As a Loan Officer, you don’t have to go to showings, closings or even meet your clients in person. If you need to close 6, $250k deals each month, that’s only 72 transactions a year. Trust me, there are way more than 72 homes over $250k in your state that sell each month, let alone each year.
Loan officers can specialize in consumer, mortgage or commercial loans and often work for commercial banks. In essence, picking between a mortgage broker and a loan officer is about deciding whether it’s worth paying someone to manage most of the mortgage process for you.
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Well-Managed Processing, Underwriting and Closing. Good loan officers are smart, and they know it is possible to beat the loan condition deadlines, to get the closing figures and documents to title 3 or 4 days early, and it’s even possible to have the wire at the title company the day before the loan is closing.
Even if you don’t want to make a million dollars a year, this report will go over the rules that all successful loan officers work by. 1. You have to be motivated. 2. You have to value yourself 3. You have to be organized 4. You have to specialize 5. You have to market 6. You have to be with a good company 7. You have to have good lenders and programs 1. You Have To Be Motivated
The mortgage loan originator/officer is usually the borrower’s main point of contact throughout the entire home loan process. To delve a little deeper into what a mortgage loan originator does, you can take a peek at this sample job description from popular job searching site, Monster.com:
There is no one right answer for this. The type of mortgage loan that works for you may not work for your neighbor. And the type of loan that works for your co-worker may not work for you.There are several loan types available but here are a few terms to keep in mind: Conventional and government-backed loans; Adjustable versus fixed-rate loans
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The Top 6 Things to Look for in a Loan Officer & What That. – A good loan officer will counsel you through the mortgage process and help qualify you for an appropriate loan amount. Your loan officer will provide various loan options based upon your personal preferences, short term goals, and current financial situation.