What’s the best way to get started as a mortgage loan processor?

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I am in the NAVY with about 10mos. left and looking for a job I can get into when I get out. I have no experience and don’t know if I need to be taking classes or something.

  1. Reply
    January 20, 2011 at 12:25 pm

    Generally with no experience they will start you as a Jr. Loan Officer or in the cold call room – basically making appointments. You move up from there. Most companies will train. I’m in AZ though, other states may actually require classes.
    Another area to consider is Escrow. It can be good $ , but long hours – which is why I stopped.

  2. Reply
    Ariel P for a teenager, no way..
    January 20, 2011 at 12:38 pm

    The best thing is to work part time on any thing so that the flow of money is at least going. Then ask yourself what is it that you really want to do full time? Ask a lot of questions regarding this particular job and this other job or that other one? loan processing is not a short time job to learn. You have to devote your time learning and exploring because if you made a little mistake, you’ll get nothing, you could be sued, they live in commission only, especially right now that the market is hardly moving in that area. But the best, best thing is that there are school for technical in medical field that only requires18 months or 12 months and they will train you completely. There are hospitals that provide training inside their facilities and also programs with senior center to be trained inside the hospitals. There are also programs in pharmacies, maybe 18 months training. And if this really is not your thing, but becoming a loan officer, investigate first. I hope this could help…

  3. Reply
    January 20, 2011 at 1:15 pm

    How to listen to people’s bullsh*t!

  4. Reply
    January 20, 2011 at 2:10 pm

    1st – You must know your company products inside and out. You also must learn quickly how the loans are underwritten because your loans will fly threw faster if you underwrite them yourself first and send them a clean and worked file.

    2nd – Organization is very important.

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