The Foundations of A Mortgage Career

To plan a career as a Mortgage Loan Officer the candidate has to consider three very important skill set components. First, are the sales skills necessary to enter into the realtor market place and present yourself, and your company, as a worthy choice to fund the Realtor’s purchase loans. However, the loan officer candidate will never get to test those sales skills with realtors without a fundamental knowledge of the other two skill sets required. Those two other skill sets that are required to be a success in mortgage lending are; first, a deep understanding of the Home Purchase escrow process, including appraisal and title, and second; a full knowledge of how banks and all other lenders process mortgage loans.

Luckily, a prospective candidate with a long term plan for being a Mortgage Loan Officer can receive the training for the last two skill sets at one convenient place, thus killing two birds with one stone. Taking a position in a bank mortgage processing unit, and earning your way up is the best way to learn both the realtor escrow process, as it relates to bank loan processing requirements, and the bank’s processing procedures and policies for funding mortgage loans as it relates to the Realtor and the Borrower.

As the candidate learns these two interwoven skill sets around processing purchase mortgage loans for lenders, the knowledge of the process necessary for the SALES skill set of becoming a Mortgage Loan Officer is being enhanced every day. Knowing the “How’s” and “Why’s”, of the process, and the policies and procedures of lending make you a very valuable person. Many of the very best mortgage Loan Officers come out of what we call, in the mortgage business, an Operations background.

To plan your career as a Mortgage Loan Officer plan to spend some time in operations learning how the Mortgage business works and you will become ten times the Mortgage Sales Goat you would have become without this special training. You may also learn that you prefer operations to sales, or vice versa, but in any case you will have learned valuable skill sets for your career in the Mortgage Business.

Ask Dr. Billy how to start your career in Mortgage today!