Mortgage Banker vs. Loan Officer

A mortgage banker works on the borrower's behalf to find the best rate and loan options from multiple institutions. On the other hand, a loan officer works for a bank, credit union, or financial institution and will offer programs or rates that are available from that institution only.

Mortgage Banker vs. Mortgage Broker

A mortgage banker is someone who underwrites, approves, and closes loans for borrowers, while a mortgage broker is someone who brings mortgage borrowers and mortgage lenders together. After closing a loan mortgage, bankers then may sell the loan to retail banks, investment firms, or agencies. Mortgage bankers operate as a one-stop shop for mortgages. Mortgage bankers focus solely on mortgage lending without the distraction of other lending products or personal finance services.

How To Become A Mortgage Banker: What It Is and Career Path

What is a mortgage banker and how to become one

Updated January 8, 2025

4 min read

A Mortgage Banker is a banking professional who specializes in mortgage products. They are usually responsible for helping customers find suitable mortgage loan products and guiding them through the mortgage application process. Mortgage bankers mostly work for banks, credit unions, mortgage companies, and other institutional lenders.

Mortgage Bankers are the first point of contact for potential home buyers. It is also their duty to attract new customers, gather client's financial information, perform financial analysis to establish client's creditworthiness, and constantly communicate with clients.

In all that they do, Mortgage Bankers are required to protect the bank's interest at all times. A mortgage banker works very closely with a credit analyst who verifies and recommends the mortgage product.

A Mortgage Banker typically works 40 hours a week, from 9 - 5. On certain occasions, he/she or she may be required to attend realty meetings that take place over the weekends.

ScoreMortgage BankerUS Average

Salary

2.1

Avg. Salary $27,331

Avg. Salary $59,228

Stability Level

7.3

Growth Rate 4%

Growth Rate 0.3%

Diversity

5.5

Race

American Indian and Alaska Native 0.48%

Asian 6.54%

Black or African American 9.49%

Hispanic or Latino 15.68%

Unknown 4.65%

White 63.16%

Gender

female 28.33%

male 71.67%

Age - 44

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 44

Stress Level

7.3

Stress level is high

7.1 - high

Complexity Level

8.8

Complexity Level is advanced

7 - challenging

Work Life Balance

5.6

Work Life balance is fair

6.4 - fair

Newest jobs for Mortgage Banker in Columbus, OH

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Key steps to become a mortgage banker

Explore mortgage banker education requirements

Most common mortgage banker degrees

Bachelor's

72.0 %

Associate

12.1 %

Master's

7.2 %

Start to develop specific mortgage banker skills

Skills	Percentages
Customer Service	23.71%
NMLS	6.04%
Federal Regulations	5.43%
Bank Products	4.95%
Loan Programs	4.78%

Complete relevant mortgage banker training and internships

Accountants spend an average of 6-12 months on post-employment, on-the-job training. New mortgage bankers learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a mortgage banker based on U.S. Bureau of Labor Statistics data and data from real mortgage banker resumes.

Research mortgage banker duties and responsibilities

Coach new Jr. HMC's, lead team Jr. meetings and activities.
Establish residential and commercial lending relationships, telephone loan origination of conventional and non-conventional mortgage products to include VA/FHA options.
Register with NMLS to sell mortgage products
Initiate the stabilization of client relationships and leverage cross-selling and promotional opportunities.

Prepare your mortgage banker resume

When your background is strong enough, you can start writing your mortgage banker resume.

You can use Zippia's AI resume builder to make the resume writing process easier while also making sure that you include key information that hiring managers expect to see on a mortgage banker resume. You'll find resume tips and examples of skills, responsibilities, and summaries, all provided by Zippi, your career sidekick.

Choose From 10+ Customizable Mortgage Banker Resume templates

Build a professional Mortgage Banker resume in minutes. Browse through our resume examples to identify the best way to word your resume. Then choose from 10+ resume templates to create your Mortgage Banker resume.

Apply for mortgage banker jobs

Now it's time to start searching for a mortgage banker job. Consider the tips below for a successful job search:

Browse job boards for relevant postings
Consult your professional network
Reach out to companies you're interested in working for directly
Watch out for job scams

How do mortgage bankers rate their job?

-/5

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Mortgage Banker reviews

A zippia user wrote a review on Mar 2022

Pros

Helping People, secure a better financial future

Cons

Having to Decline applicants

A zippia user wrote a review on Oct 2019