Mortgage Bankers

Employers

There are approximately 316,200 loan officers (including those who specialize in mortgages) in the United States. They primarily work for commercial banks, savings institutions, credit unions, and mortgage and consumer finance companies. Opportunities are available throughout the country, but are best in large cities.

Starting Out

Many mortgage bankers break into the field after first obtaining experience in lower-level mortgage positions, including mortgage associate. Participating in an internship or co-operative educational experience is a good first step to getting a full-time position. Many banks provide information on such programs at their Web sites. Others enter the field after working as mortgage brokers.

The Mortgage Bankers Association’s Career Center (https://www.mba.org/conferences-and-education/mba-education/mba-career-center) is an excellent resource for prospective and current mortgage bankers. Those who register at the Web site can create a profile, search for job openings, receive job alerts, and get tips on the job search. The association also offers virtual and in-person career fairs.

Other job-search strategies include utilizing the services provided by one’s college career center, attending job fairs on campus, working with recruiters, and networking on LinkedIn and other social media sites.