I Need Some Advise

Updated on March 03, 2007
T. asks from Grand Prairie, TX
4 answers

Good morning ladies, I have been toying with the idea of becoming a loan officer, and working from home. I'm wondering if any of you are, or know of any loan officers that work from home. I just need to know what direction to start in. I have already found the school I want to attend, and have spent hours on the internet reading any and all articles I can find on being a loan officer. I understand that it won't be sunshine and butterflies from the beginning, but is it worth pursuing in the first place? I want to make sure I have all my ducks in a row before I jump off into anything. I’m really excited about it, and my boyfriend/father of my daughter is behind me 100%. I just don’t want to get my hopes up that it will all work out, and end up letting everyone plus myself down. Thank you in advance for your thoughts and opinions. Take care

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K.M.

answers from Dallas on

Good Luck with your decision. I was a loan processor for a year and could not stand it. Loan Officer's DEPEND on having a good processor my family's business was running a contracted loan processing business. You can certainly do it from home so long as you block off at least one day a week that you will be child free so you can go meet clients. It's a high pressure business and you have to be able to handle a TON of stress and deadlines on top of calming clients (borrowers) down when things dont go right. It can be fun but you have to enjoy stress and chaos for the mortgage business. I enjoy controled chaos but there was no controlling that chaos for me. Good Luck it's a fun business but not for everyone.

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L.C.

answers from Dallas on

T.,
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E.W.

answers from Dallas on

I have a friend that did this quite successfully and is now a mortgage broker. If you would like to speak with her, please e-mail privately and I will give you her number.

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R.M.

answers from Dallas on

T.,
It is a tough job. I worked in the closing department of a large Mortgage Company in Houston and it was my job to make sure I had all the loan officer's paperwork. I felt sorry for them because of the stress. They would have to get documents or information immediately with no warning & You can never be sure that the Mortgage Closer's are going to want the same information, they could ask for something you have never had to provide before. First of all before considering going any further with this, is answering the question, do you want to do high pressure sales? Loan Officers have to get their leads and work off percentages and it is a dog eat dog world. If houses are not selling, you will be under pressure. I did end up working at home for the mortgage company, checking files for missed info after closing. It was not as stressful. It would probably only be a very small company that would let you work from home as a loan closer. They do make very good money though. Also, at the larger Mortgage Companies, Most closers do have assistant's and they were always able to schedule their work, where they could take off to go to any of their kid's social events, PTA, etc.

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