Tag: Mortgage

Credit and Mortgage

How Can I Become a Mortgage Loan Officer?

mortgage loan

Have you ever thought about becoming a mortgage loan officer? It’s not as complicated as it sounds! Let’s discuss what exactly a mortgage loan officer is, how you can become one and what to expect in regards to job requirements and salary potential once you are ready to work.

What is a mortgage loan officer?

Mortgage loan officers are usually banking professionals that specialize in helping borrowers secure loans to either finance or refinance the mortgage on their home or business. A mortgage loan officer will meet with the prospective borrower, usually at a bank or their office, help evaluate their finances and borrowing potential. The way the the mortgage loan officer evaluates this is by running a credit score and report, their current and future income, employment status and general financial status. The purpose of all this is to make sure that the borrower is and will hopefully continue to be able to pay back any potential mortgage loan. Based on the information obtained, the mortgage loan officer will come up with an offer (in most, reasonable cases) that the borrower can decide whether or not to take.

What is required to become a mortgage loan officer?

To become a mortgage loan officer, you must have a minimum of a high school diploma. However, to have a real chance, you should have a bachelor’s degree (preferably in a field like economics or finance). Once hired, you’ll receive on the job training and well eventually be required to be licensed. This license requires about twenty hours of coursework and passing a written exam and background check. To stay up to date with your license, you’ll have to keep up with continuing education (or CE’s). You also can’t have any felonies and maintain your mortgage loan officer license.

What should I expect once I’m a mortgage loan officer?

The average salary for a mortgage loans officer is between $45,000 and $65,000 a year. The amount you’ll get paid depends on where you work and what the financial climate is, as obviously the housing market significantly affects how many mortgage loans officers are needed. As long as you are staying on top of your continuing education so that your license stays current, you should be able to keep your standing and not have to go back through mortgage loans officer training. After you’ve worked in the industry for awhile, you could also go on to own your own office and manage a team of mortgage loan officers. Most of the time, clients come to you but you should also be prepared to market yourself as well.

If you’re trying to figure out the right career for you and are looking into completing mortgage loans officer training, it’s good to know a little more about what all that entails and what you can expect after you complete it. Although it may vary with the economy, getting your mortgage loans officer license can be a great help in finding a future career in the industry!

Visit for detail: http://www.loanofficerlicense.net

Credit and Mortgage

Mortgage – 4 Signs of a Good Loan Officer

Loan Officer

A lot of people seeking business advice are hoping to find the perfect niche to ply their trade and make up a fortune. It makes sense. But I would venture to convey that a majority of businesses can make a lot of cash… now I hear you asking, “How do they make that cash?” It is probably not so much a matter of the product, the help of a loan officer, or perhaps even the market, although these play a big influence.

Even more than having the perfect product or market, business entrepreneurs seeking small business advice need to find the right methods and procedures to ensure their business succeeds.

Unfortunately, we’ve got grown to enjoy this niche for one reason and something reason only. M.O.N.E.Y. What else are we able to do and possess the freedom that we’ve enjoyed? What else are we able to do and make this kind of money? Before the Mortgage Crisis, My Joke was “I wonder how much cash I could make if I actually worked 6 hours a day”?

Now that the crisis remains to be here, it’s more about what kind of money can I make period… I’ll work 10 hours each day if I can only make half the amount of money we had been making before. It’s a sad state for those true mortgage professionals and loan officers around.

As a highly-experienced loan officer, I have dealt with many clients throughout Ohio, from Cincinnati to Columbus to Cleveland, the other thing I see frequently is that a lot of people have no idea what their credit history contains. Maybe an incorrect collection, or possibly a misreporting 30-day late with a charge card, or worse yet a judgment. Many credit issues might be resolved easily before ever trying to get a home loan. Thus, setting yourself up to get the best possible mortgage when the time comes.checkout more information at http://www.stjamesnews.com/news/20170125/wells-federal-bank-welcomes-new-loan-officer

When involved in a negotiation one of the worst strategies a person can have is negotiating from the position of weakness. Banks will have you believe that to acquire a loan from their website you must meet their very strict conditions. Don’t believe it.

The best thing a small company owner can do is explore all of their options. Do the research. Try to find the best offer open to you, if you do not possess time for you to perform the research there are numerous websites which will undertake it for you.

As long as you’re thorough and prudent you shouldn’t have happen what actually transpired for the person in the example at the beginning of this article.view this website http://www.loanofficerlicense.net

Loan OfficerThe process took for a week when suddenly the money officer went silent. My client called him and emailed him many times over a few days. I got involved and called and emailed, trying to determine what was going on. When I finally got him the officer rudely informed me they cannot do the money as a result of derogatory on my small client’s credit.

I asked for a lot of explanation and was told he wasn’t sure while he couldn’t understand the credit file and we must lose time waiting for it – in the future straight from the lender. My client was shocked as they knew of nothing on his credit that will negatively affect his loan. My client called and emailed and ultimately got a similar answer. If you have a similar story and need help, why not contact a loan officer today?…