I have an interview in 30 minutes for a mortgage broking position and here I am watching this instead of preparing aha. I just turned 20 and feel like this is the next best step.
You’ve got this! You don’t have to know everything it’ll be like drinking from a fire hose some days. 6 years in and I still don’t know every little thing, just be yourself, be kind, and care more about your clients than the paycheck and you’ll be just fine. Good skills on your interview!
Great Video! Would like to know more of your story-- how and why you became a MLO, starting as an MLO, how did you network/build relationships?? Would like to learn from you!
Hi i stumbled on to this vlog and saw your comment. How has it been going to so far? I just started as an mlo but haven't be able to have much hands on training cuz of covid
great vlog!!! love love the content, truly sharing valuable information that I even myself use in my business as a new agent. Can't wait for the next one
How did you get started in the mortgage industry ? I'm currently a realtor but I'm looking to get into the mortgage side of the business I will have my real estate brokers license by the end of this year
whatsup! I'm gonna make a video on this shortly, but basically I was broke and needed a job. worked my way through the industry and now here I am. Are you in California, let's talk dm me on instagram @catondelrosario
Hey can you talk about what a new mortgage broker would need when they first start out. For example do they have to pay desk fees or membership fees anything like that?
It’s a great place to start your mortgage career! Although admittedly I’m a bit biased. DM me on IG if you ever need help! I’m a lot more active there with my community
I hate being a car salesman. So I recently applied and got my 2nd interview to become a mortgage broker. Is the job challenging and anything I would expect?
it can be, it's just like car sales what you put into it is what you get out. i know several who absolutely crushed mortgages after coming from auto. best of luck to you!
Since everything is work from home I haven't been able to Shadow in the office much. I'm looking for the most efficient way of taking a 1003. I've been able to get away with the whole "great let me crunch the numbers and I'll get back to you" but of course I'd want to get away from that.
It sounds like you are doing a two call close which is great. First impressions are everything, I would try to build as much rapport as you can and actively listen to your client. Sometimes I see new LO’s get so wrapped up into the 1003 and make it too transactional. Just take notes if you can while having a normal convo and sprinkle in questions that pertain to your 1003 as you go.
@@davidanddaniellerosales9974 yeah no worries my biggest tip is to humanize the process as much as you can, you build trust this way and get more commitment. When people understand your value, points and fees don’t matter.
It can be EXHAUSTING sometimes lol especially in a market like we have now where rates are so low. Working 10+ hour days and weekends just to stay above water. It’s not a job for everyone and if you’re 100% self sourced it could take a while to get your first deal.
I am 25 and have completely 0 experience in the mortgage business but am very interested to get into it. Any advice? Do I just apply on Indeed to some local companies. I have literally 0 experience in the industry and need some training. I do not know how to break in and get started. I am in Southwest FL. Any advice???
look up local mortgage brokerages and ask if theyre hiring loan officer assistants. Most good producing ones probably are willing to give someone with drive a shot. Great way of learning the job without much risk.
I was just looking for a new job and i have the opportunity to start in this domain but i am an very anxious person and i really don't know if i can do it. I was just looking for some motivation and i found you 😊 i like your vlogs and the editing skills you have !
@@CatonDelRosario what makes them the right mortgage broker? It feels like a bunch of loan officers are out there going to open houses and looking for clients while others are at the office or at home just talking on the phone and doing paperwork
I’ll be brutally honest. Most mortgage loan officers out there are generally not good at their job. It’s a career with high commissions and a fairly low barrier for entry if you have a clean enough record. I don’t necessarily think there’s one “right” way to run a mortgage business, more so find someone who is clearly successful and does well by their clients. Figure out what you like about what they do and how you like to work. Some people enjoy the traditional work from an office setup while others like me enjoy the networking with agents and meeting more people. The “right” mortgage mentor is ultimately the one that feels right in that moment, who you trust will help you get to whatever that next place you want to be at in your mortgage career is.
@@CatonDelRosario thanks for the honesty! With some companies it seems like you have to prospect and get 100% of your clients while companies like say loan depot or owning may give you clients? How do the splits work on that? To be honest I'm in real estate sales and have been for a while. Im a little tired of prospecting and showing 20 homes per client over 6 months.
