Because loans are the major source of income for banks, loan officers are important to the success of their organizations. College graduates and those with banking or lending experience should have the best job prospects. Preparation Most loan officer positions require a bachelor's degree. The degree should be in finance, economics, or a related field. However, for mortgage officers, training or experience in sales is more important.
Employers also prefer applicants who are familiar with computers.
Some loan officers work their way up through the ranks. They may have several years of work experience as a teller or customer service representative. Educational requirements vary for loan counselors. Some have a bachelors degree in economics, finance, or a related field. Accounting skills are very helpful.