Loan Originator Job Questions & Answers

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I was offered a job as a mortgage loan originator. I passed the required course and take the state and national test next week. However, I've read bad things about the job... that it has a high turnaround rate and it's mostly sales. They offered salary plus commission and I have the leads given to me. Is this a viable career choice? I don't want to regret accepting this job.
1 answer - Asked By: Amy - 3/25/2013
I applied for a position for a mortage and real estate company as an appointment setter/loan originator, I need more sales and customer service experience to go where I wanna go in the career industry I'm looking into. Any advice??
1 answer - Asked By: just some girl - 7/14/2008
I had an interview with a lending company and they are doing a credit check. My credit is pretty bad. Does anyone know what the minimum credit score is to be a loan originator? Thanks!
4 answers - Asked By: johanna71983 - 8/22/2006
If you have any info on this that would be great. If there's any programs out there in Canada thatr alow you to be a loan originator and work from your home office, like you can in the states. Please advice me where i should look. Thanks
1 answer - Asked By: NeedInfo06 - 3/6/2006
I am just starting out a job as a loan originator and I need business bad. I am young and I am not exactly the most experienced. I have excellent contacts but I am looking for a steady flow of business. If you have experience with leads or know some good websites please help me.
4 answers - Asked By: deserae007 - 5/15/2006
I am a mortgage loan originator and am setting up a marketing plan with some preferred customers. I am waiving my standard 1?rigination fee and want to convince my prospects that I will not attempt to make that percent up in yeild spread. So I need some documentation that proves my usual 2?n the back is well within industry norms. Anyone know where to find this kind of info?
3 answers - Asked By: petemc67 - 5/11/2006
I'm working full time (average about 48 hours a week) and i'm taking 9 hours (which is all i can take) at a traditional university at the moment. My job is a temporary and i'm trying to finish school to have a back up plan so taking only 9 hours a semester is going to take me about 3 years to finish, which may be too long. So anyways University of Phoenix and Devry would allow me to get a degree a lot faster but i'm not sure if many employers would hire me. By the way I want to obtain a degree in Finance or Information Technology. And pursue a career as a Real Estate Broker, Loan Originator/Officer, Financial Advisor, or Database Manager.
7 answers - Asked By: Prty Blk - 10/5/2007
I'm looking to become a loan originator. I have no experience and live in Reno,NV. I currently work from home and would like to be an LO from home as well. I have spoke with reps from many companies inculding NLC, MFG and HBW they all seem to be MLM type of programs or don't hire in NV. I am a fast learner and am willing to make an investment in the right opportunitty once I find it. I would appreciate any advice on other companies and even personal experiences with the companies listed above. Thank You.
3 answers - Asked By: tricia 4915 - 5/30/2007
I have this oppurtunity to get licensed. But idk how the market is and if it will get better or worse. I have no doubt when it comes to the job its self but is it worth it?
2 answers - Asked By: Nathan Westfall - 7/23/2011
How do I learn to be a loan officer/originator? Hi. Im in san diego and need to learn the trade quick for my company. Does anyone know of schools or training that are short or intensive in san diego county?? thanks so much
1 answer - Asked By: wjaur - 4/30/2013
I have weekends and some nights free every week. I work pretty efficiently, and I'm thinking about getting into the mortgage, loan origination, or insurance brokerage industries on the side. Has anybody done this? Is it possible? Any resources you would suggest? I'm really competent with the internet and building websites, and I have a large local audience that I can advertise to. If not, are there any other jobs to think about?
1 answer - Asked By: HelloStranger - 9/14/2008
I started working in collections with a mortgage company about a month ago. It's something I can hang with for a while, but I also don't think calling people all day that are late on their mortgages is the "ideal" job for me. Are there any better jobs in the mortgage industry (or in finance) that I can set my sights on? As a side note, I got my bachelor's in "General Business".
2 answers - Asked By: Dylan - 7/23/2011
I am going to buy a fixer upper and want to customize the house as per my specific needs. How do i obtain financing for the remodeling since I will have only 10?quity (which is the downpayment) in the house? Does the remodeling company offer financing? Can i get a loan from the mortgage company itself to remodel the house? I don't have equity in the house so if there is a provision to do something like this then can someone please explain it to me Thanks
4 answers - Asked By: Vishal - 6/8/2009
1 answer - Asked By: Buttah - 3/5/2007
I was wondering on how much the mortgage ppl make a year or about. And is it a good job to have with good benifits and bonuses?
3 answers - Asked By: Braulio - 1/13/2012
In other words, once all stips that are asked for are met, the loan is funded?
2 answers - Asked By: Pati - 6/26/2010
My husband and I are first-time home buyers, who need credit and downpayment assistance. Where we live is now medically unsuitable for myself and my children (old house, mold and dust issues), and we both work two jobs. However, we can't seem to make the $10,000 to $30,000 downpayment required for many home loans. Help!!
5 answers - Asked By: Judy W - 10/21/2006
I am going to work as a loan originator for a small company but I am having trouble finding potential borrowers. I thought leads would get me off to a good start until I make better contacts. I am young and unexperienced and this is my first loan/mortgage related job, so I need as much advice as possible. Please help!!!
4 answers - Asked By: deserae007 - 5/31/2006
Is it difficult? can a person of average intelligence learn to do this? How long would it take to become one if you were shadowing a processor?
2 answers - Asked By: redwine - 2/9/2007
How do you get a job posting all these foreclosure notices on people's doors??
1 answer - Asked By: JB - 8/9/2009
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Typical Salary for Loan Officer
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Develops loan applications by evaluating applicant information and documentation.
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Size of Industry in 2006:
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