@@IWBVS With companies that provide leads you'll of course make less per loan but hopefully be closing more loans. Other shops where you self source you get paid more so you don't have to do as many loans but it can mean more work to get those few deals. Personally, I self source my business but I also know how to generate leads, so it provides a little bit of an advantage.
I know insurance agents that make a ton more than mortgage brokers and vice versa. Both are jobs in the financial sector with incredible upside for those who are willing to hustle.
Hey man, love the video. Great work! I was wondering if you had any tips of where I can go to study for becoming a mortgage broker. I am currently looking into getting in the business and I know the courses and test don't quite give you everything you need to know, so what advice do you have to study on and learn?
I'm kind of lost with what I want to do in the future so I ended up watching this video. My uni major is not even business-related lol. Btw, is the mortgage calculation complicated? I have checked some courses in my country and one of the modules covered that chapter.
I don’t have a college degree so idk if that helps you lol. We rely on technology to do most of our work so most of the job is understanding the guidelines.
I've seem some people transition from their jobs into working part time and then eventually full time as LO's. The job is primarily a day time job so if you want to work another job, you'll need to look at afternoon/night shifts. at least until your mortgage origination income becomes consistent enough to leave the other.
credit unions are solid especially if you have a good relationship with them, but they are also not necessarily the best at getting loans closed in a reasonable amount of time.
65MMREHP I’m actually shooting this exact topic this week! You can check Zillow and look up mortgage lenders locally to see who’s doing well and DM them to see if they’re hiring, which most mortgage companies are right now!
@@CatonDelRosario Thanks for the fast response! I emailed companies like Owning and LoanDepot over the last 2 weeks with no response from either company, even after LD said they were hiring 2,600. Looking forward to your video!
65MMREHP LD and Owning are more call center mortgage companies which is a fine place to start, but you’ll eventually want to venture out being a self-sourced LO getting your business from referral partners and sphere of influence. A little more work life balance and a lot more upside that way.
@@CatonDelRosario Possibly in the future. I'm a little burnt out from sourcing my own clients in RE sales for the last 10 years. Hopefully one of those call centers type companies will let me work from home. Thanks for the response!
Hey man so Ik u can get licensed at 18 so do I necessarily need to go to college or can I self teach and help from my father and become licensed and start bringing in a bag at 18
Hey man love the hustle. I got my start at 24 and I’m 29 now. I don’t have a college degree & have had a successful career! If you want to talk more about it DM me on IG @catondelrosario
I'm in the same position as you man, I'm running a buisness right now at 15 but want to follow my dads steps and start right away when I'm 18, not tryna go to college because I dont think what they will teach me will be worth 40 grand
Really cool vlog. I just started my new job as an mlo and it feels like I've kinda been thrown in the water lol but with covid and kids being home I've been looking for the lost effective ways to organize my time. So vlogs like this are cool for me
Jonathan La’grope I live in CA so the loan amounts are a lot bigger and therefore easier to get to that 6 figure mark. Most if not all of the loan officers that work for me at AMNET are making $100k/year or more right now.
@@ashleywhite3515 i bet he didn't email you.. please don't get offended but you are looking for help or an opportunity and you are asking him to accomodate you. I would immediately cross you off the list of someone that i would want to hire because it screams that you don't or won't do what it takes to be a success on your own and you are looking for someone else to do the work for you. He already knows that he is going to have to do a lot of work just to get you to be or stay average and you are definitely not going to help him be more successful... How long does it take to get a new IG? I'm nearly 50 and i know i can have one in less than 10 mins! You basically said, "can you help me?" And he said "yes, come to my office at 8am" and you said, "um i hate mornings and i don't like to commute.. can you come to my apartment around noon instead?" sounds crazy doesn't it??
lol sorry it was one of my first vlogs on this channel and was getting used to documenting my day. I promise my life now is a lot cooler but I still absolutely go to a lot of meetings and occasionally eat at Panda Express.
lol thanks for the feedback. It was years ago when I was still figuring out this whole content thing, hope you stick around for my newer educational stuff but if the vlog wasn’t your vibe I get it! Hope you’re doing well
Hey everyone thank you so much for watching! What podcasts do you use to get your day started?
Caton Del Rosario the MFCEO Project podcast with Andy Fris
Snacks Daily - 15 min financial news, I love them!
Would love to see an update on how things have been during COVID.
