Essay about Loan Officer: Helping to Build a Better World

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One of the most important decisions that any high school student or young adult has to make is deciding what they want to spend the rest of their life doing. Coming into this year I didn't have a clue what I wanted to have as my career. Obviously everybody has their dream job, mine being a pro basketball player overseas, but everybody needs a backup plan if their dreams do not pan out. Recently, I started researching certain careers and taking tests ,such as the WISCareers interest inventory, to decide what career would fit my interests the best. After all the tests and research, I came to the conclusion that becoming a loan officer was what suited me and my interests the best("WISCareers")."Loan officers evaluate, authorize, or …show more content…
The loan officer explains all of the different types of loans, and then he explains the details surrounding each loan to the applicant. After the loan officer explains the types of loans, the loan officer checks the applicants financial information. The loan officer then will analyze and evaluate the finances of the applicant to determine if the applicant is allowed to get a loan. The last thing the loan officer will do is approve the loan application, or if they are undecided will refer the application to management and they will make a decision. The duties a loan officer performs are very important and getting them done in a timely matter is very important("Bureau of Labor Statistics") There are five common types of loan officers: commercial loan officer, consumer loan officer, mortgage loan officer, loan collection officer, and loan underwriter. A commercial loan officer mainly gives out loans to businesses. Commercial loans are bigger and more complex than the other types of loans. Commercial loan officers have to have good human judgement. If a commercial loan is to be issued, commercial loan officer must work with multiple banks, that way they can get enough money to pay for the large loan. Unlike a commercial loan officer, a consumer loan officer gives loans to people, they are used for college tuition and buying cars. Consumer loan

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