Please don’t block me! I just have a lot of questions! I’m excited about entering the field and it’s also exciting to see someone who looks like me that’s experienced in the field!
I am a realtor and I am preparing for mlo license. Good situation! I'm the only agent that will have mlo. I would like to be independent. Is there a website that helps bringing lenders and MILO'S TOGETHER?
You can but you have to discuss that with you manager. You would need to be able to have access to your email and phone throughout the day to ensure a smooth transaction for clients because urgent matters may arise.
Would you suggest that a new comer work for a bank to gain experience? And is your goal to open your own brokerage company or have you thought about it?
I recommend 100% commission with a lender or broker of your choice. The environment of working for a bank and lender are two totally different experiences so if you eventually try to make a switch you will feel the learning curve all over again. Because working with a bank as a non licensed loan officer is a different experience than working as a state licensed loan officer with a lender. You'll even find that experiences are different with various lenders. Continue to research and once you make your decision you can see what works, switch again if needed and find what works for you best.
I decided this is the career path for me im going to take the nmls test soon just wondered if it makes sense to get licensed in multiple states before looking for sponsorship/job or should i just stick to my home state CA and gain licenses as i go. Would it make me more competitive? I really want to break into this field. thanks for your time
Hey congrats. Your branch and company has to be licensed in the states that your licensed in for you to do business in those states so you would want to have a company sponsor you first and have a conversation about the additional states you wish to be licensed in. Hope that helps.
Would you suggest someone that’s just getting into the industry to invest in marketing materials (ex. Business cards, headshots for photos attached to their material)? I’m thinking MLOs are similar to Realtors in the terms of marketing. Your see the big billboards with their professional pictures. They pass the business card with their pictures on them. And you suggested networking as one of the things for a newbie can do.
Usually business cards and promotional material like flyers are provided by your company. Additional fees may apply. Yes, will want to have a headshot.
Please don’t block me! I just have a lot of questions! I’m excited about entering the field and it’s also exciting to see someone who looks like me that’s experienced in the field!
Looks like she didn’t answer
I actually love long videos!!! Give me all the knowledge, make a movie 😂😂😂
Thank you! Thank you! Lol
As a MLO, can you work with multiple lenders or are you restricted to the lender that sponsors you?
Which career is most lucrative, an mlo, a mortgage broker or a real estate broker?
It depends on the individual and their volume.
I am a realtor and I am preparing for mlo license. Good situation! I'm the only agent that will have mlo. I would like to be independent. Is there a website that helps bringing lenders and MILO'S TOGETHER?
My understanding is that this is usually not accepted bc it’s a conflict of interest.
Do you think it’s possible being a part time MLO?
You can but you have to discuss that with you manager. You would need to be able to have access to your email and phone throughout the day to ensure a smooth transaction for clients because urgent matters may arise.
Great vid !
Thank you!
Would you suggest that a new comer work for a bank to gain experience? And is your goal to open your own brokerage company or have you thought about it?
I recommend 100% commission with a lender or broker of your choice. The environment of working for a bank and lender are two totally different experiences so if you eventually try to make a switch you will feel the learning curve all over again. Because working with a bank as a non licensed loan officer is a different experience than working as a state licensed loan officer with a lender. You'll even find that experiences are different with various lenders. Continue to research and once you make your decision you can see what works, switch again if needed and find what works for you best.
I decided this is the career path for me im going to take the nmls test soon just wondered if it makes sense to get licensed in multiple states before looking for sponsorship/job or should i just stick to my home state CA and gain licenses as i go. Would it make me more competitive? I really want to break into this field. thanks for your time
Hey congrats. Your branch and company has to be licensed in the states that your licensed in for you to do business in those states so you would want to have a company sponsor you first and have a conversation about the additional states you wish to be licensed in. Hope that helps.
Would you suggest someone that’s just getting into the industry to invest in marketing materials (ex. Business cards, headshots for photos attached to their material)? I’m thinking MLOs are similar to Realtors in the terms of marketing. Your see the big billboards with their professional pictures. They pass the business card with their pictures on them. And you suggested networking as one of the things for a newbie can do.
Usually business cards and promotional material like flyers are provided by your company. Additional fees may apply. Yes, will want to have a headshot.