Loan Officers
Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and payment methods. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, loan underwriters, and payday loan officers.
- O*NET-SOC code
13-2072.00 - Preparation Job Zone Four: Considerable Preparation Needed
Wages
Median annual wage, U.S.$76,690
Employment, U.S.274,330
Median hourly wage$36.87
| 10th | 25th | Median | 75th | 90th |
|---|---|---|---|---|
| $39,430 | $52,730 | $76,690 | $104,080 | $153,180 |
By state (51)
| State | Employment | Median annual | Location quotient |
|---|---|---|---|
| Alabama | 5,050 | $66,710 | 1.35 |
| Alaska | 490 | $72,800 | 0.86 |
| Arizona | 10,020 | $62,160 | 1.75 |
| Arkansas | 2,610 | $70,260 | 1.14 |
| California | 25,790 | $81,770 | 0.80 |
| Colorado | 3,230 | $94,520 | 0.64 |
| Connecticut | 2,220 | $95,730 | 0.74 |
| Delaware | 1,420 | $83,130 | 1.66 |
| District of Columbia | 370 | $92,890 | 0.30 |
| Florida | 18,830 | $71,090 | 1.07 |
| Georgia | 9,540 | $68,490 | 1.11 |
| Hawaii | 980 | $63,740 | 0.88 |
| Idaho | 2,030 | $71,070 | 1.34 |
| Illinois | 10,890 | $79,150 | 1.01 |
| Indiana | 4,790 | $72,960 | 0.85 |
| Iowa | 2,840 | $83,670 | 1.03 |
| Kansas | 3,540 | $86,970 | 1.40 |
| Kentucky | 3,940 | $62,090 | 1.12 |
| Louisiana | 2,810 | $61,110 | 0.82 |
| Maine | 1,060 | $81,900 | 0.93 |
| Maryland | 3,850 | $73,580 | 0.79 |
| Massachusetts | 4,470 | $101,600 | 0.70 |
| Michigan | 11,340 | $74,470 | 1.46 |
| Minnesota | 6,430 | $95,170 | 1.24 |
| Mississippi | 3,450 | $60,260 | 1.68 |
| Missouri | 7,050 | $73,660 | 1.36 |
| Montana | 1,180 | $71,570 | 1.31 |
| Nebraska | 2,710 | $79,840 | 1.50 |
| Nevada | 2,580 | $64,500 | 0.94 |
| New Hampshire | 1,120 | $80,660 | 0.93 |
| New Jersey | 6,200 | $92,920 | 0.82 |
| New Mexico | 1,140 | $62,610 | 0.74 |
| New York | 10,840 | $95,710 | 0.63 |
| North Carolina | 10,700 | $75,920 | 1.23 |
| North Dakota | 1,370 | $84,650 | 1.81 |
| Ohio | 9,880 | $76,370 | 1.01 |
| Oklahoma | 4,100 | $72,990 | 1.36 |
| Oregon | 4,220 | $94,440 | 1.22 |
| Pennsylvania | 8,140 | $69,300 | 0.76 |
| Rhode Island | 1,290 | $77,250 | 1.45 |
| South Carolina | 4,140 | $63,220 | 1.02 |
| South Dakota | 1,820 | $79,920 | 2.26 |
| Tennessee | 6,510 | $62,800 | 1.13 |
| Texas | 21,200 | $66,370 | 0.85 |
| Utah | 3,990 | $59,440 | 1.30 |
| Vermont | 350 | $88,710 | 0.64 |
| Virginia | 8,790 | $78,320 | 1.21 |
| Washington | 6,040 | $80,120 | 0.96 |
| West Virginia | 1,290 | $57,580 | 1.04 |
| Wisconsin | 4,940 | $78,290 | 0.95 |
| Wyoming | 740 | $79,620 | 1.50 |
Similar occupations
Similarity is our measure: the cosine of importance x level over all 120 O*NET skills, knowledge areas and abilities. It is not an O*NET finding. More.
