Good time for a loan officer in Texas? ?

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I am with this problem in an appropriate category …. I am eager to start a new career. I have some experience working as an assistant for a title company escrow and have always had an interest in the company. I came across a company that will train me a loan officer and I have to work at home. I know this is a work of the Commission’s function. I worked for almost a year to sell AT & T door to door strictly Commission and am not afraid of work of the Commission. My question is, with the economy the way it is right now is the time for a commission based job as a loan officer for a mortgage company to put in place? I do not want to waste my time. You know what I mean?
I am eager to start a new career. I have some experience working as an assistant for a title company escrow and have always had an interest in the company. I came across a company that will train me a loan officer and I have to work at home. I know this is a work of the Commission’s function. I worked for almost a year to sell AT & T door to door strictly Commission and am not afraid of work of the Commission. My question is, with the economy the way it is right now is the time for a commission based job as a loan officer for a mortgage company to put in place? I do not want to waste my time. You know what I mean?

4 Comments
  1. Reply
    mister ed
    February 12, 2011 at 5:14 am

    i think with the bale out and the other steps that being taking it would a great time — i can see the housing market really take off!!!

  2. Reply
    liveinaustin
    February 12, 2011 at 5:22 am

    As long as you have saved at least 6 months of your expenses, you can conside it. But, the market is down almost across the board and there is a glut of both real estate agents and mortgage brokers who are starving right now. Money is tight and things will certainly get worse next year, so if I were you I’d hold on to a job where you have steady income and hopefully health insurance.

  3. Reply
    suz
    February 12, 2011 at 5:26 am

    I am a commission based mortgage originator at a local bank. My income has dropped off considerably in the last two months. People are not applying for loans right now at the rate they were this time last year. If you have not been in mortgage and already know the rules and how to work it. I would seek another profession. This is a dog eat dog job. There are many mortgage originators on the streets right now hunting for jobs. I am lucky that I work for a bank and not at a mortgage retail business. My job security is not guaranteed. I wish you the best of luck and if you decide to pursue the job offer. You can shoot me a question any time at joysuz1498@yahoo.com. Good Luck

  4. Reply
    Ed Atun
    February 12, 2011 at 5:51 am

    This is the absolute best time to learn the business. In the “boom” times no one was available to do any training. Every new loan officer was left to “sink or swim” and most sank. If you get the training now, you will be in excellent shape when the good times return. They always return. I would recommend that you “sub” one day a week at a local escrow company as an escrow assistant. Those people will refer all business to you when people enquire about loans..

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