- How
do rate your material to other training schools and what they offer?
If I were to purchase your training material, after reading and learning
your material, what then?
Nobody hires loan officers without actual work experience. How can I
do this as my own business without experience and a license?
The state of Arizona requires 3 years work experience before being able
to take the license test.
How does one get into this field without actual work experience?
I have noticed that some loan officer training schools will provide
brokers for their students who pass their course and some even hire
them after completing the course but I am interested in working for
myself if I could find a company that I could run my loans through and
use their license and also have help if need be while I work towards
getting my own lic.
One last question would you say your training material would be better
than attending the training at this other school (name deliberately
withheld)? Can you help answer these questions?
With regard to this other school, all I'm going to say which I do when
I speak to everyone is, "please be careful".
I do not know anything of them other than what I've read on their website.
However, there are many companys that teach some sort of educational
class, all for the purpose of finding a steady stream of possible loan
officers they can hire, while the students pay big money for the potential
promise of employment.
I dislike comparisons, when the two entities being compared are very
different. From the very sketchy outline of their coarse, you are just
barely being given the basics and from what I've gathered, will be taught
only conventional lending. If they do teach anything concerning SubPrime,
it will be very limited. Remember, the SubPrime market in the USA represents
70% of everyone you will come into contact with.
The thing that I question the most, is after this very expensive training,
you then are assigned to a mentor. Both of you would apparently be paid
from the same loan, but your mentor is the one responsible to process
it and get it funded. Does that mean that until you originate 15 loans
that are funded you basically are no more than a "bird dog"?
There are many pictured individuals who have attended their training,
but how many have really gone into the mortgage industry and are now
successfully a productive loan officer? Yet each of those people and
many not pictured have all paid "BIG" money to have attended their training.
Just something to think about.
If I were to give any type of comparison of our material to theirs,
I would say this. Our material is subPrime specific. It not only covers
what their 5-day coarse does but also the more advanced material that
they keep making reference to. Our material is a complete condensed
collection of information and knowledge, equal to approximately 2.5
- 3 years of experience one would learn on the job.
Our material has been written by a board of loan industry experts. The
Mortgage Academy can't compete against this other school if they are
promising you a job after training. I understand that you are looking
in Arizona to work. But again, be careful. Most companys, if they want
to hire you, will also train you without charging you for training.
I can only restate our policy we have operated by since the beginning
in 1989. If any of our clients have questions or concerns as they go
through any of our educational books, they are able to call and speak
directly to us for direct assistance. We at this time don't charge for
this. We are SubPrime Lending experts. In the past, we even had the
Washington Post newspaper ask us to assist them with a major investigative
story on predatory lending because of our reputation and knowledge of
SubPrime.
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