Loan Officer Business Plan

And yes, you may not have to work very hard in the traditional sense, or take part in any back-breaking work.

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It seems most of the smart money already refinanced, or made home purchases before values went up.

And many of the remaining deals are tricky and/or riddled with hurdles and low credit scores.

If you're a startup, your chances of getting a bank loan are actually pretty slim.

That's because banks are required by law to support loans with assets--called --that protect the bank against a loan default.

But once you get a taste of the money you may have trouble walking away, no matter how high the stress and quality of your life. They want to leave, but they can’t because they know they won’t earn as much elsewhere. All that aside, let’s look at a loan officer’s typical day, not that any day is ever typical…

First off, a loan officer may be referred to as a mortgage planner, lending officer, MLO, mortgage specialist, dedicated lending associate, loan consultant, loan agent, mortgage professional, senior of any of these, or junior of any of these.

Or happen to be a financial advisor or a pro athlete. To make six figures without a high school diploma you would think you’d have to invent something or start your own business.

Not so – the prospect of being a loan officer has changed conventional thought, especially as the housing market shot off in recent years like a bottle rocket.– Loan Officer Job Description – Loan Officer Educational Requirements – Loan Officer Salary – Loan Officer Career Advancement – How to Be a Top Producing Loan Officer – What the Future Holds for Loan Officers So now as we lie in the wake of the housing bubble bust, are loan officers still making money?

Even if mortgage rates aren’t as low as they once were.

If a mortgage loan officer gets just one of those deals to go through, it often equates to a huge payday, sometimes as much as a few months’ salary working a minimum wage job or other lower paying jobs. But there are a number of questions you need to ask yourself before setting out in the mortgage industry as a loan officer. Sure, a mortgage broker or bank may tell you that it’s simple.


Comments Loan Officer Business Plan

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