Loan Officer Questions - Posted by Charles

Posted by Shambhu Nath on September 22, 2003 at 18:33:21:

LO job part time is ok as many people do it. The only issue is how to get business. If the rates are dropping, it is easy for part timers to get loans but purchase buiness is hard to come by.

Realtors like to work with people who are committed full time and also, it generally takes time to build trust and referrals.

The issue you need to think is how will you get clients and how many hours can you devote to business. Good luck

Loan Officer Questions - Posted by Charles

Posted by Charles on September 22, 2003 at 11:14:02:

I am interested in being a loan officer part-time while going to law school next year. Is being a loan officer a typical full-time job if you’re only working with a local mortgage broker, instead of a company?

I heard that the turnover rate for LO’s are pretty high, however, there are some that make a decent living from being in the field. Is there any advice that will benefit an LO in the long run?

I’ve been encouraged and discouraged about being an LO. I’ve received advice that doing it part-time is conceivable although I must keep in mind the turnover rate. I’ve also been told that being an LO is a full-time job and that it has its ups and downs (I asked them, what career doesn’t have its ups and downs).

What do you guys think? What’s your take on it?

Thanks in advance!

Re: Loan Officer Questions - Posted by hal perry

Posted by hal perry on October 16, 2003 at 12:56:57:

I need a conventional conforming wholesale lender that offers a Texas Home Equity Loan 3/1 ARM. This must be A paper rates.