Classes Starting Soon – How To Become A Mortgage Loan Originator
Have you ever thought about joining this multi-billion dollar industry but don’t know how? What are some of the pros and cons about this business?
If you grew up like me, you were probably taught to go to school, get a degree and then a nice 9-5 job, work there until age 62 and retire. That’s not a bad plan.
But if you ever thought about owning your own business and having the opportunity and freedom to control both your finances and your time, you may want to consider becoming a mortgage loan officer.
Here are some benefits:
Low cost of entry. Most self-employed businesses, even franchises, can cost thousands of dollars to open. To obtain a mortgage education and license? Around $1,100.
Unlimited earning potential. It is all commissions, so the more you do the more you earn.
Control of time. It’s your business, so you decide when and how much to work. There are no time clocks, no set hours, no request for time off and no set maximum of vacation or sick days. If you need to get out of the office to attend your kid’s soccer game, go right ahead! However, this can also be a con of the business, since it is easy to not put in a full time effort and prioritize things other than work. The unlimited income statement above can also mean the less you work the less you will earn.
Opportunity to grow within the business. There are a number of other positions within the industry you can strive for, such as Sales Manager, Branch Manager, Independent Owner. You can also migrate to the banks or credit unions.
Opportunity to grow outside of the business. Because the business involves a lot of networking, you will encounter many other opportunities. For example, I owned a Subway franchise because one of my clients was the Regional Director here and offered me a store.
Fairness in the workplace.
How many times has a friend told you that they did not get the promotion they deserved because someone else did a better job of cozying up to the boss. That is not going to happen in this business.
Where would someone start? There is a two-track approach. The first track is to get your NMLS license. This involves taking a 20-hour course online and then sitting for the national/state exam. The second track involves a three-week crash course on the day-to-day operations and procedures of the business.
Control your destiny! Don’t just settle for a conventional career! If you have great social skills, if you are motivated to succeed, if you are disciplined in your own efforts, then this may be the business for you! Send in your resume for the next class starting on August 29th!
Roland Shar
Hawaii Regional Manager
Direct: (808) 222-2411
NMLS ID: 316270
