Mortgage and Loan Education

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Mortgage Professional

Written by Dana Hinders
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People with experience selling advertising, office supplies, and hundreds of other products have used their sales training to become successful mortgage professionals. While many mortgage brokers and loan officers have a college degree in a related field, there are plenty of opportunities available for motivated job seekers. A combination of on-the-job training and professional development courses can help many people begin their careers as mortgage professionals.

Many mortgage bankers will train experienced salespeople to become mortgage loan officers. Training programs usually give job seekers a chance to learn about product lines on an individual basis instead of becoming overwhelmed by the amount of information available. For example, once a trainee has mastered home equity loans, he or she is taught how to process second loans, refinanced loans, or sub-prime loans.

Mortgage loan officers should always take the time to conduct thorough research on any prospective employer. In addition to a comprehensive training program, a good employer should offer its loan officers a steady supply of leads. Commission split levels and the types of fees a loan officer must pay from his or her commissions are also important considerations when evaluating a potential employer.

Job Opportunities for Mortgage Loan Officers

Mortgage loan officers can work for a mortgage banker, mortgage broker, or credit union. Loan officers who are employed by mortgage brokerages are usually paid on a commission basis and have a higher income potential than their salaried counterparts at mortgage banks or credit unions. Some mortgage loan officers decide to start their own home-based businesses in which they act as both the mortgage broker and loan officer.

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