Question:

How big is the mortgage loan officer average salary?

Answer:

Current mortgage loan officer average salary is calculated to be around $65,000 on average. However, loan officer remuneration depends to a great extent on state, industry, employer's size, employee experience, track of successful history, etc. Also, mortgage loan officer average compensations for all levels seem to be one-third higher than the remuneration in other job occupations.

Different loan officer job related positions are paid with great variation. For example, positions of mortgage loan officer originator, loan officer assistant and junior loan officer can pay as low as $22,000, while a mortgage loan officer and a mortgage specialist can have an average salary of $150,000.

In general, mortgage loan officer salary depends on the loan officer experience and level of expertise. Loan officers are often required by their employers to attend specialized educational courses on ongoing basis.

The projected growth of mortgage loan officer jobs until 2014 is expected to be below the average. Even though the amount of loan applications is increasing on the whole, computerized underwriting has helped even reduce workload for mortgage loan officers and hence the expected below average mortgage loan officer jobs growth.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 2.8/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Definitely
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: