A loan officer acts as the bridge between a financial institution that provides personal and business loans to the borrowers. A good mortgage professional always make sure that the loan arrangement is in the best interests of both the applicant and the bank or financial institution that has extended the loan.
A loan officer is some times called as “loan counselor” or a “lending officer” too. Every successful mortgage specialist has command over various aspects related to loans. A comprehensive product knowledge is a must along-with sound marketing and communication skills. Competent loan officer will also have a complete working knowledge of the requirements or conditions that are necessary for applicants to successfully qualify for each type of loan. He’ll also has the latest information on any upcoming promotional specials on loans, including any special interest rates that are extended for only a short period of time.