Becoming a mortgage
just might be the best decision you ever
make. Loan originator
is one of the last professions remaining
that you can enter with little out of your pocket and unlimited
This website can help you by showing
all the things you have to know to be a loan
originator. In the mortgage business a mortgage
loan originator is the person who gets the loan. You
can work as a broker or a loan officer. But to be successful you
must get the proper loan
origination training. On MortgageBrokerTraining.com,our
website, we refer to loan origination training
as mortgage broker training. The words are interchangeable. Our
main loan origination training
manual is a useful tool that will be a permanent guide through the
loan approval process: from what you need to start you career to
how you can have most of your loans approved.
Take a look at our website and look
at the different subjects this manual covers. There is also a short
quiz to see how much you know about being a loan originator
already. After taking the quiz, you will have a much better idea
of how well your loan origination training up to this point
To help people become mortgage loan originators
we have written a book titled So You Want To Be A Mortgage Broker.
You can get more info about the book at http://www.mortgagebrokertraining.com/so.html.
Like I said earlier a mortgage loan originator is a mortgage broker
in most parts of the country. The terms mortgage loan originator,
mortgage broker, and loan officer are synonymous. We could have
called it So You Want To Become
A Loan Originator and it would mean the same thing.
Step one to becoming a mortgage
loan originator is to find out if you need a license.
Most states do require them. There is a complete listing in the
book mentioned above.
Step two is to get your license and find a
job. That shouldn't be too hard because you will be working on commission
and if you do not produce you do not eat. So finding a company to
work for will not be very difficult.
Step three is to get proper loan origination
As a loan officer there are numerous things
you will need to know. A short list is:
- How to fill out a 1003 loan application
- How to lock the interest rate for a loan
- How to read a rate sheet
- How to price a loan so you make money
- What disclosures need to be given to the borrowers
- How to read and analysis a credit report
- How to submit a file to the lender
All these topics should be part of your loan
origination training. The sad thing is that most mortgage
companies do not offer very good training to their originators.
So you might be forced to get your own training. In that case, we
have an excellent loan originator training manual that will
teach you everything you need to know and then some.
You can get more info about our loan
originator training manual at http://www.mortgagebrokertraining.com/rmlome.html.
Getting your training is not a hard process.
But it will take a little time. The better trained you are, the
more confidence you will have, and thus the more loans you will
Once you become a loan originator, you
will experience the freedom I live everyday: No boss, you choose
the hours, you choose the days, you can work from home, and have
But it starts with So
You Want To Be A Mortgage Broker. Find out about the business
and make sure this is something you want to do. Get info about your
license as well. Then get your loan originator training,
either from your own company or from ours.
After you are done training, it is time to
start marketing. There are many great mortgage marketing programs
available that can help you get clients. MortgageBrokerTraining.com
has several you should check out.