I just got started in the mortgage industry with Mr Cooper (largest non-bank servicer) and I’m excited to embark on this journey
I have an interview in 30 minutes for a mortgage broking position and here I am watching this instead of preparing aha. I just turned 20 and feel like this is the next best step.
You’ve got this! You don’t have to know everything it’ll be like drinking from a fire hose some days. 6 years in and I still don’t know every little thing, just be yourself, be kind, and care more about your clients than the paycheck and you’ll be just fine. Good skills on your interview!
Great Video! Would like to know more of your story-- how and why you became a MLO, starting as an MLO, how did you network/build relationships?? Would like to learn from you!
Absolutely! Definitely a video I’m planning on shooting and posting soon!
What are the qualifications to start a new mortgage brokerage ? How many years of experience does a person need to qualify ?
Good thing I came across this while doing research cause im thinking of starting the licensing
awesome! I'm actually working on some videos to help brand new LO's navigate the licensing process!
Same here I’m thinking of starting my licensing and I glad I found your channel.
I love this video and the garyvee podcast is definitely me everyday 😊 thank you for the motivation! I start July 24!!!
That’s awesome! Congrats on the start of your journey!
Caton Del Rosario thank you!! ☺️
Hi i stumbled on to this vlog and saw your comment. How has it been going to so far? I just started as an mlo but haven't be able to have much hands on training cuz of covid
When did you start being a mortgage broker how old were you? And what did you do before??
I was 24 when I started my mortgage career. Had a few random sales jobs and some customer service experience before that.
@@CatonDelRosario very cool man!! What made you get into it?? By chance??
@@CatonDelRosario how did you fall into mortgages? By chance
Thank you for your video man I found it very useful,
I look forward to viewing more !
Bless up ✌️
great vlog!!! love love the content, truly sharing valuable information that I even myself use in my business as a new agent. Can't wait for the next one
thank you so much! as a new agent, what's something you want to know more about?
How did you get started in the mortgage industry ? I'm currently a realtor but I'm looking to get into the mortgage side of the business I will have my real estate brokers license by the end of this year
whatsup! I'm gonna make a video on this shortly, but basically I was broke and needed a job. worked my way through the industry and now here I am. Are you in California, let's talk dm me on instagram @catondelrosario
Hey can you talk about what a new mortgage broker would need when they first start out. For example do they have to pay desk fees or membership fees anything like that?
Great idea! I’ll put together a video on this since I’ve gotten this a lot privately too
I’d love to see that as well 👍
Im doing my prelicensing right now online, and want to move to SD soo bad! So glad I stumbled upon your video. Sign from the universe maybe?!
It’s a great place to start your mortgage career! Although admittedly I’m a bit biased. DM me on IG if you ever need help! I’m a lot more active there with my community
@@CatonDelRosario what is your IG =]
@catondelrosario
How old are you
So as a mortgage broker your clients as the realtors, not the borrowers ?
I hate being a car salesman. So I recently applied and got my 2nd interview to become a mortgage broker. Is the job challenging and anything I would expect?
it can be, it's just like car sales what you put into it is what you get out. i know several who absolutely crushed mortgages after coming from auto. best of luck to you!
the music is so intense for an office job :P...just playing...keep it up
Since everything is work from home I haven't been able to Shadow in the office much. I'm looking for the most efficient way of taking a 1003. I've been able to get away with the whole "great let me crunch the numbers and I'll get back to you" but of course I'd want to get away from that.
It sounds like you are doing a two call close which is great. First impressions are everything, I would try to build as much rapport as you can and actively listen to your client. Sometimes I see new LO’s get so wrapped up into the 1003 and make it too transactional. Just take notes if you can while having a normal convo and sprinkle in questions that pertain to your 1003 as you go.
@@jacobromero445 thank you so much for the encouragement! Honestly being in sales it’s good to note that rapport is everything. Thank you!
@@davidanddaniellerosales9974 yeah no worries my biggest tip is to humanize the process as much as you can, you build trust this way and get more commitment. When people understand your value, points and fees don’t matter.
@@jacobromero445 that’s kinda been my strategy. Glad to know it’s a best practice that can be shared 👍
Caton Del Rosario, what is the negative parts of mortgage lending?
It can be EXHAUSTING sometimes lol especially in a market like we have now where rates are so low. Working 10+ hour days and weekends just to stay above water.
