We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
February 03, 2023, 05:08:30 am
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
February 03, 2023, 05:08:30 am
Home Help Search Calendar Login Register

Author Topic: Working in the lending industry  (Read 6008 times)

Offline Rich_in_CT

  • Member
  • *****
  • Posts: 3209
Working in the lending industry
« on: September 11, 2006, 01:36:55 pm »
My girlfriend wants to get into the mortgage industry and is looking for a good place to start, a paid entry level job that can help her get started.  Shes looking for something she can get started with without any education to start and work while shes in school.  What job titles should she be looking for?  What types of classes would be best for her to focus on while she's in school?

Offline 4EEM

  • Member
  • ****
  • Posts: 820
Re:Working in the lending industry
« Reply #1 on: September 12, 2006, 10:31:55 am »
She could be a "loan processor" or a loan officer for a bank.   Finance and real estate classes are the best to focus on...marketing classes help as well.
Patrick S. Lawson
Highland Lending, Inc.
Phone  (407) 877-0093
Fax      (866) 476-1133

Offline turborocket

  • Member
  • ***
  • Posts: 271
Re:Working in the lending industry
« Reply #2 on: September 14, 2006, 06:46:12 am »
I agree with 4eem.  Loan processor would be a good place to start.  If she is organized, can handle a fast pace, is calm under pressure, is a fast learner, is not a math-phobe, she will be treasured as a processor.  Or, she can find a loan officer position that is salary based, not commission based.  Usually, smaller community banks have salaried LO positions.  Alternatively, perhaps something related, as an entry level processor in a title agency.  
* Enroll in our 1-on-1 pre-foreclosure mentorship program.  Contact me for more details.

Offline yrush2000

  • Member
  • *****
  • Posts: 1052
Re:Working in the lending industry
« Reply #3 on: September 17, 2006, 08:48:01 am »
In Fl they are always hiring Loan Originators which are unlicensed brokers and they provide all the training.

Offline BS3488

  • Member
  • **
  • Posts: 66
Re:Working in the lending industry
« Reply #4 on: September 17, 2006, 11:16:18 am »
yrush could you elaborate on the job of a loan originator in fl, it sounds like it might be a good job for me to get some experience.  

If I were to become a loan originator, when I buy a house could I have personal access to wholesale loans to use for investing?

Offline yrush2000

  • Member
  • *****
  • Posts: 1052
Re:Working in the lending industry
« Reply #5 on: September 17, 2006, 05:25:33 pm »
I am not a loan orginator so I could not answer that question. If you like more info goto Craigslist.org and click on the Florida site, then click miami or ft lauderdale for the cities. Goto the Business Mgmt or Sales section in employement section and you will see companies hiring for them. You can contact them and ask, maybe you can even work from your state for them since they all say no experience..

Offline turborocket

  • Member
  • ***
  • Posts: 271
Re:Working in the lending industry
« Reply #6 on: September 17, 2006, 05:34:02 pm »
BS3488,

I use to be in the business for a short time, so I will give it a whirl.  Depending on who you work for, the broker may or may not allow you to do your own loans.  You could always ask a colleague to do the loan for you, if he/she is nice enough to do the loan for free.  Just remember the perception of impropriety it creates if you are doing your own loans.  
* Enroll in our 1-on-1 pre-foreclosure mentorship program.  Contact me for more details.

Offline Rich_in_CT

  • Member
  • *****
  • Posts: 3209
Re:Working in the lending industry
« Reply #7 on: September 18, 2006, 08:48:19 am »
I'll check the above options out.  If anyone has anything else to add please do.  Thanks for the help so far!

Offline coolaccountant

  • Member
  • *
  • Posts: 13
Re:Working in the lending industry
« Reply #8 on: September 20, 2006, 11:02:55 pm »
or try monster.com, mortgage broker or something

Offline Rich_in_CT

  • Member
  • *****
  • Posts: 3209
Re:Working in the lending industry
« Reply #9 on: September 21, 2006, 12:31:16 pm »
In this state going straight to being a mortgage broker isn't quite as easy as it sounds.  Looking for a job that she can do without experience (one that will give her good experience) and one that can be done without going through complex licensing processes.  She would become a broker in the future when the time was right.

Offline tratra

  • Member
  • *
  • Posts: 28
Re:Working in the lending industry
« Reply #10 on: September 22, 2006, 08:17:59 pm »
I would think, to be a mortgage broker you need to have some amount of experience  doing mortgages in addition to whatever training is needed . I heard that FL has some strick laws as it pertains to brokering mortgages. In NY you need to have a few grand (about 80k) in the bank. Rich-in-CT I sent you a pm

Offline yrush2000

  • Member
  • *****
  • Posts: 1052
Re:Working in the lending industry
« Reply #11 on: September 22, 2006, 09:06:36 pm »
In florida you can open a office if you have 1yr experience and enough to buy the computers and pay the rent...its called being a broker..

Offline Rich_in_CT

  • Member
  • *****
  • Posts: 3209
Re:Working in the lending industry
« Reply #12 on: September 22, 2006, 10:55:53 pm »
In NY you need to have a few grand (about 80k) in the bank.
Same in CT, $25k.

 




SMF 2.0.15 | SMF © 2017, Simple Machines