I am thinking about a career in mortgages. I have no experience in this area and I was wondering if anyone could tell me the best way to get in this field. Also, if anyone can tell me what exactly does a mortgage originator do? I would appreciate it.
2007-03-20 13:09:15 · 6 answers · asked by mead1973 3 in Business & Finance ➔ Careers & Employment
Your responsibilities as a mortgage professional can vary widely, depending on what company you work for.
Here is a general list of what makes a good mortgage professional:
* strong knowledge of the mortgage industry and what affects rates and real estate trends
* honest (or you'll be out business quickly)
* understanding of wall street and the financial industries
* financial counselor for your clients (if you don't get them the best deal possible, they will never come back)
* organizational skills (you better be organized or your clients will lose faith in you and find someone else).
I wouldn't worry about not having experience. Many companies, including Quicken Loans (where I work) will provide all necessary training before you start originating loans and keep you up-to-date on trends in the mortgage industry.
I can make this easy for you. Quicken Loans is hiring in the Detroit area, Cleveland area, and in Scottsdale, Arizona. We have several openings, so if you are interested, look at the website below.
Good luck and I hope your career in mortgages is as rewarding as mine has been!
2007-03-22 12:27:58 · answer #1 · answered by Quicken Loans 5 · 0⤊ 0⤋
A mortgage originator is a loan officer. If you work out of a call center, you have people who call in for mortgages. If you do not, you have to go out on your own to find business usually through befriending realtors and word of mouth. It can sometimes be hard to get started.
2007-03-20 20:14:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Go interview a mortgage broker. Pick a time when s/he is not busy. I'm sure you will get some great insight into the Profession and possible options for your next step.
Good Fortune to You!
2007-03-20 20:13:35 · answer #3 · answered by smiling_freds_biz_info 6 · 0⤊ 0⤋
This is not a good choice right now. There are a lot of out of work morgage brokers, and the number is growing daily. Unless you have some really good connections you are not going to have an easy time getting one client, let alone enough to make a decent living.
2007-03-20 20:53:44 · answer #4 · answered by Anonymous · 0⤊ 0⤋
a four year degree in anything - think again tho - look at the housing market right now - most mortgage brokers make commision only and if interest rates go up people will be less likely to buy or refinance - therefore you will be broke
2007-03-20 20:31:02 · answer #5 · answered by wade b 1 · 0⤊ 0⤋
This is a great industry. You can make lots of money. I can get you into our company as I am actively seeking new recruits to train. We provide all the training and you can earn a six-figure income (minimum expected earnings) within a very short period of time if you are willing to work hard. Email me for more info: gandalf_o@yahoo.com
2007-03-22 23:19:04 · answer #6 · answered by Mortgage Expert 1 · 0⤊ 0⤋