How To Become a Mortgage Broker

The mortgage industry accounted for $1,815,949,279,000 in loan transactions in 2004. That's one trillion, eight hundred and fifteen billion, nine hundred and forty-nine million, two hundred and seventy nine thousand dollars... in one year!

Mortgage brokers average better than 1% commission on every transaction...so a conservative estimate is $18,159,492,790 to the mortgage industry in commissions last year. Eighteen billion is a lot of money to go around.

Consider a profession that doesn't require any formal schooling yet offers a six-figure plus income potential to any broker who wants it.

Here's how the business works...

A mortgage broker acts as the middle man between a borrower and a lender. The broker bridges the communication gap between the technical requirements of the lender and the non-technical demand of the borrower. And here's the best part...mortgage brokers get a cut of every loan they close.

The upside for this profession is nearly unlimited. Once you've reached a high monthly income level from your mortgage commissions you can move into other areas of the business and make huge amounts of money.

Buying second mortgages, funding choice loans yourself and buying real estate investment properties are just a few examples of the opportunities for expansion that are available to successful mortgage brokers.

If you're ambitious and want to become truely wealthy this industry will afford you every opportunity to do so.

The mortgage industry does, however, require that you master three important skills before it will reward you with success.

You have to be able to sell.

This is ultimately a personal business. You will be dealing with people every day. Knowing how to relate to all kinds of people to make sure they are comfortable during an unfamiliar and very important process is vital. Sales skills are essential to your success as a mortgage broker.

Prior sales experience is helpful but not necessary. Regardless of your sales skill level you should commit to continuously learning everything you can about sales.

You have to understand loan processing.

Processing a loan is an exercise in navigating a bureaucracy. It takes patience and a different mindset than you need when you deal with your clients. Put in the effort to make the personal relationships with decision makers at your favorite lenders...it will pay off in concrete, financially measurable, ways.

The best way to establish yourself as a professional is thorough expert knowledge. Study the loan process from front to back and really learn the in's and out's of funding a loan. It will give you insight and perspective on the business that will enable you to offer better service, faster closings and a smoother process to your clients.

You have to use effective marketing.

Without effective marketing you won't have any prospects to sell to. It's the marketing that brings in prospects. Your mortgage business, indeed...all businesses, depend on it for their very survival.

But marketing can do much more for you than help you survive. If done carefully, methodically and scientifically, marketing can propel your mortgage business to levels of financial success you never dared imagine.

Effective marketing can build a mortgage business into a cash cow...sales and loan processing can't. The greatest success in the mortgage business can be had the quickest by mastering the art and science of mortgage marketing.

This is a great industry. It offers all the opportunity you could ever want. True wealth awaits those who apply proven methods to their mortgage business.

Download your free copy of the mini-eBook "How To Become a Mortgage Broker". Gain valuable insights into the mortgage industry. Learn veteran mortgage broker techniques and strategies that are making successful brokers millions in commissions right now.

Download "How To Become a Mortgage Broker" for free at http://www.TheMortgageBrokerBook.com/freebook.htm


