Loan officer job description template: mortgage, consumer or commercial, NMLS and the SAFE Act, pay and overtime

"Loan officer: help customers obtain loans" covers a retail mortgage loan officer working real estate agent referrals, a call-center mortgage officer taking refinance leads, a bank's consumer loan officer handling auto and personal loans in a branch, a commercial lender building relationships with business owners, and a construction loan specialist. BLS describes three main types, commercial, consumer and mortgage, and only one of them triggers the federal mortgage licensing system (BLS Occupational Outlook Handbook, last modified August 27, 2026). A useful loan officer job description says which loans, which channel, whether the person must already hold an NMLS license or registration, where leads come from, how pay works within the compensation rules, and who processes and underwrites the file. Below are the seat types, the licensing, compensation and classification lines with sources, a copy-ready template, screening and scorecard rows, and common mistakes. For mortgage seats, use the mortgage loan officer screening questions for the first call.

Name the seat: loan type, channel and lead source

Settle before writing: loan types and programs, channel, states served, whether the employer is a bank (federal registration) or a nondepository lender (state licensing), whether a license is required at hire or sponsored, lead sources, pricing authority, who processes and underwrites, and the pay plan. For the people who take the file after application, see the loan processor screening questions and the underwriter job description template.

Licensing, compensation and classification lines, with sources

Licensed or registered. NMLS explains that mortgage loan originators who work for an insured depository institution or its owned or controlled subsidiary regulated by a federal banking agency, or for an institution regulated by the Farm Credit Administration, are registered, and all other originators are licensed by the states (NMLS federal registration requirements). Under the SAFE Act, a state license requires, among other things, that the applicant has never had a loan originator license revoked, has no felony conviction in the prior seven years and no felony involving fraud, dishonesty, breach of trust or money laundering at any time, shows financial responsibility, character and general fitness, completes at least 20 hours of pre-licensing education and passes a written test (12 U.S.C. 5104). NMLS lists the 20 hours as 3 hours of federal law, 3 of ethics, 2 on nontraditional mortgage lending and 12 of electives, a SAFE test score of 75 percent or better, and at least 8 hours of continuing education each year (NMLS SAFE Act education requirements). States may require more.

Screening registered originators. For originators who are not required to be licensed, Regulation Z requires the employing loan originator organization to obtain a criminal background check, a credit report and NMLS information, apply the same seven-year and fraud-related felony standards and the financial responsibility, character and fitness standard, and provide periodic training (12 CFR 1026.36(f)). Run any background check through the FCRA steps in the FCRA background check process.

Compensation. With listed exceptions, no loan originator may receive, and no person may pay, compensation based on a term of a transaction or a proxy for one (12 CFR 1026.36(d)(1)). Describe mortgage pay in permitted terms such as loan volume, and have counsel review the plan.

Exempt or nonexempt. The Department of Labor's Administrator's Interpretation 2010-1 concluded that employees who perform the typical duties of a mortgage loan officer have a primary duty of making sales and generally do not qualify for the administrative exemption; it is listed on the Department's site without a withdrawal note as of October 2026. A loan officer whose primary duty is selling while customarily and regularly away from the employer's places of business may fit the outside sales exemption, which has no salary test, but phone and internet sales do not count and a home office is treated as an employer place of business (DOL Fact Sheet 17F). Commercial lenders who advise businesses on financing need their own review against the administrative test and the $684 a week salary level.

The loan officer job description template

[Mortgage / Consumer / Commercial] Loan Officer, [Retail /
Consumer-Direct / Branch / Relationship Banking]
[Company], [city, state] — [In office / Hybrid: days / Field:
territory], lending in [states]
Pay: [base $N–$N per year / hourly $N–$N] plus [incentive: how it
is calculated, in terms the compensation rules permit], paid
[frequency]. [Benefits summary, if required.] [Exempt or
non-exempt, after review.]

SUMMARY
You will originate [loan types and programs] for [client type],
with leads from [agent and builder referrals / inbound calls and
online leads / branch referrals / your own prospecting]. Files go
to [processing / underwriting / credit] at [team or location].
You will report to [title].

WHAT YOU WILL DO
- Take applications and gather documents; explain programs,
  costs and timelines in plain language.
- [Issue pre-approvals and manage rate locks within our pricing
  policy.] / [Analyze financials and write credit memos.]
- Keep borrowers, agents and partners updated through closing.
- Build referral relationships with [agents, builders, CPAs,
  branch staff].
- Follow fair lending, disclosure and privacy rules on every file.

YOU MUST HAVE
- [Active NMLS license in (states) / NMLS federal registration /
  ability to qualify for licensing within (N) days with our
  sponsorship.] [Mortgage seats only.]
- [N] years of [lending / sales / credit] experience.
- Accurate, timely communication with borrowers and partners.

NICE TO HAVE
- Experience with [loan origination system], [programs].
If you meet the must-haves and none of these, please apply.

FIXED CONDITIONS
- [NMLS licensing or registration requirements, including
  criminal background and credit checks, after a conditional
  offer where required.]

HOW WE HIRE
[Recruiter screen; conversation with (sales manager); a role-play
explaining two loan options to a borrower; meeting the processing
team.]

[EEO STATEMENT]
Need an adjustment to apply or interview? Contact [address].

Post the base or hourly range and the incentive mechanics where required (check your state pay transparency rules), and close with a short EEO statement and an accommodation contact. This page does not quote pay figures; BLS publishes them in the profile linked above.

From must-haves to screening questions and scorecard rows

The later rounds are in the interview guide for banking roles, the first months in the 30-60-90 day plan for loan officers, and sourcing strings in the boolean search strings for loan officers.

Common mistakes in loan officer job descriptions

"Loan officer" with no loan type

Mortgage, consumer and commercial lending need different skills and different licenses. Name the loans.

Licensing left vague

Say whether the seat is state-licensed or federally registered, and whether you sponsor licensing.

Pay tied to loan terms

"Earn more on higher-rate loans" is not allowed for mortgage originators. Describe permitted mechanics only.

Assuming salaried exempt

Typical mortgage loan officers are generally not administratively exempt. Review inside seats carefully.

Hiding the lead source

Producers choose jobs on leads. Say whether you provide them, how many and of what kind.

Before you publish

• Loan types, channel, states and lead sources are in the summary.
• The NMLS line says licensed or registered, at hire or sponsored.
• Incentive mechanics are stated in terms counsel has approved.
• Classification has been reviewed against AI 2010-1 and the outside sales test.
• The EEO statement and an accommodation contact close the posting.