Circles are the 20 most similar occupations, coloured by Job Zone. Lines join pairs where one is among the other's 10 most similar; darker lines are pairs O*NET also lists as related. Drag a circle to move it out of the way; select one to open it.
| # | Occupation | Job Zone | Similarity |
|---|---|---|---|
| 1 | Insurance Underwriters | 4 | 0.975 |
| 2 | Insurance Sales Agents | 4 | 0.972 |
| 3 | Loan Interviewers and Clerks | 3 | 0.972 |
| 4 | Securities, Commodities, and Financial Services Sales Agents | 4 | 0.972 |
| 5 | Personal Financial Advisors | 4 | 0.972 |
| 6 | Financial Managers | 4 | 0.966 |
| 7 | Brokerage Clerks | 3 | 0.966 |
| 8 | New Accounts Clerks | 3 | 0.965 |
| 9 | Fundraisers | 4 | 0.963 |
| 10 | Credit Authorizers, Checkers, and Clerks | 1-2 | 0.963 |
One skill away
Among the 50 occupations most similar to Loan Officers, those at the same Job Zone or lower, where exactly one skill rated at least 3 in importance needs a level more than 0.75 points higher (on O*NET's 0-7 level scale). Our definition. Change the thresholds.
| Occupation | Skill to build | Level gap | Similarity |
|---|---|---|---|
| Insurance Sales Agents | Persuasion | 0.88 | 0.972 |
| Claims Adjusters, Examiners, and Investigators | Monitoring | 0.88 | 0.960 |
| Credit Counselors | Systems Evaluation | 0.87 | 0.960 |
| Eligibility Interviewers, Government Programs | Social Perceptiveness | 0.88 | 0.949 |
| Credit Analysts | Mathematics | 1.00 | 0.940 |
Software to learn next
Software used by at least 3 of the 20 occupations most similar to Loan Officers, excluding software Loan Officers already lists and any you named. Ranked by how many of them use it, weighted by how much more common it is among them than across all occupations (lift). Our ranking.
| Software | Similar jobs using it | Lift |
|---|---|---|
| Tax compliance property tax management software | 4 of 20 | 46.2x |
| Sage 50 Accounting | 7 of 20 | 7.7x |
| Fund accounting software | 6 of 20 | 7.7x |
| Healthcare common procedure coding system HCPCS | 6 of 20 | 6.9x |
| Intuit TurboTax | 3 of 20 | 46.2x |
| Salesforce software | 8 of 20 | 4.2x |
| Microsoft Dynamics GP | 6 of 20 | 5.7x |
| Document management system software | 4 of 20 | 11.5x |
| Alteryx software | 3 of 20 | 17.3x |
| Medical procedure coding software | 5 of 20 | 5.1x |
Skills
From O*NET data. Importance is rated 1 to 5 and level 0 to 7.
| Skill | Type | Importance | Level |
|---|---|---|---|
| Active Listening | Essential skill | 4.00 | 4.00 |
| Speaking | Essential skill | 4.00 | 4.00 |
| Reading Comprehension | Essential skill | 3.88 | 4.00 |
| Judgment and Decision Making | Transferable skill | 3.88 | 3.88 |
| Critical Thinking | Essential skill | 3.75 | 4.00 |
| Writing | Essential skill | 3.38 | 3.88 |
| Complex Problem Solving | Transferable skill | 3.25 | 3.12 |
| Mathematics | Essential skill | 3.25 | 3.12 |
| Social Perceptiveness | Transferable skill | 3.25 | 3.00 |
| Time Management | Transferable skill | 3.12 | 3.25 |
| Active Learning | Essential skill | 3.12 | 3.12 |
| Service Orientation | Transferable skill | 3.00 | 3.50 |
| Coordination | Transferable skill | 2.88 | 3.00 |
| Monitoring | Essential skill | 2.88 | 3.00 |
| Negotiation | Transferable skill | 2.88 | 3.00 |
| Persuasion | Transferable skill | 2.88 | 3.00 |
| Instructing | Transferable skill | 2.88 | 2.75 |
| Learning Strategies | Essential skill | 2.75 | 2.62 |
| Management of Personnel Resources | Transferable skill | 2.62 | 2.88 |
| Systems Analysis | Transferable skill | 2.62 | 2.38 |
| Systems Evaluation | Transferable skill | 2.25 | 2.25 |
| Management of Financial Resources | Transferable skill | 2.12 | 1.25 |
| Management of Material Resources | Transferable skill | 2.00 | 1.12 |
| Operations Monitoring | Transferable skill | 1.88 | 0.88 |
| Technology Design | Transferable skill | 1.88 | 0.88 |
| Operations Analysis | Transferable skill | 1.75 | 1.38 |
| Programming | Transferable skill | 1.62 | 0.88 |