More Resources

Take the Personal Out of the Workplace: Leave Your Troubles at the Door!
Bringing your emotional baggage into the work place is inappropriate for all the reasons you may imagine. Yet employees, managers and business owners do it all the time.
What Do You Want From Life?
The tragedy for millions of people is that they never decidewhat they want from life and make plans for it. Life will provide whatever we demand.
Relocation Myths and Stereotypes
You've probably been taught not to stereotype people based on race, religion or sex. But when you make a career or other life choice, do you still make decisions based on stereotypes?Relocation Myths"Big cities are unfriendly.
Write And Get Hired
Want to get hired faster than up to 97% of other job seekers?Well, you can. By doing two simple things almost nobody else is doing:1) write down a job search goal and2) read it out loud 10 times a day.
Get That Job: Mastering Job Interviews
I've heard it said?in fact, it might well have been me that said it - there are few things more excruciating in professional life than the job interview. Job interviews are awful! Throughout my career I have attended many and conducted many more, and the truth is whether you are the candidate or the interviewer, job interviews are challenging and confronting and difficult - but you can not only survive but learn to be a masterful interviewee by developing an understanding of what it is the interviewer needs to see and learning to conduct yourself with clarity and confidence.
20 Ways to Advance Your Career
To survive and thrive in today's competitive environment, it is not just what you know. You also need to be competent.
Learn Some Useful Feng Shui Career Tips
As it does with every main life aspect, feng shui also provides tips and guidelines to help you improving your career. If your career is not moving on in the way you wish, that is due to a lack of balance and harmony within your environment and the elements that affect it.
Build New Habits -- Payday Will Come --
Feeling that it never works is not a good excuse. You may even remember last year not getting past February.
Business & Career: Know Your Ruling Star!
"Know your Ruling Star. One man is better received by one nation than another, or is one welcome by one city than another.
Tips For Surviving As A Corporate Refugee
In her book "Are You A Corporate Refugee", Ruth Luban associates "corporate refugees" with refugees who never intend to leave their home country. People who are uprooted from the familiar terrain, customs and native language they've known for a very long time.
Job Hunting Tips: Assessing Personal Value
A week out of work is a vacation. You can sleep late in the morning, revel in your newly found free time, shop when the stores are empty, and get around to those chores you have been putting off for too long.
How to Use Flow In The Job Search
What is "flow"? Flow as described by thepsychology professor and educator,Mihaly Csikszentmihalyi, is a state of being andbehavior. The behavior is one of complete absorption in a task.
Sweeping Up Worms
With the opening of a new venture and numerous reporters arriving in an hour, it felt like one of those "chickens with heads off" days. We were close, but not ready.
5 Simple Rules for A Great Job Interview
Many years ago, when I was a young job-searching greenhorn, I ventured to New York City to take a bite out of the big apple of opportunity.When it came to finding a job in a crowded city of millions, I quickly learned that it's much easier on one's sanity to sign up with one of the many employment agencies which helps job seekers looking for work.
Make a Good Living Doing What You Love
Don't let anyone talk you into going to college when all you really want to do is be a chef or tear apart a car engine.Some times our society pushes the wrong thing on us.
5 Resume Mistakes Telecommuters Often Make
Finding a legit telecommute job can be difficult. Telecommute jobs are in high demand and hundreds if not thousands of other people are competing for the same position.
Consultants - If We Cant Laugh At Ourselves?
There are hundreds of varieties of Consultants these days. We can find Consultants to take care of our diets, our physical well being, our mental well being, and pretty much anything you can imagine when it comes to business.
Thank-You Notes: Your Thoughtfulness will be Rewarded
I get asked these questions over and over: "Should I send separate thank-you notes to everyone who interviewed me? Can I just send one thank-you note to the hiring manager and ask him/her to thank others involved in the process?"The answers are yes and no, respectively.Send a separate thank-you note to everyone who interviewed you, whether it was an informal pre-interview phone call, an interview lunch meeting, or the final formal interview after a lengthy process.
Manage Your Boss - And Get Ahead!
It's clear there are a number of common issues faced by business people across totally unrelated industries and environments. This series was created to provide some perspective and guidance to executives as they negotiate their way up the corporate ladder.
How to Track Your Right Career
Are you lost in the wilderness when it comes to choosing a career? Once, we knew the way. As children, we played at different roles, but some became our favorites.

