How do I become a Real Estate Loan Officer and Loan Processor?

Question:

Hi everyone, my question is in regards to getting started in the real estate business. I would really like to learn how to become a real estate loan officer and loan processor. I have tried to get some information about this on my own, but I just end up overwhelmed and unable to identify what I really need to do to become one. I don't really know anyone in the field and the few real estate agents that I have asked only tells me to go to one of their meetings, which I have gone to, only to find that they're just trying to sell me into joining their "team". Is this the only way to go? Or is there another option for me? I have searched online and found numerous classes that offer certificates, are these what I need to take? Should I be taking classes in a community college and earning these certificates or is online acceptable? Do I even need to take classes to earn a certificate and do I even need a certificate? Would I need a license to work as a loan officer and/or processor?

Answer:
If you're a strong sales person, you should be able to secure a position as a loan officer even without a history in the business. Many companies will train an aggressive sales person to do mortgages. No need to get a certificate. It's typically a commission based job (except in banks) so the companies risk is minimum other than training time. The only license needed is a solicitor's license (at least in NJ) and it doesn't require testing, only submitting an application and $100.00 (this is done when you are with a mortgage company, not before). It is a requirement to take loan applications. Once you are a loan officer, you can ask the company to let you sit with the processor for your fist few loans so that you can learn the complete process. I

t can be an aggressive field, like real estate sales where you need to really build up a clientele. Some companies provide leads, some do not. I've trained many loan officers with no previous experience in the business. Again, you need to be aggressive, a bit thick skinned and interested in constantly increasing your knowledge base. If you are looking to work directly with a bank and they won't hire due to inexperience, try mortgage brokers (everyone's looking for a good salesperson). Good luck!

How do I become a Real Estate Loan Officer and Loan Processor?

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