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like I can't do any business on my own until after I've been working
for somebody for 3 years and then must take a test and pass it! Guess
I'm going to have to stick it out with who I am working for now for
atleast 3 years, then maybe I can work for myself, if I pass the state
test. Thanks for passing that info on to me. Is there a way to do this
business without having to work for someone else?
The key element is a supervised work relationship. The problem that
seems to be more predominate in Arizona than in other many other states
is no one wants to be the first to hire someone without some field experience.
OK, you've found someone to take you on. Regardless of they're background
or inconsistencies, you have a broker that is willing to open the door
for you. That does not mean you have to stay with them for the term
period required by the state.
As you gain experience, you'll be able to find other brokers willing
to take you on. Remember, the state's time requirement here is 3 years
cumulative, not necessarily all with the same broker. The real key to
being a total success and the one that every broker will pay you dearly
for, is your ability to find potential borrowers, "Sales and Marketing."
The killer is to make sure your broker has relationships with lenders
that have good loan programs that the majority of your borrowers might
be able to benefit from.
With the Professional Resource Set and tapes, you have the tools to
hit the ground running. Now expose yourself to everyone you basically
come in contact with daily. If your broker has subprime loan programs,
your market is 70% of every person you meet. If you start generating
numbers of potential borrowers but find your broker doesn't have programs
to apply to your borrowers, then you can look to go somewhere else.
With that list and your ability to continue to generate more leads,
you'll find many doors open to you.
If I can continue to help you, give some insight or further direction,
please let me know. You'll do great. Don't give up on your commitment.
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I have a friend that is a broker. He told me he will help me get
a job with a mortgage company, since I don't have any experience they
will train me he said. He was a little curious about where I found my
information about the mortgage business, because I was telling him a
little bit about what I am learning. He said this is very good, very
good. Even if the company trains me, I will always rely on your information
to do loans. I will let you know about how I am doing, because later
on I will order other training materials from you. I want to change
my financial situation and be debt free, I hope the mortgage business
will help me achieve my goals. I started working as a loan officer for
Prestige Home Equities. I will start going in the field with the broker
as part of my training. I will apply all the info from your training,
I am still listening to the tapes. I want to thank you for your help
and your patience with me. Do you think if I encounter a problem with
a loan it will be possible for me to ask you questions? I think not
but I want to have the answer from you.
Congratulations!! Yes you can call and ask, or you can ask through email.
Your choice. As a client and proud owner of the Mortgage Academy educational
material, you are FREE to continue to communicate with us, at NO ADDITIONAL
COST. It's our way of saying thank you and assisting you to become successful.
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I have studied the info, it is very good. Thank you very much. Now
I have to start looking for a job as a loan officer so I can apply my
knowledge and learn more by practice. I will always continue to listen
and read the book since I don't have any experience at all. I will let
you know how I am doing. One mortgage company in Chicago wants to hire
me, I applied through the internet, and they have sent me information,
but I wonder if it is a good idea. Would it be better to looking for
a job with a broker in Long Island, so I can continue my training face
to face? Do you think it's possible to succeed in that business if I
worked by myself for a company far away since I am just starting out?
They told me they will help me out, if I have any questions, any problems
I just have to pick up the phone and call them.
It makes me very happy to know that you are learning with ease and feel
confident to move forward in the mortgage business. Please keep in mind
that you are now only starting to understand the business. It is very
important that you work with a broker that is in your local and has
been in the business for some time and has experience and a track record
of success. As you begin working in the field, the real lessons of learning
will begin. I would wait awhile from working with any company or person
that is any distance from you until you have a more secure handle on
the business and you've closed many loans. Overall, everything sounds
as if it's going well. I can only imagine the excitement you're experiencing.
I very happy for you. Continue following the information, and you will
succeed.
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How difficult is it to become successful, especially if I'm changing
careers?
I really hope that I am making the right decision to change career fields
and put the money out to learn something I know nothing of.
I can fully appreciate how you feel about attempting something new.
The hardest process to complete is filtering through all of what I call
the "Initial Hype" that everyone throws out, no matter what field or
business we are attempting to investigate.
The business of mortgage lending is no different. One thing to remember
is that if this business wasn't making people a lot of money, you would
not have so many people attempting to sell you something at every turn
in the road, from education to some magical formula for closing more
loans.
Here's the key to remember, and it comes from making almost every mistake
that might be made. The real secret to success in this business is for
you to fully understand the very basic elements of the business that
every loan program existing is based on. That's your foundation. Everything
else is built and expanded on that premise.
Unfortunately, a lot of the individuals in the business have only a
limited understanding, and many times, have learned only the bad habits
or short cuts. As long as they continue to do conventional "A" paper
lending where the borrower fits into a pre-determined & prescribed template,
their can continue in a robotic fashion. Unfortunately, when the "A"
paper market goes down, and it does, everyone only knowing that market
is handicapped. We see all the time, even with so called seasonedveterans.
The Mortgage Academy and its educational staff has deliberately developed
its material from the underwriters and lenders point of view of what
you, as a loan professional, should know and how to operate. The reason
we did that is simple. All loan packages are either approved or not
by the underwriters and lenders. So your success and earning potential
is predicated on how knowing the rules of the game which is controlled
by these underwriters and lenders. It is not controlled by brokers.
Because our material is all focused on SubPrime, the largest lending
market and one that will not go away, you will be able to survive in
any market condition and Yes, will even be able to do those "A" paper
loans if you want.
All of the information, and more importantly, how to apply the information
to be successful you'll need, is provided and made available to you.
However, the one thing we can not provide is your own personal commitment.
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