OCCUPATION: LOAN OFFICERName: A.J. JosiahCompany: Great Western...

OCCUPATION: LOAN OFFICER

Name: A.J. Josiah

Company: Great Western Bank, Anaheim Hills

Thumbs up: “I like helping people meet their home-loan needs--especially the first-time buyers and move-up buyers who are finally able buy their dream house. When you see that person smile, that’s what brings the greatest satisfaction. Knowing that you have positively affected someone’s life.�

Thumbs down: “Sometimes it’s difficult to convey to a prospective client that they should look at the overall loan package, as opposed to just focusing on what appears to be the lowest (interest) rates. Often consumers are quoted artificially low rates; by the time they’re ready to fund the loan, the rate suddenly becomes much higher because there may be hidden costs that were not disclosed up front.�

Next step: “From my position there’s no defined career path. But someday, maybe, I’d like to become a small-business owner, and provide a meaningful service to my clients.�

Advice: “You have to be persistent and patient. In the halcyon days of the ‘80s, people were more optimistic about the economy and were willing to make home purchases; in the ‘90s people are concerned about their jobs and the economy, and consequently we are operating in a more challenging marketplace. Most importantly, you have to be willing to work with people to help them arrive at their goals of home ownership.�

Salary range: In Orange County, between $17,000 and $150,000 yearly, all or part of which can be based on commission.

Hours: Usually 40-hour workweek, though evening and weekend appointments are often arranged for the convenience of clients.

Educational and training requirements: Most loan officers employed by mortgage brokerage firms to solicit or negotiate real estate loans are required to have a real estate sales license; the license may not be required when working for larger banks or savings institutions.

Size of work force: Medium. In Orange County, about 3,000 people, or 0.3% of the labor force, work as loan officers.

Expected demand: Growing, as financial institutions expand to meet the needs of a growing population, the economy and the challenges of deregulation.

Job description: Review and evaluate loan requests and authorize or recommend approval or denial of commercial, corporate or consumer loans; loan officers also canvass for new accounts. Major employing industries: Mortgage banking firms, banks and thrifts.

For more information: Call the California Department of Real Estate, weekdays between 8 a.m. and 5 p.m.: (916) 739-3758.