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Mortgage Broker License: Tool to a Successful Career
from: Deb St. George - HomelessInKingCounty.comIt can sometimes be hard to decide which career you want to go into. There are so many different fields to choose from. One of the best ways to decide is to evaluate the demand for the job, and the pay. If you can find a high demand job that also pays a lot of money, then you'll be set. One of the best jobs that falls under this category is mortgage brokerage. Mortgage brokers are people who help prospective home buyers find the best loan that fits their needs and personality. They essentially help with all of the financial aspects of buying a house. Since people are always buying houses, this job is very much in demand. It also pays very well if you are good at what you do.
If you want to be a mortgage broker, you can't just start working. Unlike many jobs, you need to be certified and have a license first before you can ever start helping people with their mortgage. A mortgage broker license essentially shows people that you know what you are doing. This is very important in this field because there are all sorts of regulations and laws when it comes to mortgage loans. If you don’t have a mortgage broker license, you won't likely know anything about those laws. This can cause a lawsuit not only for you, but for your clients and customers as well.
You can't just get a mortgage broker license. You first need to take classes. These classes will tell you everything that you need to know about the job. Depending on the state you live in, you may need to take as many as 24 hours of classes in order to qualify for the license. While this may seem excessive, you have to remember that there is a lot that you need to know.
After you take the classes, you'll then need to show that you actually learned something by passing a licensing exam. These exams are good because they will make sure that you really know what you are doing. Again, you can't get your mortgage broker license without taking and passing this exam. Once you do, though, you are pretty much guaranteed that you will receive your license.
After passing the test, you will then be able to get your license. Barring any unforeseen circumstances, you should definitely be able to get it. With your new mortgage broker license, you are now able to practice this amazing new career. If you get really good at it, you will definitely be making a lot of money
Loan Officer Mortgage Broker News
Mortgage loan officer licensing has reduced choices for Ohio consumers - Plain Dealer
 Plain Dealer | Mortgage loan officer licensing has reduced choices for Ohio consumers Plain Dealer Mortgage broker: Not a direct lender, but acts as a middleman, matching up borrower with lender. Loan officer: Works for a broker or bank and deals directly with the borrower. Mortgage bank: Not a traditional bank, but can fund its own mortgages before ... Number of mortgage loan officers slides in Ohio |
EverBank Financial Corp. Announces First Quarter 2012 Financial Results - MarketWatch (press release)
EverBank Financial Corp. Announces First Quarter 2012 Financial Results MarketWatch (press release) Total loans and leases held for investment were $7.2 billion at March 31, 2012, up $0.8 billion, or 12%, from December 31, 2011. -- Loans and leases originated were $2.2 billion for the first quarter. -- Deposits were $10.6 billion at March 31, 2012, ... |
Mortgage Brokers Face New Rules - Wall Street Journal
 Mortgage Rates & Trends (blog) | Mortgage Brokers Face New Rules Wall Street Journal The Consumer Financial Protection Bureau Wednesday said it could bar mortgage brokers from the widespread practice of calculating origination fees —the fees borrowers pay to compensate loan officers—as a percentage of the loan size. Proposed CFPB Mortgage Rules Could Have Unintended Consequences Consumer Bureau Targets Predatory Lending Consumer Agency Seeks to Simplify Mortgage Points, Fees |
US May Regulate Mortgage Lending Fees - Wall Street Journal
 The Star-Ledger - NJ.com | US May Regulate Mortgage Lending Fees Wall Street Journal The Consumer Financial Protection Bureau on Wednesday said it may bar mortgage brokers from the widespread practice of calculating origination fees--the fees borrowers pay to compensate loan officers--as a percentage of the loan size. Consumer bureau plans new rules on mortgage fees Consumer Bureau Targets Predatory Lending |
CSI: Housing Bust - The Atlantic
 The Atlantic | CSI: Housing Bust The Atlantic At the time of the shooting, Zimmerman worked as an auditor at Digital Risk, and before that, he was a mortgage broker. The company spends about $10000 to train each new employee in the art of fraud prevention and detection. Credit reports are pulled; ... |
Cut in USDA rural development loan program may hurt Louisiana towns - NOLA.com
 NOLA.com | Cut in USDA rural development loan program may hurt Louisiana towns NOLA.com "It will change the financing options for a number of individuals," said Janine Barrett, a loan officer with Gulf Coast Bank & Trust in Mandeville. Despite the name, the US Department of Agriculture's rural development mortgage loan guarantee program ... |
JPMorgan Hire, Citigroup Settles, SEC-Rothstein: Compliance - BusinessWeek
JPMorgan Hire, Citigroup Settles, SEC-Rothstein: Compliance BusinessWeek Chief Executive Officer Vikram Pandit is dealing with mounting costs from Citigroup's conduct in the US mortgage market. The lender agreed to pay $158.3 million in February after regulators alleged the firm had falsely declared some loans fit for a ... |