing education courses such as Basics of Mortgage Processing, Mortgage Customer Counseling and Prequalification, Preparing the Closing Disclosure, Fundamentals of Mortgage Lending, and Law and Banking: Principles. Contact these organizations for more information.
- Accountants
- Auditors
- Automatic Teller Machine Servicers
- Automotive Dealership Sales Managers
- Bank Branch Managers
- Bank Examiners
- Billing Clerks
- Bookkeeping and Accounting Clerks
- Business Managers
- Chief Financial Officers
- College Administrators
- Compliance Managers
- Credit Analysts
- Economists
- Financial Analysts
- Financial Institution Officers and Managers
- Financial Institution Tellers, Clerks, and Related Workers
- Financial Planners
- Financial Quantitative Analysts
- Financial Services Brokers
- Forensic Accountants and Auditors
- Fraud Examiners, Investigators, and Analysts
- Investment Fund Managers
- Investment Professionals
- Investment Underwriters
- Loan Officers and Counselors
- Loan Underwriters
- Mortgage Bankers
- Private Bankers
- Regulatory Affairs Managers
- Regulatory Affairs Specialists
