Why is it so hard to become a loan processor?

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I hated being a loan officer so I took a loan processing course online & got my certificate. Now, I’ve been looking for work with no results. There are hardly any entry level positions because most of these companies want experience in this field. Also, it seems the mortgage jobs have slowed down since the summer started. Does anyone have any suggestions? Does anyone think mortgage jobs such as loan processing will pick up soon?

  1. Reply
    Scott A.
    April 30, 2011 at 12:09 am

    no i dont think they will pick up… you probably want a new line of work… as you konw the housing market in many areas has signifigantly cooled as the fed has started raising interest rate to combat inflation… Not a good time to be a loan officer or any profession to do with loans

  2. Reply
    April 30, 2011 at 12:40 am

    If you were a loan officer you should know of the housing slow down, they aren’t going to hire in this market, if anything, they are letting people go. And no, don’t think it will pick up soon with rates rising and people losing houses left and right. I just don’t get it, with experience as a loan agent you shouldn’t have trouble being a processor, in fact, I can’t imagine why you took a course to become one. But, you are in for a struggle finding a job in this market.

  3. Reply
    April 30, 2011 at 1:26 am

    You must be getting a bad reference from your former employer. A mrgt originator stepping down to a processor should have no problems.
    You should be more than qualified..to process loans and put files together.

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