How can I learn the mortgage broker business without working for a mortgage company ?
608115
I belong to a company thatwrites loans in 47 states. I am an indepemdent loan officer. You can view my site at \nhttp://www.nlcofhollywood.com/jgottschall\n\nIt sounds as though this may be what yur looking for.\n\nGood Luck
150142
mortgage lender is one who physically gives you the loan (i.e. bank of america, wells fargo, etc.)  Mortgage broker is someone (middle-man) who goes to the lender and negotiates a loan for you.   They will find a loan that fits your situation to include the rate you want, payment, length and so on.  They get paid on a premium from the loan they sell you.  The best part about using a broker is  they can usually get you approved for just about any situation credit-wise, though some brokers can't get you the most 'ideal' rate, but some can.  A good broker you might try is Quicken loans.
678196
Try this one (I cannot vouch for them...I found them online):\nBecome A Mortgage Broker  \nLearn the business from an industry insider. Start your career now. Unlimited income and freedom are within your grasp. \nwww.mortgagebrokertraining.com
185328
Your income is unlimited!!!!  That being said, you need to work real hard.  You need to be willing to tell everyone that you know that you are now a loan originator (I prefer to say that I am a mortgage consultant).  You need to project yourself as "serving" not "self-serving".\n\nYou should make sure that you are working with people that are willing to help you out as well.  It's worth it to take less money in the beginning to work with someone who know's the ropes.\n\nGood Luck!
1077092
No. You work under the mortgage broker's license.\n\n**** The guy below who said to ignore me and the other person who answered your question is ABSOLUTELY WRONG. NONE of our Loan Officers are "licensed" and they don't have to be. I work for a broker in AZ and previously worked for one in TX. Brokers ask for nothing of the sort. Maybe CA is different, you should research the state that you live in. Even with the major lenders, like the one my husband works for which is Countrywide, does not require or even ask for a license. They train new hires like any other job would. Like I stated before, you should research the state that you live in. I highly doubt you'll need anything though. I've been in the biz for years and never heard of such a thing. \nFYI*** There are scams out there that give all sorts of "lisences" online which are jokes. Some car dealerships do the same thing to inexperienced sales people, they make them take a $400 class thats really just a waste of time. As an LO, you'll be TRAINED to read rates and choose programs. The guy below sounds like your average sucker.
961268
go to a mortgage broker.\nbrokers are in bussiness to help people like you.\nwe have access to more lenders and progams then you would be able to find on your own. \nask around for a reputable broker in your area! \ngood luck!
713257
To begin with, most provinces require that property managers require a real estate license specializing in property management if you are dealing with homes that you do not personally own. I also believe that you would have to hold, or work under the umbrella of someone that holds, a real estate broker's license. Most provinces require that you hold a real estate license for at least 2-3 years before you can get your own broker license. Check with the Ontario Real Estate licensing body... any local real estate office could give you the phone numbers for licensing requirements.\n\nNext, you will need to carry Errors and Omissions insurance, which is usually mandatory for all licensees. This will help protect you for eventual costly mistakes. It is usually about $300/yr.\n\nYou would need a contact management software program as well as a property management client program. Also, a separate trust account is likely mandatory.\n\nAnd last, but for sure not least, if you want to make money... lots of money... learn to prospect for clients. The least expensive, most efficient, is where you actually talk to potential clients instead of sending out ads or print advertising... Obviously, I'm refering to finding landlords here, not tenants. Search the old classifieds and ads. Ask all of the Realtors in the area who they know that have tenant occupied properties. Pay special attention to out of town/province landlords. Another source would be vacant properties for sale... and overpriced listings. Maybe they'd rent them out instead of selling. \n\nThis is just the technical start-up... you should also have some business sense, a good accountant, a location, pager/cell phone, etc. Office supplies, including a photocopier are important too. Good luck!
277134
This is tricky and I would recommend co-brokering with a licensed real estate firm. You can get a referral fee.......\n\nThere is a reason why certain professions have licensing requirements and that is to protect both the consumer and the professional. If the deal goes sour, you will have no protection and the customer could refuse to pay your fee at close since ur are not licensed and he may threaten to expose the fact...people will say/do anything to get out of their obligations.\n\nCo-broker the deal with a licensed agent/firm.....just find a teeny-tiny one that will not make a fuss about paying out ur referral fee.
1032398
I think you have to have a real estate license to sell homes and work with a Realtor, not a mortgage company
366530
There are a series of exams that you would have to pass to become licensed in the US.  Brokerage houses are nearly always searching for new representatives though, and Edward Jones in particular encourages you to open and operate your own office under their name (I don't know exactly what the franchise agreement involves, but I'm sure they would be willing to discuss it with you)
716698
Yes, i am a licensed mortgage broker licensed nationwide..\n\nFeel free to contact me at any time!\n\nJason
455268
I assume you are seeking to become a mortgage loan broker?\nIf so, just look under the yellow section in your phone book and call any real estate school.  They generally offer courses also on appraisers, home inspectors, Realtors and mortgage brokers.  Check out their pricing as they all differ and the State you live in will have an examination you will also have to pass.  First you should consider the amount of loan brokers already in your area - there is some steep competition out there for all these fields.
629715
What is your goal?\n\nGeneral learning = a local community college.  \n\nBecoming a realtor = real estate school classes (offered through real estate brokerages like Century 21).  \n\nBeing an investor = attend foreclosure sales, ask questions, buy books (avoid expensive classes).\n\nEmail with any questions.  Best wishes,\n\nJared
1177499
You can always negotiate mortgage terms.  Origination and interest rate are negotiable.  Remeber that the loan broker has a family and a job as well.  On that note if they wish to continue to do buisness it is in their best interest to take care of you.  Origination points are not the only area of concern.  Title companies overcharge at times as well and less shopping is done for them.  There are sometimes junk fees on the loan as well.  If you want me to look at it (licensed mortgage broker) I will.  I have nothing to lose if you are not in a state I do buisness and if I am I will walk through the shopping process.  Smart customers always shop but you need to know what to look for.  Let me know.
239189
It's not easy, and without more information I cannot give you direct advice. But visit the mortgage Professor - you'll find a link to his website on mine.\n\nSee source pages below.\n\nGood luck!
1182230
I've never used them but I've closed for clients several times where they were the lender.  They were about average, comparable with most of the other lenders who were not banks.\n\nMortgage brokers are good to deal with if you have credit problems or income issues.  They have many loan programs to choose from and can help you find a loan that will work for you.\n\nIf you don't have credit problems or income issues then I've found that it's best to deal with a bank rather than a mortgage broker.  The banks charge less closing fees and their rates are usually competitive with those offered by mortgage brokers.  The interest rate might be 0.25% higher but the fees are usually lower by sometimes hundreds of dollars.
339953
Call a random mortgage company and ask them this question.