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California Mortgage Broker: The Basics
from: Deb St. George - HomelessInKingCounty.comSo many people want to move to California. Can you blame them? the weather is near perfect there. There are also a lot of great big cities that have cool attractions. As an added bonus, there are fun beaches and sunny coasts. What's not to like about California? Since this state is such a popular one, people move there all the time. And when there is a boom in house buying, there is also a boom in the need for mortgage brokers. If you live in California, you may want to consider becoming a California mortgage broker. This profession is in high demand. It is also highly lucrative for people who are good at it.
California mortgage brokers are responsible for being an intermediary between lending companies and prospective home buyers. People contact mortgage brokers when they need help finding the right home loan. This is hard to do on your own because there are so many mortgage companies and loan products out there to choose from. Not only that; but California mortgage brokers will often know loopholes and secret ways to get people more money for their home.
In order to be a good broker, you need to be able to work with people. You will find yourself talking to people all day, both face to face and over the phone. Because of this, people who don't like direct communication with others should avoid becoming a California mortgage broker. Otherwise, you should be a good fit. Also, since you would need to fill out a lot of forms, online and in print, you should be okay with this kind of busywork. If you are good at both of these aspects, then you would likely make a great mortgage broker.
In order to actually become a mortgage broker, you need to go through a few steps. The first step involves education. The state of California requires that all mortgage brokers receive a license. In order to do that, you need to first take some courses. These courses teach you everything that you need to know in order to succeed at this job. Make sure that the classes you take are good and relevant.
All that is left to stand in your way is the licensing exam. This tests you on everything that you should have learned in your courses. If you pass, you will then receive your California mortgage broker license. With this, you will be able to start your very own brokerage business. You will find that in time, you can become very successful at this job, and potentially make a lot of money.
Mortgage Broker News
Citi Becomes Latest Bank to Cut Off Mortgage Brokers - Wall Street Journal (blog)
Citi Becomes Latest Bank to Cut Off Mortgage Brokers Wall Street Journal (blog) AP Citi wants to focus on making mortgages through its own retail distribution network, including bank branches. By Matthias Rieker Citi put another nail in the coffin of the mortgage brokerage business: It will stop originating home loans through ... |
Real estate agent, mortgage broker found guilty of fraud - Legal News Line
Real estate agent, mortgage broker found guilty of fraud Legal News Line BY MICHAEL P. TREMOGLIE LAS VEGAS (Legal Newsline) -- A Las Vegas real estate agent and a mortgage broker have been found guilty in a scheme that netted them nearly $2.5 million in fraudulent loans. After a seven-day federal trial in Las Vegas, ... Las Vegas Real Estate Agent and Mortgage Broker Convicted for Their Roles in ... |
Mortgage broker indicted on theft charge - phillyBurbs.com
Mortgage broker indicted on theft charge phillyBurbs.com MOUNT HOLLY — A Camden County mortgage broker was indicted on charges that she took money to refinance a home but never followed through with the deal. A Burlington County grand jury returned the indictment against Jaffa F. Stein, 57, of Cherry Hill, ... |
Citigroup To Cease Using Mortgage Brokers - Mortgageorb
 Bloomberg | Citigroup To Cease Using Mortgage Brokers Mortgageorb by MortgageOrb.com on Friday 03 February 2012 According to a Bloomberg report, the lender's decision will impact 300 employees tied to its mortgage brokerage business. Mark Rodgers, a Citigroup spokesperson, says that most of the employees will be ... Citi: Bank Will Exit Mortgage Brokerage Biz |
FSA to increase mortgage broker fees - Mortgage Strategy
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Heritage Bank Goes Nationwide with Mortgage Lending - San Francisco Chronicle (press release)
Heritage Bank Goes Nationwide with Mortgage Lending San Francisco Chronicle (press release) Heritage Bank will expand its mortgage broker network to offer home loans in every state and territory in Australia from today (Wednesday, 1 February). Heritage Bank will expand its mortgage broker network to offer home loans in every state and ... |
Citigroup Says Bank Will Exit Mortgage Brokerage Business - BusinessWeek
Bloomberg | Citigroup Says Bank Will Exit Mortgage Brokerage Business BusinessWeek 1 (Bloomberg) -- Citigroup Inc., the third-largest US lender by assets, plans to stop using brokers to originate mortgages and probably will cut jobs as it exits the business while banks grapple with the fallout from the housing collapse. Citigroup has made it even more difficult for those looking to secure a new ... Citi to Close Wholesale Lending Business |