It’s not a job for everyone and if you’re 100% self sourced it could take a while to get your first deal.
@@CatonDelRosario what is "self sourced " meaning ?
I am 25 and have completely 0 experience in the mortgage business but am very interested to get into it. Any advice? Do I just apply on Indeed to some local companies. I have literally 0 experience in the industry and need some training. I do not know how to break in and get started. I am in Southwest FL. Any advice???
look up local mortgage brokerages and ask if theyre hiring loan officer assistants. Most good producing ones probably are willing to give someone with drive a shot. Great way of learning the job without much risk.
@@CatonDelRosario is that a 9-5?
im also a loan officer in san diego!
let's collaborate! hit me up on IG @catondelrosario
I was just looking for a new job and i have the opportunity to start in this domain but i am an very anxious person and i really don't know if i can do it. I was just looking for some motivation and i found you 😊 i like your vlogs and the editing skills you have !
I’m so excited for you!! You’ve got this!
Nice video! I’ve been in real estate for 10 years and currently thinking about stepping into the mortgage side of things. Any advice?
align yourself with the right local mortgage broker! it'll 1000% make a huge difference.
@@CatonDelRosario what makes them the right mortgage broker? It feels like a bunch of loan officers are out there going to open houses and looking for clients while others are at the office or at home just talking on the phone and doing paperwork
I’ll be brutally honest. Most mortgage loan officers out there are generally not good at their job. It’s a career with high commissions and a fairly low barrier for entry if you have a clean enough record. I don’t necessarily think there’s one “right” way to run a mortgage business, more so find someone who is clearly successful and does well by their clients. Figure out what you like about what they do and how you like to work. Some people enjoy the traditional work from an office setup while others like me enjoy the networking with agents and meeting more people. The “right” mortgage mentor is ultimately the one that feels right in that moment, who you trust will help you get to whatever that next place you want to be at in your mortgage career is.
@@CatonDelRosario thanks for the honesty! With some companies it seems like you have to prospect and get 100% of your clients while companies like say loan depot or owning may give you clients? How do the splits work on that? To be honest I'm in real estate sales and have been for a while. Im a little tired of prospecting and showing 20 homes per client over 6 months.
@@IWBVS With companies that provide leads you'll of course make less per loan but hopefully be closing more loans. Other shops where you self source you get paid more so you don't have to do as many loans but it can mean more work to get those few deals. Personally, I self source my business but I also know how to generate leads, so it provides a little bit of an advantage.
What's that instrumental @ 5.00 mark?
Have you ever thought about investing in your skin, teeth etc? It is also a great investment for your career and your future just like property.
Lol thanks for the advice. Couldn’t imagine wanting to work with or for anyone who actually gave a fuck about those things. 🤷🏽♂️
Is this career more profitable than being an insurance agent?
I know insurance agents that make a ton more than mortgage brokers and vice versa. Both are jobs in the financial sector with incredible upside for those who are willing to hustle.
Hey man, love the video. Great work! I was wondering if you had any tips of where I can go to study for becoming a mortgage broker. I am currently looking into getting in the business and I know the courses and test don't quite give you everything you need to know, so what advice do you have to study on and learn?
I'm kind of lost with what I want to do in the future so I ended up watching this video. My uni major is not even business-related lol.
Btw, is the mortgage calculation complicated? I have checked some courses in my country and one of the modules covered that chapter.
I don’t have a college degree so idk if that helps you lol. We rely on technology to do most of our work so most of the job is understanding the guidelines.
@@CatonDelRosario That's interesting... no degree is required. Perhaps it requires a license instead of a degree...? Just guessing 💭
Cool vibes! Do you have any videos featuring your tech stack that you use or any other digital tools? 👍
I don’t, but I’d be happy to do a video with an honest review of any mortgage tech out there!
Do u need more liability insurance when u bring agents aboard ur team?
Hello I know I’m late to the video, was wondering if this is something that can be done on a part time basis?
I've seem some people transition from their jobs into working part time and then eventually full time as LO's. The job is primarily a day time job so if you want to work another job, you'll need to look at afternoon/night shifts. at least until your mortgage origination income becomes consistent enough to leave the other.
Caton Del Rosario thanks so much for the quick response you have given me a lot to think about
Keep it up!
is it a good age to get into mortgage brokering at 19?
