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Mortgage Broker Career: The Basics
from: Deb St. George - HomelessInKingCounty.comThere are a few things that everyone looks for when they try to find the perfect job. For one, they want to be able to do something that is fun and that they can see doing for a long time. They also want to be successful and in demand. Finally, and often most importantly, they need to make a lot of money. Of all jobs, there are few that fit into all of these categories. One of the better ones is mortgage brokerage. If you want to try a new and challenging career that has a lot of amazing benefits, then you should definitely look into starting a mortgage broker career.
There are some things that you need to know before you consider a mortgage broker career. First, you need to know what it actually is. A lot of people have misconceptions about what mortgage brokers do. They assume that they are working for lending companies and are just out to sell loan products to unsuspecting prospective home buyers. That's not the case, although there is a career that falls under that description: loan officer. In reality, a mortgage broker works as an intermediary between the prospective home buyer and the lending company. The home buyers are the broker's real clients, and they work for them.
Essentially, you'll be helping people find the best lending company and loan product for the customer during your mortgage broker career. You want to evaluate who these people are, what the credit is like, and what they need. Then, with that information, you can present them with a few loans that fit the criteria. This is what being a mortgage broker is all about.
Sounds like a fun job, right? Well, hold it right there. A mortgage broker career isn't for everyone. There are certain personality traits that you need in order to be successful and for you to like what you do. Since you'll be working with clients so much, you should really enjoy people. If you don't, then you are ill-suited for this career. You should also be okay with filling out paperwork as you'll be doing a lot of it.
But you can't just start a mortgage broker career on a whim. You actually need to get a license first. This can be achieved after you take classes on the subject and pass a test. Once you do those things, and pay the necessary fees, you should be able to obtain a license. With it, there is nothing stopping you from starting your career as a mortgage broker.
Commercial Mortgage Broker News
Commercial Real Estate Brokers: Now Is Best Time to Start Your Career - MarketWatch (press release)
Commercial Real Estate Brokers: Now Is Best Time to Start Your Career MarketWatch (press release) NEW YORK, May 22, 2012 /PRNewswire via COMTEX/ -- Now is the best time for new commercial mortgage brokers to begin their careers, says Commercial Mortgage Broker Training Expert Adam Petriella, Managing Partner of The Real Estate Finance Group, ... |
CMLS Financial Releases Latest Commercial Mortgage Spread Commentary - MarketWatch (press release)
CMLS Financial Releases Latest Commercial Mortgage Spread Commentary MarketWatch (press release) VANCOUVER, BRITISH COLUMBIA, May 23, 2012 (MARKETWIRE via COMTEX) -- CMLS Financial is Canada's only dedicated provider of commercial mortgage market intelligence. On a quarterly basis, CMLS Financial publishes a commentary on the Canadian commercial ... |
New York Mortgage Trust Arranges Long Term Financing Secured by Multifamily ... - MarketWatch (press release)
New York Mortgage Trust Arranges Long Term Financing Secured by Multifamily ... MarketWatch (press release) NEW YORK, May 23, 2012 (GlobeNewswire via COMTEX) -- New York Mortgage Trust, Inc. (NASDAQ:NYMT) ("NYMT" or the "Company") announced today the completion of a re-securitization of commercial mortgage-backed securities collateralized by multifamily ... |
Commercial Mortgage Firm Offers Financing for Retail Properties Nationwide - San Antonio Express
Commercial Mortgage Firm Offers Financing for Retail Properties Nationwide San Antonio Express Clopton Capital ranks as one of the most active and dynamic commercial real estate finance firms providing lending options nationwide for income producing properties. Offering commercial mortgages, construction loans, bridge loans, and CMBS loans to ... |
TEXT-S&P cuts Wachovia Bank Commercial Trust series 2005-C21 - Reuters
TEXT-S&P cuts Wachovia Bank Commercial Trust series 2005-C21 Reuters OVERVIEW -- We lowered our ratings to 'D (sf)' on classes N and O from 'CCC (sf)' and 'CCC- (sf)', respectively, from Wachovia Bank Commercial Mortgage Trust's series 2005-C21, a US CMBS transaction. -- The downgrades reflect principal losses that ... |
Fitch Affirms Commercial Capital Access One, Series 2; Takes 1 Class off Watch ... - MarketWatch (press release)
 Telegraph.co.uk | Fitch Affirms Commercial Capital Access One, Series 2; Takes 1 Class off Watch ... MarketWatch (press release) NEW YORK, May 23, 2012 (BUSINESS WIRE) -- Fitch Ratings has affirmed two classes and removed one class from Rating Watch Negative of Commercial Capital Access One, series 2 (CCA One, series 2) commercial mortgage pass-through certificates. TEXT-Fitch affirms Verizon Communications ratings |
Kroll Sees Supplanting S&P in Rating Commercial Mortgage Bonds - BusinessWeek
Kroll Sees Supplanting S&P in Rating Commercial Mortgage Bonds BusinessWeek By Zeke Faux on May 21, 2012 Jules Kroll says his two-year-old credit ratings firm is poised to surpass Standard & Poor's providing grades on bonds backed by commercial mortgages, capitalizing on a stumble last year by his larger rival. |