| Quality Control Analysis | Transferable skill | 1.50 | 0.62 |
| Operation and Control | Transferable skill | 1.25 | not rated |
| Equipment Maintenance | Transferable skill | 1.00 | not rated |
| Equipment Selection | Transferable skill | 1.00 | not rated |
| Installation | Transferable skill | 1.00 | not rated |
| Repairing | Transferable skill | 1.00 | not rated |
| Science | Essential skill | 1.00 | not rated |
| Troubleshooting | Transferable skill | 1.00 | not rated |
Knowledge (33) and abilities (52)
| Name | Importance | Level |
|---|---|---|
| Customer and Personal Service | 4.70 | 5.60 |
| Economics and Accounting | 3.86 | 4.17 |
| English Language | 3.77 | 3.77 |
| Mathematics | 3.69 | 4.20 |
| Sales and Marketing | 3.47 | 4.40 |
| Law and Government | 3.28 | 3.62 |
| Administration and Management | 3.14 | 3.82 |
| Education and Training | 2.87 | 3.35 |
| Administrative | 2.80 | 3.42 |
| Computers and Electronics | 2.76 | 3.55 |
| Personnel and Human Resources | 2.48 | 2.68 |
| Communications and Media | 2.33 | 2.28 |
| Production and Processing | 2.22 | 2.38 |
| Psychology | 2.13 | 2.12 |
| Public Safety and Security | 2.07 | 1.74 |
| Telecommunications | 1.68 | 0.89 |
| Sociology and Anthropology | 1.65 | 1.44 |
| Building and Construction | 1.64 | 1.07 |
| Foreign Language | 1.64 | 0.95 |
| Philosophy and Theology | 1.62 | 1.43 |
| Geography | 1.59 | 1.14 |
| Transportation | 1.54 | 1.05 |
| History and Archeology | 1.50 | 0.94 |
| Food Production | 1.49 | not rated |
| Therapy and Counseling | 1.37 | not rated |
| Engineering and Technology | 1.29 | not rated |
| Mechanical | 1.15 | not rated |
| Biology | 1.14 | not rated |
| Design | 1.09 | not rated |
| Physics | 1.05 | not rated |
| Chemistry | 1.03 | not rated |
| Medicine and Dentistry | 1.03 | not rated |
| Fine Arts | 1.01 | not rated |
| Name | Importance | Level |
|---|---|---|
| Oral Comprehension | 4.00 | 4.12 |
| Oral Expression | 4.00 | 4.12 |
| Written Comprehension | 4.00 | 4.00 |
| Near Vision | 3.88 | 4.50 |
| Written Expression | 3.88 | 4.00 |
| Speech Recognition | 3.75 | 4.00 |
| Deductive Reasoning | 3.75 | 3.88 |
| Inductive Reasoning | 3.75 | 3.88 |
| Speech Clarity | 3.75 | 3.62 |
| Problem Sensitivity | 3.75 | 3.50 |
| Number Facility | 3.25 | 3.50 |
| Mathematical Reasoning | 3.25 | 3.12 |
| Information Ordering | 3.12 | 3.12 |
| Category Flexibility | 3.00 | 3.00 |
| Fluency of Ideas | 3.00 | 2.62 |
| Selective Attention | 3.00 | 2.38 |
| Flexibility of Closure | 2.75 | 2.38 |
| Perceptual Speed | 2.25 | 2.12 |
| Time Sharing | 2.25 | 2.12 |
| Originality | 2.12 | 2.50 |
| Speed of Closure | 2.12 | 2.12 |
| Auditory Attention | 2.12 | 1.75 |
| Far Vision | 2.12 | 1.50 |
| Memorization | 2.00 | 2.00 |
| Finger Dexterity | 2.00 | 1.62 |
| Visual Color Discrimination | 2.00 | 1.12 |
| Arm-Hand Steadiness | 2.00 | 1.00 |
| Manual Dexterity | 2.00 | 1.00 |
| Hearing Sensitivity | 1.88 | 1.12 |
| Visualization | 1.88 | 1.12 |
| Control Precision | 1.88 | 0.88 |
| Depth Perception | 1.50 | 0.50 |
| Trunk Strength | 1.38 | 0.62 |
| Dynamic Strength | 1.25 | not rated |
| Wrist-Finger Speed | 1.12 | not rated |
| Dynamic Flexibility | 1.00 | not rated |
| Explosive Strength | 1.00 | not rated |
| Extent Flexibility | 1.00 | not rated |
| Glare Sensitivity | 1.00 | not rated |
| Gross Body Coordination | 1.00 | not rated |
| Gross Body Equilibrium | 1.00 | not rated |
| Multilimb Coordination | 1.00 | not rated |
| Night Vision | 1.00 | not rated |
| Peripheral Vision | 1.00 | not rated |
| Rate Control | 1.00 | not rated |
| Reaction Time | 1.00 | not rated |
| Response Orientation | 1.00 | not rated |
| Sound Localization | 1.00 | not rated |
| Spatial Orientation | 1.00 | not rated |
| Speed of Limb Movement | 1.00 | not rated |
| Stamina | 1.00 | not rated |
| Static Strength | 1.00 | not rated |
Software used
Examples from O*NET data. "Hot" and "in demand" are O*NET flags for technologies often listed in job postings.
