A Community for Mortgage Loan Officers

Do they require 2 years union experience or just two years in the trades?

I’ve spent $10,000 with Zillow over 6 months and barely broke even, felt like I was working for free. I did build a strong realtor relationship with one connection I made, so got a few more deals from him, so I guess better than break even…

How long as he worked for a union? You should be fine income wise going either conventional or FHA, conventional treats multiple W2’s from union work as if it’s a single employer, as long as they are currently on a job and not between jobs. It’s an exception to the normal guidelines similar to how t...

I’ve had my best luck asking for a “reconsideration of value” and providing something factual either incorrect or missing from report. Usually pointing things out on the comps won’t impact value, but items either not listed or incorrect on the subject property have a fairly good chance. I’ve had bes...

Hello, thank you for visiting! My name is Ben, I am a loan officer with 13 years experience and still learning something new every day. I started this community to continue learning from others. The power in a community comes from sharing and supporting others, please join us and share your mortgage...

There is a local lender giving out preapprovals with a 'cash guarantee' basically promising that the buyers are already completely approved, and the offer is as good as cash. Obviously it's not work the paper it's printed on, but realtors seem to eat that shit up! How do you guys deal with things li...

Has anyone been profitable over time buying Zillow's lender leads? I like that they don't sell the same lead to multiple lenders like some companies, but I've had a tough time making the numbers work. Seems like I'm always around break even, and just working for free basically.

I'm with a small correspondent lender, we has used Surefire as our CRM and decided a few months ago to move on due to their acquisition by a private equity firm and subsequent price gouging. Shape rose to the top of our list due to the excellent sales team, who basically told us what we wanted to he...

There is a lot of varying terminology around different loan types, this breaks down the basic categories that all mortgage loans can fall into. Saleable Mortgages and Conforming Mortgages Saleable mortgages are also called conforming loans, meaning they conform to standardized underwriting guidelin...

I wrote this with the intent to help someone with zero experience in the mortgage industry have a framework for exploring the different career paths. Mortgage loan officers (a.k.a mortgage loan originators, MLO's, and LO's) assist borrowers in obtaining mortgage loans for purchasing or refinancing ...