Good time for a loan officer in the state of Texas?
I’m looking for a new career began. I have some experience working as an assistant to take care of the title company and have always been interested in this area. I came across a company that would lead me to a loan officer, I will allow them to work from home. I know that this is the work of the Committee list. You have to sell some of AT & T per year from door to door carefully and the Commission is not afraid of the work of the Committee. My question is, with the economy as it is now is the time to have a job based on the loan officer to start a loan company? I do not want to waste my time. You know what I mean?
As long as you have saved at least 6 months of your expenses, you can conside it. But, the market is down almost across the board and there is a glut of both real estate agents and mortgage brokers who are starving right now. Money is tight and things will certainly get worse next year, so if I were you I’d hold on to a job where you have steady income and hopefully health insurance.
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LikeDislikeI am a commission based mortgage originator at a local bank. My income has dropped off considerably in the last two months. People are not applying for loans right now at the rate they were this time last year. If you have not been in mortgage and already know the rules and how to work it. I would seek another profession. This is a dog eat dog job. There are many mortgage originators on the streets right now hunting for jobs. I am lucky that I work for a bank and not at a mortgage retail business. My job security is not guaranteed. I wish you the best of luck and if you decide to pursue the job offer. You can shoot me a question any time at [email protected]. Good Luck
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LikeDislikeThis is the absolute best time to learn the business. In the “boom” times no one was available to do any training. Every new loan officer was left to “sink or swim” and most sank. If you get the training now, you will be in excellent shape when the good times return. They always return. I would recommend that you “sub” one day a week at a local escrow company as an escrow assistant. Those people will refer all business to you when people enquire about loans..
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