- Microsoft Excel in demand
- Microsoft Office software in demand
- Microsoft Outlook in demand
- Microsoft Access hot
- Microsoft PowerPoint hot
- Microsoft Word hot
- Oracle PeopleSoft hot
- SAP software hot
- Zoom hot
- 1003 Uniform Residential Loan Application
- Amortization loan software
- Bankers Systems Rembrandt Lending System
- Bottom Line LoanMaster Loan Servicing
- CGI-AMS BureauLink Enterprise
- CGI-AMS CACS Enterprise
- CGI-AMS Strata
- California Infinite LPS
- Calyx Point
- Click1003 Online Mortgage Application
- Common business oriented language COBOL
- Credit and risk analysis software
- Credit fraud detection software
- Credit underwriting software
- Customer information control system CICS
- Datatel Colleague
- Delphi Discovery
- Dun and Bradstreet Global DecisionMaker
- Dynamic Loanledger
- EDExpress
- ELM Resources ELM
All 88
- EMT Applications CounselorMax
- Ellie Mae Contour
- Ellie Mae Genesis
- Equifax Advanced Decisioning
- Equifax Application Engine
- Equifax InterConnect
- Experian Credinomics
- Experian Detect
- Experian FraudShield
- Experian Quest
- Experian Retention Triggers
- Experian Strategy Management
- Experian Transact SM
- FAS Loan Service Plus
- Fair Isaac Application Risk Model Software
- Fair Isaac Capstone Decision Manager
- Fair Isaac Falcon ID
- Fannie Mae Desktop Underwriter
- FileMaker Pro
- Financial Industry Computer Systems Loan Accountant
- Financial Industry Computer Systems Loan Originator
- Financial Industry Computer Systems Loan Producer
- Financial aid management system FAM
- Freddie Mac Loan Prospector
- Harland Financial Solutions DecisionPro
- Harland Interlinq MortgageWare
- IA Systems StreamLend
- IBM Notes
- Indus Lending Solutions
- Integra Destiny Loan Origination
- LA PRO Loan Administrator Pro
- LexisNexis
- Loan application processing software
- Loan origination software
- Microsoft Dynamics
- Microsoft Internet Explorer
- Moody's KMV CreditEdge
- Moody's KMV Decisions
- Moody's KMV Financial Analyst
- Moody's KMV Risk Advisor
- Moody's KMV Risk Analyst
- Opportunity management system OMS
- Plimus Loan Artist
- QuikDraw Loan Management System
- RealBenefits Amortization Loan
- Student information systems SIS software
- SunGard Higher Education Banner Financial Aid
- Sungard Higher Education PowerFAIDS
- Tax software
- Technicost LOS
- The Mortgage Office Loan Origination
- The Mortgage Office Loan Servicing
- VueCentric MortgageDashboard
- Web browser software
- White Clarke North America Credit Adjudication and Lending Management
- Wolters Kluwer Financial Services ComplianceOne
- eCredit Enterprise
- eOriginal eCore Business Suite
Where it concentrates
Metro areas ranked by BLS location quotient: the occupation's share of the area's jobs divided by its share of all US jobs. Above 1 means more concentrated than the nation. Metros employing fewer than 100 are left out.
| Metro area | Employment | Location quotient | Median annual |
|---|---|---|---|
| Pocatello, ID | 250 | 3.73 | $80,210 |
| Hattiesburg, MS | 300 | 2.77 | $58,560 |
| Charlottesville, VA | 480 | 2.36 | $60,610 |
| Columbia, MO | 450 | 2.36 | $81,850 |
| Pensacola-Ferry Pass-Brent, FL | 790 | 2.36 | $65,030 |
| Winchester, VA-WV | 280 | 2.32 | $63,320 |
| Owensboro, KY | 200 | 2.24 | $58,730 |
| Sioux Falls, SD-MN | 690 | 2.18 | $81,380 |
| Detroit-Warren-Dearborn, MI | 7,200 | 2.14 | $76,260 |
| Cheyenne, WY | 170 | 1.99 | $64,050 |