The
Role of a Mortgage Broker
A Mortgage Broker is any
person who receives an application from a perspective borrower for the
purposes of making a mortgage loan from that person's own funds or from
the funds of another person.
Basic Requirements for
getting licensed to become a Mortgage Broker: (May vary state by state)
1. Be an individual who is at
least 18 years of age
2. Citizen of the United
States or lawfully admitted alien
3. Maintain a physical office
in the state you are doing business
4. 60 hours of educational
courses
5. Pass a state exam
6. Be sponsored by a licensed
Mortgage Broker
7. Not have been convicted of
a criminal offense
8. Pass a criminal background
check
To
become a Mortgage Broker you must first begin your career as a Loan
Officer. Starting your career is as easy as getting sponsored by a
Mortgage Broker.
First,
obtain your Mortgage License. Or you can work for a Mortgage Bank
working under their license.
Mortgage
Broker Salaries
Salaries
for Mortgage Brokers can vary. However, successful mortgage brokers
can earn an average of $300,000 to 1Million Dollars a year.
Mortgage
Broker Training
There
are many Mortgage Schools around the country. However, a fast way to
get into this industry and earn-while-learn is to sign up with a
company like Newkey Home Lending. They have an in-house training
program and will help to partner you up with a Loan Originator who
will mentor you.
To
learn more about the opportunity and the income potential, watch the
free video online.
