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Loan Processors

Outlook

The Great Recession had a negative impact on the real estate industry. Fewer people could afford to purchase homes and new cars, and the number of loan request declined, prompting a commensurate drop in employment for loan processors. In recent years, the economy has bounced back and requests for loans of all types have increased—prompting improved career opportunities for loan processors. Those with advanced education, certification, and considerable experience will have the best job prospects. In the future, employment may slow as a result of the automation of some tasks performed by loan processors and industry consolidation.

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