What is a bank loan officer and what do they do?

A bank loan officer is an employee of a bank or credit union who helps borrowers apply for loans, often mortgages. The officer gathers and verifies the applicant's financial information, explains loan types and terms, and passes the file to the institution's underwriter, who makes the approval decision. Under the SAFE Act, loan originators employed by banks and credit unions register federally through NMLS rather than obtaining a state license.

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