Without a loan, most individuals would never be able to afford large purchases like a home, automobile, or higher education.  In addition, most small businesses would never get off the ground.  Loan Officers help individuals and businesses in the loan application process.  They collect client information, and assess their credit and ability to repay the loan.  A typical career path may include sales (loan officer), support (processing and closing), credit approval (underwriter), and supervisory/management. 

It is recommended that individuals with no mortgage industry experience take Intro to Mortgage Lending (MTG 7314).  Not all mortgage banking positions require a license and this course offers a good overview of the industry.  Currently a Loan  Officer is the only position which requires licensure.  After this course, students may choose their own path based on career interest.  

Fundamentals for Loan Officers:

Individuals interested in becoming a mortgage loan officer should be interested in sales.  Loan Officers establish relationship with Real Estate Agents and start the loan process by finding borrowers.  They are responsible for meeting with borrowers to determine which product best fits their clients needs.  Loan officers must be licensed in North Carolina, unless exempt. (some banks and lending institutions are exempt from this requirement). 

Individuals interesed in becoming a loan officer, must take an approved Fundamentals for Loan Officer (MTG 7325) course, pass a state exam and submit an application to the NC Commissioner of Banks for approval.  

For additional information on licensing requirements, visit the NC Commissioner of Banks website.