More Careers & Employment Information:

Related Articles

Take the Personal Out of the Workplace: Leave Your Troubles at the Door!
Bringing your emotional baggage into the work place is inappropriate for all the reasons you may imagine. Yet employees, managers and business owners do it all the time.
Job Interviews: Identifying & Using Your Most Important Asset
When you're looking to get hired or get promoted, what do you think is your most important asset? Your experience? Knowledge? Skill? Talent?While all of those are advantages that will help you achieve your goals, there's one thing that's more important than all of them combined.Your attitude!Let me illustrate my point.
Make Your Résumé Sizzle with Success Stories
In today's competitive job market you can't afford a résumé that fizzles. Power up your résumé with solid success stories.
Why a Professional Resume?
As a job search tool your Resume is your main calling card. It explains who you are and what you have to offer.
You Never Get A Second Chance To Make A First Impression
There is no easy way to define exactly what editors, publishers, PR managers, non-profit directors, advertising executives, and other industry professionals want from writers. There are no written guidelines, standard requirements, or official specifications that apply to writing jobs across the board.
Lost Your Job? Ten Ways to Bounce Back!
Whether you've been right-sized, downsized, underutilized, or just plain fired, looking for work is a life-changing experience that rocks your world. Regain your equilibrium with these ten strategies and get back to being your best.
What is Absolutely the Best Day to go on a Job Interview?
First of all, to fully understand and appreciate the answer, a couple of givens must be taken into account. What I believe to be the most important item for dealing with an interview successfully is, your attitude.
Nonverbal Interview Behavior
Non-verbal interview behavior can drown out your verbal self-presentation.Practice interviewing in front of a full-length mirror or, better yet, videotape yourself if you have access to such equipment.
Create a Network and Catapult Your Job Search
Networking is still known as a great job-search strategy, yet it eludes some individuals simply because they don't know how to go about it. Individuals also tend to shy away from networking because it's time consuming.
How To Pick The Best Career For You, Part 1
In Part One we'll look at how Positioning or "Coming to a Theater Near You" simplifies and expedites your employment hunt by reinforcing employer buy-in through justification of the sale.Rapidly gain employer agreement that you're the right person for the job by proving how their organizational needs are met through your specific abilities to solve their identified problems.
Working in Dubai
Dubai in the United Arab Emirates is one of the world's fastest growing employment hotspots in the world. Up to 20 new companies establish themselves in the emirate's free trade zones every week and since 2002 some 650 companies have registered in the Dubai Media City free trade zone alone.
Franchising Offers NO Guarantees --
You have to ask --- IS a FRANCHISE FOR YOU?There are NO guarantees. You invest your money and take your chances.
Network Now
Have you ever been to a networking event that was awkward, frustrating and nothing more than a business card exchange? In his book MANHATTAN SOCIETY: The Art & Spirituality of Networking, Chris London says "Networking with integrity creates a greater willingness of all parties to be part of a human conduit to serve as energy and resource to one another. Sometimes you will give more than you receive and sometimes you will get back more than you give.
Resume Writing - Get That Job
Looking for a new job, whether it is with a new company or a promotion within your own organisation, requires time and effort. To make your job search more effective you need to take five fundamental steps on the road to success:• Analysing your skills• Writing a winning Resume• Managing your job search• Coaching for interview success• Negotiating your job offerStep 1: Analysing your SkillsThe most crucial step in the job search process is to assess what skills you have to offer to your future boss.
Job Hunting Tips: Taking Care of Yourself
Looking for work is generally a miserable undertaking. No matter how much education and experience you have, you are in a powerless and vulnerable position.
Resume Software - The Hidden Pitfalls
Disadvantages of Resume SoftwareFormatA large majority of software requires the use of their format; most commonly using the chronological resume style. While the chronological style is certainly the most traditional manner to write a resume, it is not always advantageous for everyone.
Corporate World: Jungle Or Paradise?
The road to the top is not easy, it is bumpy and dirty. Along the way, we meet interesting creatures.
Searching for a Federal Job
Many years ago searching for a federal job was a long, complicated and drawn out process. Today, it has been become far less complex and is now just a three-step process.
Are You Eking Out a Living, and Cant Get What You Want from a Job?
Many people are working at jobs they don't wantand they hate to go there every day. Are you oneof them?Let's start by examining how you got into this kindof "pickle" to begin with.
Reinventing Yourself for Multiple Careers
In many countries around the globe, people are born into their station in life and hence their professions. It is unnecessary for them to plan a career as they are expected to perform one specific job their entire lives.