Welcome to Mortgage Broker Guide
Mortgage Broker Franchise Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Becoming a Mortgage Broker
from: Deb St. George - HomelessInKingCounty.comIf you have ever bought your own home, you have likely worked with a mortgage broker. While most people use them, they are often a misunderstood occupation. In reality, these mortgage brokers act as an intermediary between you and a mortgage lender. Some people think that they work strictly for mortgage lenders. That's not true. Lending officers do that. They look out mostly for themselves and the lender and don't care as much about the buyer. Mortgage brokers are different. They work to help buyers find the right lender and buyer so that both parties are happy.
The career of a mortgage broker is a popular one. In fact, there are over 400,000 mortgage brokers in the United States alone. This makes up for over 65% of all mortgage loan transactions. Because they are in such high demand, a lot of people look into getting into this career. It isn't for everyone, though. For instance, you need to really like people. You will be working with buyers all day. You should also like, or at least tolerate, doing paperwork. Much of your job will entail filling out paperwork for your customers and turning that paperwork into a mortgage lending company.
There are a lot of tasks that a mortgage broker is responsible for. Above all else, they work with buyers to help them find the best mortgage lender and loan product. To do this, they focus on marketing in order to attract new clients, they asses the circumstances of the borrower, and they collect any necessary paperwork. This is only just a bit of what a mortgage broker does every day.
Not only do you need to know a lot about the field, but you need to be licensed as well. There are many requirements when it comes to being a mortgage broker. You will need to show that you know what you are doing. This is important since there are a lot of laws, rules and requirements when it comes to mortgage loans. If you don't know what you are doing, both you and your client will get into a lot of trouble. This is the main reason why mortgage brokers are required to be licensed.
The rules and regulations of mortgage brokers vary quite a bit between countries and regions within those countries. Mortgage brokers in the United Kingdom have a lot different rules than mortgage brokers in the United States. Be aware that you should be learning as much as you can about what happens in your own area than what may be required in a different country.
Mortgage Broker Franchise News
Revealed: How the Rolls Royce lifestyle of Refund Home Loans founder Wayne ... - SmartCompany.com.au
Revealed: How the Rolls Royce lifestyle of Refund Home Loans founder Wayne ... SmartCompany.com.au Refund Home Loans administrators will investigate whether the once high-flying mortgage broking franchise led by charismatic founder Wayne Ormond traded while insolvent. Ormond, the darling of current affairs program Today Tonight (on which he appeared ... Wayne Ormond's Refund Home Loans sold to non-bank lender Homeloans Ltd |
Smartline and The Mortgage Gallery Merge for Better Services to Clients - San Francisco Chronicle (press release)
Smartline and The Mortgage Gallery Merge for Better Services to Clients San Francisco Chronicle (press release) Individually, both of these companies have already established themselves in the mortgage broking industry. Smartline is recognised as the leading market group of mortgage brokers in the country. The company has approximately 210 franchises in the ... |
EverBank Financial Corp. Announces First Quarter 2012 Financial Results - MarketWatch (press release)
EverBank Financial Corp. Announces First Quarter 2012 Financial Results MarketWatch (press release) We are very excited about our position in the marketplace and plan to leverage our nationwide core businesses in lending, banking and investing to deepen client relationships and maximize franchise value." -- GAAP net income was $11.8 million for the ... |
Aussies want government gone before they'll spend - Broker News Australia
Aussies want government gone before they'll spend Broker News Australia A new poll from mortgage broker franchise Loan Market has found that respondents believe that a cut in taxes, followed by a change in government, would most improve cconsumer confidence in Australia. Forty per cent of those surveyed said tax cuts would ... |
Huntington Bank Names Andrew Paterno President of Its West Virginia Region - MarketWatch (press release)
Huntington Bank Names Andrew Paterno President of Its West Virginia Region MarketWatch (press release) ... and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and ... |
National broker struggles in NY - Crain's New York Business
National broker struggles in NY Crain's New York Business To its credit, the company has succeeded in attracting 174 brokers and in opening a fancy new Park Avenue headquarters earlier this month, but observers note that the New York franchise has yet to lure any of the city's top producers or land many ... |
New York Community Bancorp's CEO Presents at Barclays Americas Select ... - Seeking Alpha
New York Community Bancorp's CEO Presents at Barclays Americas Select ... Seeking Alpha Some of them are community banks, some of them credit unions, some of them mortgage companies. Obviously, we have mortgage brokers as well. The vast majorities of loans funded are agency eligible 1 to 4 family loans. Although we have begun to do jumbos ... |