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redsk1 · 01-22-2007, 12:04 PM

I am a mortgage banker in VA. This is my 6th year in the business. I really like the mortgage business but it's very competitive and can be very cutthroat. In general, their are no licensing reqt's (kind of scary) and you will be 100% commission (but you are most likely used to that).

As far as leads are concerned every LO does it differently so you will have to determine your best way: realtors, networking groups, friends/family, advertising, purchasing leads, and so on. Be prepared to invest in yourself and your business, b/c you are basically self employed. This is of course, if your company doesn't provide you leads.

You can do well in the mortgage business, just don't believe it when some tell you it's easy and you can make a ton of $ in your first couple of years. Some can, but for the most part its a struggle to survive. It takes alot of hard work and patience but it can be done. Hope this helps.

01-22-2007, 12:04 PM	#2
redsk1 The Starter Join Date: Oct 2004 Posts: 2,351	Re: Any Mortgage Loan Officers/Brokers here? I am a mortgage banker in VA. This is my 6th year in the business. I really like the mortgage business but it's very competitive and can be very cutthroat. In general, their are no licensing reqt's (kind of scary) and you will be 100% commission (but you are most likely used to that). As far as leads are concerned every LO does it differently so you will have to determine your best way: realtors, networking groups, friends/family, advertising, purchasing leads, and so on. Be prepared to invest in yourself and your business, b/c you are basically self employed. This is of course, if your company doesn't provide you leads. You can do well in the mortgage business, just don't believe it when some tell you it's easy and you can make a ton of $ in your first couple of years. Some can, but for the most part its a struggle to survive. It takes alot of hard work and patience but it can be done. Hope this helps.