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	What is it like being a mortgage loan originator? 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

	What is the mortgage industry average yield spread? 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

	What is the difference between a loan officer and a mortgage consultant/originator? In job tasks and in salary/commission. Is there a difference? Or just it just 2 terms that describe the same postion ( generally) 3 answers - Asked By: Tanya P - 7/19/2007

	Does anyone have details on what a Mortgage Sales Originator does and how stressful it is? I'm thinking of taking a job to challenge me but I don't want to be overly stressed. As a mom of a 6 moth old I already ahve my share. I do get a base salary which makes it better I assume. 2 answers - Asked By: Alanna's Mom - 6/6/2007

	Should i be a mortgage loan originator in this ecconomy? 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

	What is the minimum credit score needed to be a Loan Originator? 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

	How much does a mortgage worker make a year? 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

	Is a loan originator good experience? What types of jobs consider this experience? 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

	Is working for a Reverse Mortgage company stable? I am considering working for a reverse mortgage company in the IT field but was not sure if the history of Reverse Mortgage was a stable work environment. Does anyone have any ideas, I have researched the company and they seem very well balanced with great benefits and they treat their employees well. Just wanted to know if anyone has any experiences in this field. 3 answers - Asked By: nycshadow214 - 3/7/2012

	What website can I go to, to find great mortgage leads for the d.c., maryland and virginia area, for cheap? 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

	How to obtain financing for remodeling a house that I just bought? 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

	Can I be a mortgage broker, loan originator, or insurance broker on the side? 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

	Does a mortgage underwriter review file then asks for stipulations, then ensures all stips are met? In other words, once all stips that are asked for are met, the loan is funded? 2 answers - Asked By: Pati - 6/26/2010

	Can anyone give me examples of institutional discrimnation? My stupid teacher told us we can't use the examples she gave in class or anything that closely resembles them. The examples she gave us are the following: Relinquishing Custody of children w/ mental illnesses due to family's inability to pay for treatment Wal-Mart gender discrimination Penn State and cover up related to sexual assault Priests and child molestation CVS knowingly keeps expired items on shelves Housing- not selling a house to someone due to their race (covert) Mortgage Originators- giving the mortgage to someone over another due to race Cash advance- traps the poor She gave us too many examples that the ones I find are similar to these Thank you Judith, however I need it to be a case. Someone has to have filed a case against the government. But I will look for such cases. Thanks Alex, but the Jeff Sandusky scandal was an example above 2 answers - Asked By: michelle - 11/18/2012

	How do I get a job as a reverse mortgage processor? I want to change my field of work and I do not know where to get trained. 2 answers - Asked By: roytan@sbcglobal.net - 7/26/2006

	Im mortgage originator but I will like to travel an do sales,what I need to do? Bilingual spanish+english with 5 years of sales experience just trying to find a different sales position traveling to latin america or south america. 1 answer - Asked By: guachkas - 5/5/2008

	What is the difference between a mortgage broker & a mortgage processor? 5 answers - Asked By: zenfullgirl - 1/15/2007

	How hard is it to get a job as a loan officer after you get licensed? For a bank and real estate? 4 answers - Asked By: LOVE - 7/27/2007

	Why is it that Americans cannot see that capitalism is destroying our country.? Don't agree?Perhaps you'd like to explain to the millions of unemployed people your theories as to how the financial institutions didn't screw them over.Or perhaps you'd like glorify capitalism to the millions who have lost their homes due to greed and corruption in those same institutions.Crony capitalism at its finest.We need a new system and we need it yesterday.Disagree or agree?Let's hear it. 4 answers - Asked By: MrHappy - 3/11/2010

	How did the real estate crisis contribute to the unemployment rate in America? Thanks! 3 answers - Asked By: Belle - 3/24/2009

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Mortgage Loan Officer

Salaries

$27,040.00 - $150,960.00

Typical Salary for Mortgage Loan Officer

(412 Respondents)

Source: Monster.com Careerbenchmarking Tool

Education / Training

Bachelor's

44.8%

Some College Coursework Completed

27%

High School

10.3%

Associates

8.8%

Master's

5.6%

(319 Respondents)

Source: Monster.com Careerbenchmarking Tool

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Mortgage Loan Officer

Increases mortgage loan portfolio by developing business contacts; attracting mortgage customers; completing mortgage loan processing and closing; supervising staff.

Rate of Growth

14.20 %

Size of Industry in 2006:

289,000

Source: Bureau of Labor Statistics, May 2006

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Mortgage Originator Job Questions & Answers

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