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?
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.
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.
In Fl they are always hiring Loan Originators which are unlicensed brokers and they provide all the training.
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?
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…
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.
I’ll check the above options out. If anyone has anything else to add please do. Thanks for the help so far!
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.
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
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…
Same in CT, $25k.