Ed G.,James Strange,Charles Clark, or Gmann?? - Posted by Newbie

Posted by GMann on July 14, 2003 at 10:50:48:

I would check them out before taking the plunge.

I would also suggest that a newbie go and work in an office first. Maybe a local mortgage broker, bank or mortgage company. The mortgage biz is not rocket science but… You have to learn lingo, lenders programs(conventional, Alt-A, sub prime), how to read appraisals and credit, so on… I don’t see how you can be a good loan officer and sell something with confidence without having a firm grasp on the basics. Remember, people are putting their trust in you on the biggest financial transaction of their lives. Would you want to do a mortgage with someone that didn’t “know their stuff”?

You will have times that you don’t know the answer to the borrower’s question. If you have a manager or seasoned loan officer around to answer questions it will make your life much easier.

On another note…Get in now. The refinance boom will soon be over and business will drop off sharply after it is over. Establish multiple types of lead generation so you can weather the upcoming storm.

Best of luck!

Ed G.,James Strange,Charles Clark, or Gmann?? - Posted by Newbie

Posted by Newbie on July 10, 2003 at 11:56:26:

I’m trying to get into the mortgage industry and a Senior Recruiter from Neustar email me an offered me a position as an independent Loan Officer with their mortgage company paying a 50% commission. Their licensed in my state(MO). My question is what is the difference between a Mortgage Broker and an Independent Loan Officer? I was told that I can work out of my home if I like with flexible hours. Here’s the link to their business opportunity.


Please tell me what your think before I join this outfit. Advantages and Disadvantages?

Thanks for responding.

St. Louis Missouri

Re: Ed G.,James Strange,Charles Clark, or Gmann?? - Posted by James Strange

Posted by James Strange on July 10, 2003 at 14:54:36:

If you drop me an email I will send you a link to some info that I found about them. It is in a place that if they were bad you would hear but the info was good.

You are wise to check out who you work with the company that I started with (WLG) was a nightmare. I loand diapeare from my pipeline prossesing would not rretuen my calls. That is when there voice mail boxes were not full. And on and on.

Depending upon your experice level if they 50% on all points then that may be a good deal to start with.