I prefer working with my credit union. They are more trustworthy.
credit unions are solid especially if you have a good relationship with them, but they are also not necessarily the best at getting loans closed in a reasonable amount of time.
how does one find a job as an MLO with some training and leads? I'm in OC and just got licensed this week.
65MMREHP I’m actually shooting this exact topic this week! You can check Zillow and look up mortgage lenders locally to see who’s doing well and DM them to see if they’re hiring, which most mortgage companies are right now!
@@CatonDelRosario Thanks for the fast response! I emailed companies like Owning and LoanDepot over the last 2 weeks with no response from either company, even after LD said they were hiring 2,600. Looking forward to your video!
65MMREHP LD and Owning are more call center mortgage companies which is a fine place to start, but you’ll eventually want to venture out being a self-sourced LO getting your business from referral partners and sphere of influence. A little more work life balance and a lot more upside that way.
@@CatonDelRosario Possibly in the future. I'm a little burnt out from sourcing my own clients in RE sales for the last 10 years. Hopefully one of those call centers type companies will let me work from home. Thanks for the response!
@@CatonDelRosario Also, since I passed my MLO, I can be a broker(own my own company out of my house) or work for any direct, non direct, lender/bank?
I can’t find anything on finding lenders for a mortgage company.
Great video! What courses do you need to take for licensing?
you'll need to do 20 hours of NMLS training, check out trainingpro! and check the NMLS site for your state specific requirements!
Hi, did you have financial background prior?
Cee Kay not at all! Just worked my way up through a mortgage company until I got licensed.
I'm looking for a home loan...in Tampa fl....I have a bankruptcy though know anyone that can help me.....
Hey man so Ik u can get licensed at 18 so do I necessarily need to go to college or can I self teach and help from my father and become licensed and start bringing in a bag at 18
Hey man love the hustle. I got my start at 24 and I’m 29 now. I don’t have a college degree & have had a successful career! If you want to talk more about it DM me on IG @catondelrosario
I'm in the same position as you man, I'm running a buisness right now at 15 but want to follow my dads steps and start right away when I'm 18, not tryna go to college because I dont think what they will teach me will be worth 40 grand
Really cool vlog. I just started my new job as an mlo and it feels like I've kinda been thrown in the water lol but with covid and kids being home I've been looking for the lost effective ways to organize my time. So vlogs like this are cool for me
I’m thinking of doing my work at home vlog! Is that something you’d like to see?
@@CatonDelRosario absolutely! Like I said I have a full house over here so seeing how someone else does it would be awesome
this intro song sounds like eddie hall the beast intro song lol
average salary ?
most LO jobs don't pay salary. 100% commission is the way to go. A decent LO in CA can make $100k easy first year
Do you make 6 figures?
Jonathan La’grope I live in CA so the loan amounts are a lot bigger and therefore easier to get to that 6 figure mark. Most if not all of the loan officers that work for me at AMNET are making $100k/year or more right now.
Are you hiring ?
Ashley White yes we are, message me on IG @catondelrosario
I actually don’t have a IG anymore. Can you email me? Ashleywhite87x@gmail.com
@@ashleywhite3515 i bet he didn't email you.. please don't get offended but you are looking for help or an opportunity and you are asking him to accomodate you. I would immediately cross you off the list of someone that i would want to hire because it screams that you don't or won't do what it takes to be a success on your own and you are looking for someone else to do the work for you. He already knows that he is going to have to do a lot of work just to get you to be or stay average and you are definitely not going to help him be more successful... How long does it take to get a new IG? I'm nearly 50 and i know i can have one in less than 10 mins! You basically said, "can you help me?" And he said "yes, come to my office at 8am" and you said, "um i hate mornings and i don't like to commute.. can you come to my apartment around noon instead?" sounds crazy doesn't it??
This video tells me nothing about what a mortgage broker actually does except for 'going to meetings' and eating at Panda Express. Waste of time.
lol sorry it was one of my first vlogs on this channel and was getting used to documenting my day. I promise my life now is a lot cooler but I still absolutely go to a lot of meetings and occasionally eat at Panda Express.
Terrible video...just styling and profiling....no substance.
lol thanks for the feedback. It was years ago when I was still figuring out this whole content thing, hope you stick around for my newer educational stuff but if the vlog wasn’t your vibe I get it! Hope you’re doing well