hah I got my degree in Sport Management too probably wasnt a good idea lol but your videos inspiring! I do phone sales right now was thinking about getting my MLO
Yes, there are some smaller Mortgage Broker shops out there who will take on a part time MLO. This will allow you to get a pipeline of loans going to build your bank account for a full time move. We have mortgage company clients Nationwide and can make an introduction for you after passing the exam.
What is the difference between what you do and working for a company like Rocket Money? I'm retired from the military and am interested in this as a career change.
Thanks for the question. I am a Veteran myself, served with the US Army, 7th Infantry Division and also went to the mortgage industry after my service. To be clear, I am not a lender like Rocket. I am a school that provides the required education and license training needed to become eligible to work for a company like Rocket Mortgage. Prior to getting hired to work as a mortgage professional you must compete a 20 hour training course, pass a background check and teste so you may apply for a state license. Once you have completed these items you are eligible for hire with a mortgage lender or mortgage broker. I would be honored to met you and answer any questions you have over a ZOOM if you are comfortable with that? You can email me directly and I can walk through all of your questions. My email is aaron@mymortgagetrainer.com Hope to meet you and thank you brother for your service!
Great video! May I ask when this conversation was recorded? Did he say those stats were from Jan 2020? I'm curious if MLOs have had to pivot since the downturn in the market. It's supposed to get worse, but somehow I don't think that will keep people from moving to more reasonably priced states where they can save. Thoughts?
It is from Jan 2020 and great question. Remarkably 2020 and 2021 were record years in the mortgage industry for most MLO's. 2022 has put pressure in the market but licensed lenders have excelled in taking most of the market. Bank MLO's who do not require licensing have seen a significant drop in the number of originators because licensed MLO's are taking the bulk of the market share. Good news is that once someone gets through the licensing class and exam they are able to license in as many states as they would like, assuming their company is licensed there. You are correct in assuming that MLO's are getting licensed in states that have more attractive pricing. The number of MLO's with 10+ state licenses is the fastest growing trend in the marketplace. Let us know if you have any additional questions about licensing, you may call my team at 317 566 0425 and we can walk you through to see if it makes sense. We even have companies we can introduce you to that are hiring Nationwide.
Looking to start a new career and have been considering becoming an MLO. Based out of OK, but open to multi-state licences. What is your advised first step for someone like me?
Jamie, would love to help! The first thing you need to do to become an MLO is take a 20 hour prelicense course, which can be found here: www.mymortgagetrainer.com Oklahoma also requires a 1 hour state law course that we can help you with as well. Once you complete the course, which can be done online over 7 days or a 3 day live webinar course (which I recommend) you can sit for the exam. Once you pass the exam I am happy to introduce you to a number of companies that are hiring. If you have any questions, call our office at 317 566 0425 and speak with someone form our team. I look forward to helping you!
Ok so he started with dads connections clearly. Probability handed him a few realtors. Ppl starting from scratch no matter how hard you try it will take more than 3yrs to get half the business he has
Thanks for the comment. He no doubt had some support from his father which every new MLO needs...a good support system,. That could also be a solid manager, mentor or a coach. I work with about 15,000 Mortgage originators on an annual basis and I have countless success and failure stories alike. The biggest challenge I see with new MLO's is failing to embrace the use of short and long form content to get themselves out there and noticed. Partnering with as many professionals that can refer business to them but not limiting themselves to only Real Estate agents. as with anything we try to be successful in life it takes effort...a lot of effort in order to find the success you are looking for. This is by no means a free ride where you get your license and suddenly you are a success. Again, thank you for the comment, I think you are correct in that anyone who is looking to this career should be prepared to put in some hard work establishing themselves and over time you will find your stride. Some quicker than others no doubt.
@@MyMortgageTrainerIncyou're points are valid, thanks for sharing some insight into what it takes to become successful. What the all too frustrated commenter is getting at, and I'm sure you know too well, is people without these systems. Healthy systems/network start in the home, they can start elsewhere, but it requires huge alienation from childhood networks, and other major sacrifices that people from money would really not have context to understand at such a scale. They show time and time again they don't get it, they simply won't take a chance on someone coming from that background 99/100. Really projecting a bit, but my personal experiences are all I need to understand the clear disadvantage I'm at because of my socioeconomic status since birth. Before we get into alternative networks, realize that we still need to put together all the other resume items of the traditional applicant, where should that extra time come from when you're poor, and you're existing family and friends are poor? Respectfully
A bank does not require licensing, however a bank will pay way less than what a licensed Mortgage Originator would make. There are trade offs for each but if you follow a good strategy for developing your own business, going the licensed MLO route will payoff for you with a greater income potential. Feel free to reach out if you have any questions - our office number is 317 566 0425. Best of luck! - Aaron
@@manwiththeplan7143 Thanks for the question! You would need to complete a 20 hour pre license class and then study and pass an exam of 125 questions. We would of course give you lots of direction on how to pass. Once you pass we can help connect you with a company that is hiring. The day to day would be establishing some friendly referral partners and developing business by finding those looking to buy a home or pull some equity out of their existing home to do home improvements or payoff other high interest debts. Feel free to call our office at 317 566 0425 or you can check out this video as well: where I cover some additional details: th-cam.com/video/J7bIBvwGACg/w-d-xo.html
Scott, we offer licensing education, licensing assistance and can place you with an employer (for free). We also offer sales support to our students with free access to our business networking platform called Cheddar Stacks. Our team is always ready to help and you can contact us at 317 566 0425 if you have any questions or need some help with anything.
Looking to obtain your mortgage originator license? Visit mymgtr.com/ for more info.
hah I got my degree in Sport Management too probably wasnt a good idea lol but your videos inspiring! I do phone sales right now was thinking about getting my MLO
Thank you for your comment, best of luck and let us know if we can help!
