So You Want to Be a Mortgage Broker

by Ameen Kamadia

Book Overview

So you want to be a mortgage broker? Or maybe you're not sure yet. Let's imagine a little. Imagine a world, where you are your own master: You have the time to do whatever you wish. You have the... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 097537561X
• ISBN13: 9780975375617
• Release Date: January 2004
• Publisher: Kamrock Publishing
• Length: 145 Pages
• Weight: 0.50 lbs.
• Dimensions: 7.8" x 0.3" x 5.3"

Customer Reviews

Good Value for the New Person

If you are interested in getting into the mortgage business, either as a loan officer, mortgage broker, or even a banker than you should read this book. I have been recruiting new loan officers for the company I work at for 12 years. And this is the first work I have seen that gives all this information at such a low cost. Before I found this book, I had been sending all new recruits to a local mortgage/real estate school that has a class teaching this same material. The cost was $97 per day. Now I just tell them to get a copy of this book. For some reason everyone thinks getting into the mortgage business is all fun and games and that everyone makes tons of money. It's not. It's hard work and you must take it seriously. I am glad the author did not sugar coat in his book. In fact, the thing I like best is that the author writes using easy to understand language. There is very little mortgage jargon to confuse people new to the business. And what there is, is explained. The author is not a tradiontal author. He is active in the industry everyday and knows what he is talking about. This book covers the basics. If you have been in the industry for a while then the material is too simple for you. It's for new people or those still thinking of getting into the business. You get a behind the scenes look. What I wish the author did not cover was the ways loan officers make money. I feel that info should be kept secret from the public otherwise there is a tendency for unneeded regulation. But if anyone wants to know how mortgage companies and loan officers get paid, that is in this book as well. But for those already in the business, Chapter 9 is worth the price of the book by itself. Chapter 9 is titled, How Do People Choose Their Broker. And it is a review of a survey done of thousands of borrowers. The survery reveals what caused the borrowers to use the mortgage company they did. And also how they found out about the mortgage company they used. The marketing deptartment at my company found this info very useful indeed. To supplement the material, the author interviewed several people who are loan officers or company owners and got their advice on what new people should do once they get in the business. And here is mine: If you are thinking of getting into the mortgage business, first know what you are getting into. This book is a good source. Talk to people in the business already. See what they say. Talk to recruiters at a few companies in your area to see what positions are available and what your different options are. Make sure you get proper training. Either from your company or from somewhere else. Without proper training in the beginning you will spin your wheels for nothing. It is very important to get a good taste of this business in your mouth at the beginning or you will lose hope. Get the training. Then learn how to market yourself. And hang in there. At the end of the book, the author included two sales letters for his other

A Much Needed Resource!

I have been in the mortgage business for six years. I have my own mortgage company and make good money at it. One of the hardest parts of my job is recruiting new loan officers. It is easy to get people interested, but most of the time they do not know what they are getting into. When I started my recruiting program, I was spending hours describing the business and how and why prospective loan officers should join. It was annoying to be asked the same questions over and over. I figured there had to be some company that could help with with my recruiting. But I found none. What I did find was this author's training website. I tried some of their materials, and it made a world of difference. I no longer spend hours with people before they commit to working with me. When someone comes in wanting to learn about working for me, I tell them to get this book. Only after they read it and understand the business will i talk with them to determine if they are a good fit for my company. Because of this change in tactic, I spend 50% less time on recruitment and the loan officers that I hire are more knowledgable about the business. They also stay in the business much longer than the average because they know what they are getting into. If I had to write a book for new loan officers or people interested in working for me, this is the book I would write. In fact, I am going to start doing open seminars to attract people and I am going to be using the material in this book as the material in my seminar. Why reinvent the wheel when the work has already been done for you? The material is basic, no more no less. And if someone wants to be a loan officer, this is where they should start.

Excellennt information

I found this book very helpful. I had talked to several mortgage brokers and loan officers but they could not give me information I found in this book. I will reccomend everyone to get a copy who is thinking of becoming a mortgage sales person.