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Employment: Loan Counselors and Officers




Loan counselors and officers together held about 255,000 jobs in 2002. The majority of this employment consisted of loan officers—nearly 88 percent—with the remaining 31,000 jobs being held by loan counselors. Approximately 40 percent of loan officers and counselors were employed by commercial banks, savings institutions, and credit unions. Mortgage and consumer finance companies employed an additional 33 percent. Loan officers are employed throughout the Nation, but most work in urban and suburban areas. At some banks, particularly in rural areas, the branch or assistant manager often handles the loan application process.