Mortgage Bankers

Employment for loan officers and counselors is expected to grow about faster than the average for all occupations through 2028, according to the U.S. Department of Labor (DOL). The growth of online and mobile banking and increased use of technology in the loan processing system may temper employment growth to some degree, as more brick-and-mortar bank branches closes. During times of economic growth, however, individuals and businesses will need credit to fund their personal expenditures and commercial investments. Mortgage bankers and loan officers will be needed to review and determine the creditworthiness of applicants to make sure the loans will be paid off according to the agreed terms. The DOL says that “job opportunities should be good for those with lending, banking, or sales experience. In addition, some firms require loan officers to find their own clients, so candidates with established contacts and a referral network should have the best job opportunities.”