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How to Become a Mortgage Broker: Three Easy Steps
from: Deb St. George - HomelessInKingCounty.comYou must have heard by now just how popular it is to be a mortgage broker. After all, mortgage brokers are in high demand nearly everywhere in the country. More than 60% of mortgage loan transactions go through a broker, rather than a lending company. If there are people interested in buying a house, there will always be a need for a broker. Are you considering a career change? If you would like in on this lucrative career, then you may be wondering how to become a mortgage broker. It is actually very simple.
There are three basic steps for how to become a mortgage broker. Before you do any of them, you must first evaluate whether or not you are suited for the job. If you like working with people, then this would be perfect. Mortgage brokers work with people every day. It's just a part of the job. You should also be comfortable with doing a lot of paperwork. While it can be hard or boring, this is also a major part of the job. You need to be okay with these aspects if you want to learn how to become a mortgage broker.
The first step to becoming a mortgage broker involves education. This isn't one of those jobs where you can just start and learn as you go. You need to first learn about all the aspects of the career before you ever begin. Make sure that you take a course that applies towards getting your license. Also make sure that you take the required number of hours of education as well. This requirement varies by state. During these classes, you will learn how to become a mortgage broker.
After the classes are done, your work still isn't over. The next step is to take your licensing exam. This exam tests your knowledge about all aspects of the business. If you pass, it means that you know what you are doing and you're ready for work. Then, you will be able to get your license. After all the work that you put in taking your classes and passing the test, applying for and receiving your license will be a breeze.
As you can see, there isn't a lot they goes into becoming a broker. Now that you know how to become a mortgage broker, it will be very easy for you to start this career. Remember that all you need to do is take a class, pass a test, and get a license. Then you are well on your way to an amazing career.
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 |
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 ... |
FSA to increase mortgage broker fees - Mortgage Strategy
 Mortgage Strategy | FSA to increase mortgage broker fees Mortgage Strategy The Financial Services Authority has today revealed its Annual Funding Requirement for 2012/13, which includes an increase in the fees mortgage brokers will pay. Overall the AFR for 2012/13 is £578.4m, up from £500.5m in 2011/12 - a gross increase of ... FSA puts broker fees up 2pc |
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 |