Become A Mortgage Lender

Chris Said:

What's the best way for me to become a Mortgage Broker in CT?

We Answered:

You can try Countrywide, but honestly...your current position is the safer bet of the two. Mortgage Brokers and getting the short end of the stick lately and banks (like Wichovia) are no longer even dealing with them. It's not a good time to switch careers at all.

Charlotte Said:

How do I become a mortgage lender in multiple states?

We Answered:

Most states will approve you if you are approved in another state. I am approved in Illinois, but my license lets me originate in like 27 states. My bank pays for me to be approved in the other 23 states as well

James Said:

Who owns a house if the mortgage lender goes bust?

We Answered:

Of course you still owe someone money. The lender went bust because the lender owes someone else more money than they have. Accordingly, that someone gets your mortgage and you pay them.

Lester Said:

What knowledge do I need to be a Mortgage Broker?

We Answered:

there are exams to be taken to be a legit one, (UK nt sure about any other country) basically pass your exams, get lots of on the job work and if your going solo then its good to have a goo client bank best to start off within the mortgage department of a bank or other company which offers the advice to build up your contacts

Erika Said:

Becoming A Mortgage Lender?

We Answered:

You actually don't need a degree. I believe as you work you can take classes and get certian certifications.

If you ask me you just need low morals. Most of these people will screw you out of every last penny.

Gene Said:

I'm an asst to a mortgage broker but I want to become a MTG broker myself--any ideas on what I should do?

We Answered:

Why are you afraid of Realtors? They don't know the mortgage business anymore than a brand new student would so they are a threat.

Some do come across as if they understand but you will be the first one they call when they don't have the answer to their Buyers questions.

Have you originated loans? Have you processed loans? Next step is Loan Officer which if you are good with the process should be right up your alley. Have you been able to sit down with Buyers to help them understand their loan docs?

You don't have to worry about bing a fraudulent mortgage broker as there are plenty out there enough to take care of all of us 10 times over.

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