If i have a consistent schedule is starting part time an option?
Yes, there are some smaller Mortgage Broker shops out there who will take on a part time MLO. This will allow you to get a pipeline of loans going to build your bank account for a full time move. We have mortgage company clients Nationwide and can make an introduction for you after passing the exam.
What is the difference between what you do and working for a company like Rocket Money? I'm retired from the military and am interested in this as a career change.
Thanks for the question. I am a Veteran myself, served with the US Army, 7th Infantry Division and also went to the mortgage industry after my service. To be clear, I am not a lender like Rocket. I am a school that provides the required education and license training needed to become eligible to work for a company like Rocket Mortgage. Prior to getting hired to work as a mortgage professional you must compete a 20 hour training course, pass a background check and teste so you may apply for a state license. Once you have completed these items you are eligible for hire with a mortgage lender or mortgage broker. I would be honored to met you and answer any questions you have over a ZOOM if you are comfortable with that? You can email me directly and I can walk through all of your questions. My email is aaron@mymortgagetrainer.com Hope to meet you and thank you brother for your service!
Great video! May I ask when this conversation was recorded? Did he say those stats were from Jan 2020? I'm curious if MLOs have had to pivot since the downturn in the market. It's supposed to get worse, but somehow I don't think that will keep people from moving to more reasonably priced states where they can save. Thoughts?
It is from Jan 2020 and great question. Remarkably 2020 and 2021 were record years in the mortgage industry for most MLO's. 2022 has put pressure in the market but licensed lenders have excelled in taking most of the market. Bank MLO's who do not require licensing have seen a significant drop in the number of originators because licensed MLO's are taking the bulk of the market share. Good news is that once someone gets through the licensing class and exam they are able to license in as many states as they would like, assuming their company is licensed there. You are correct in assuming that MLO's are getting licensed in states that have more attractive pricing. The number of MLO's with 10+ state licenses is the fastest growing trend in the marketplace. Let us know if you have any additional questions about licensing, you may call my team at 317 566 0425 and we can walk you through to see if it makes sense. We even have companies we can introduce you to that are hiring Nationwide.
Looking to start a new career and have been considering becoming an MLO. Based out of OK, but open to multi-state licences. What is your advised first step for someone like me?
Jamie, would love to help! The first thing you need to do to become an MLO is take a 20 hour prelicense course, which can be found here: www.mymortgagetrainer.com Oklahoma also requires a 1 hour state law course that we can help you with as well. Once you complete the course, which can be done online over 7 days or a 3 day live webinar course (which I recommend) you can sit for the exam. Once you pass the exam I am happy to introduce you to a number of companies that are hiring. If you have any questions, call our office at 317 566 0425 and speak with someone form our team. I look forward to helping you!
Ok so he started with dads connections clearly. Probability handed him a few realtors. Ppl starting from scratch no matter how hard you try it will take more than 3yrs to get half the business he has
Thanks for the comment. He no doubt had some support from his father which every new MLO needs...a good support system,. That could also be a solid manager, mentor or a coach. I work with about 15,000 Mortgage originators on an annual basis and I have countless success and failure stories alike. The biggest challenge I see with new MLO's is failing to embrace the use of short and long form content to get themselves out there and noticed. Partnering with as many professionals that can refer business to them but not limiting themselves to only Real Estate agents. as with anything we try to be successful in life it takes effort...a lot of effort in order to find the success you are looking for. This is by no means a free ride where you get your license and suddenly you are a success. Again, thank you for the comment, I think you are correct in that anyone who is looking to this career should be prepared to put in some hard work establishing themselves and over time you will find your stride. Some quicker than others no doubt.
@@MyMortgageTrainerIncyou're points are valid, thanks for sharing some insight into what it takes to become successful. What the all too frustrated commenter is getting at, and I'm sure you know too well, is people without these systems. Healthy systems/network start in the home, they can start elsewhere, but it requires huge alienation from childhood networks, and other major sacrifices that people from money would really not have context to understand at such a scale. They show time and time again they don't get it, they simply won't take a chance on someone coming from that background 99/100. Really projecting a bit, but my personal experiences are all I need to understand the clear disadvantage I'm at because of my socioeconomic status since birth. Before we get into alternative networks, realize that we still need to put together all the other resume items of the traditional applicant, where should that extra time come from when you're poor, and you're existing family and friends are poor?
Respectfully
As a new MLO, should I go with a bank or broker?
A bank does not require licensing, however a bank will pay way less than what a licensed Mortgage Originator would make. There are trade offs for each but if you follow a good strategy for developing your own business, going the licensed MLO route will payoff for you with a greater income potential. Feel free to reach out if you have any questions - our office number is 317 566 0425. Best of luck! - Aaron
@@MyMortgageTrainerIncwhat's the process and day to day, just stumbled on this
@@manwiththeplan7143 Thanks for the question! You would need to complete a 20 hour pre license class and then study and pass an exam of 125 questions. We would of course give you lots of direction on how to pass. Once you pass we can help connect you with a company that is hiring. The day to day would be establishing some friendly referral partners and developing business by finding those looking to buy a home or pull some equity out of their existing home to do home improvements or payoff other high interest debts. Feel free to call our office at 317 566 0425 or you can check out this video as well: where I cover some additional details: th-cam.com/video/J7bIBvwGACg/w-d-xo.html
Are you like Xinnix? I’m brand new in Florida.
Scott, we offer licensing education, licensing assistance and can place you with an employer (for free). We also offer sales support to our students with free access to our business networking platform called Cheddar Stacks. Our team is always ready to help and you can contact us at 317 566 0425 if you have any questions or need some help with anything.
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