What does a Loan Officer \ Loan Originator Do? 🤔📝 (Loan Officer Day In The Life)
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- เผยแพร่เมื่อ 26 มิ.ย. 2024
- #LOANOFFICER #MORTGAGE #LOANORIGINATOR
Clearly, I love doing loans! Need a mortgage or want to chat about your scenario? I am licensed in 46 states for purchase and refinances. Here is how to contact me:
1) Book a call with me: calendly.com/jennifer-beeston
2) Apply for a mortgage now at www.zerostressmortgage.com If you apply please text me your full name and email address letting me know so I can look for your app:) TEXT 707-478-0637
3) Call me 707-478-0637
TikTok @jenniferbeeston
Instagram - jenbeeston
Facebook - jenniferbeestonmortgage
Jennifer Beeston, SVP Mortgage Lending NMLS 247743 at Guaranteed Rate, Inc. NMLS 2611
Branch Address: 4863 Old Redwood HWY, Suite D, Santa Rosa, CA 95403
Equal Housing Lender - For licensing, go to www.nmlsconsumeraccess.org
Top 1% in the nation 2016-2020
More Helpful Content:
Home Loan Basics: www.youtube.com/watch?v=Qfbvd...
Loan Programs: www.youtube.com/watch?v=iSuov...
VA Loans: www.youtube.com/watch?v=qejJO...
Real Estate Breaking News: www.youtube.com/watch?v=FTFXc...
Mortgage Rates/Refinancing: www.youtube.com/watch?v=GUOnv...
www.zerostressmortgage.com
NMLS #247743 Guaranteed Rate NMLS 2611
www.guaranteedrate.com/discla...
www.guaranteedrate.com/licens...
Equal Housing Lender - www.nmlsconsumeraccess.org
State License Numbers: AK - AK247743, AL - 72998, AR - Licensed, AZ - 1007541, CA - CA-DOC247743, CO - 100516570, CT - LO-247743, DC - MLO247743, DE - MLO-247743, FL - LO66900, GA - 70357, HI - HI-247743, IA - 33839, ID - MLO-2080247743, IL - 031.0054184, IN - 41478, KS - LO.0039219, KY - MC717200, LA - Licensed, MA - MLO247743, ME - Licensed, MI - 247743, MN - MN-MLO-247743, MO - MO-247743, MT - 247743, NC - I-189119, ND - NDMLO247743, NH - Licensed, NM - Licensed, NV - 66544, NY - Licensed, OH - MLO-OH.247743, OK - MLO20600, OR - 247743, SC - MLO - 247743, SD - MLO.08498, TN - 205478, TX - Licensed, VA - MLO-40552VA, VT - VT247743, WA - MLO-247743, WI - 247743, WV - LO-247743, WY - 8203
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and for more information.
All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Guaranteed Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Guaranteed Rate, Inc. Guaranteed Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.
Guaranteed Rate, Inc. is a private corporation organized under the laws of the State of Delaware. It has no affiliation with the US Department of Housing and Urban Development, the US Department of Veterans Affairs, the US Department of Agriculture or any other government agency.
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My husband has been a LO for about a year and a half and now after seeing all his success I’m looking to leave nursing to join him in the mortgage business. Thanks for all your education!
Hello, may I ask how he got started? Looking into leaving nursing as well
Hi I'm nurse as well. How do I get started like education
I went through Affinity. She does the 20-hour course that is required in order to take your test and she also does a test prep course. I bought both but you can do just the 20-hour course and then take the test.
W wife
Hi, do you know if the high interest rates have affected the amount of loans he’s been able to close?
Girlllll KEEP CUSSIN, LMBO, it helps us “regular folk” understand what you’re talking about lol…CUSSIN is a universal language and is so relatable 🥴🤣
Thank goodness because we all know I can’t quit it 🤣
Thank you for this! I am in the process of getting my MLO license. I have been in the auto industry as a sales person so I've seen some BAD things happen. But to me its all a "people business" Not "car business" or "mortgage business" I am here to take care of the human being who came to me, not hurt or hinder them! I hope I can be as knowledgable as you are so I can make sure I am really helping people and teaching them along the way. Call me crazy, but I work from the heart not my wallet. The money will always come if you take care of people the right way! Im finding out in many different industries people don't ACTUALLY care about the customer or client who comes to them for help.
That verbal slip makes you feel more relatable to us applicants, because we feel the same way.
lol thank you!
I've been in the mortgage industry for 23 years, and I totally agree with you.
Thank you!
This was great! Especially the end. Thank you!
Excellent! Some people just know how to teach. You're one of those special people. Thank you!
Thank you:)
I love that your are straight to the point, you speak on facts from experience. I really learn a lot from you and your honesty. Always keep that honest mindset.
Thank you Ciara:)
Thank you so much for being down to earth.
I’m a mobile notary and always wondered why some of my signers wouldn’t know what an impound/escrow account is or how it works along with other documents. So I would go over the payments with them and let them know to always double check with their LO’s but coming across your video helped me understand a little better why they probably wouldn’t know or their LO didn’t go over this with them. Thank you!
P.s I don’t mind all that much explaining it to them because it’s my favorite part along with the CD and the Note! :)
Wryd
Do you find being a mobile notary fulfilling? And is that the same as a mortgage notary?
I worked one of those companies that just took applications and didn’t train very well well on guidelines or structures. It was awful, constantly being in the dark because the training was so terrible. Working hard to get an application through after weeks of hard work only for it be decline the next day
YOU'RE THE BEST!!!!!! As someone completely interested in this position, i went from knowing absolutely ZIP, to knowing so so much about what it takes and what it means to be a Loan Originator/Officer. You are incredible at what you do. So well explained. Thank you for not wasting time.
Thank you:)
The guidelines reminds me of my real estate test.
Very insightful! Thank you for taking the time to share!
Thank you!
Very detailed chat. I too am easing out of advanced nursing and I’m a bit surprised at how much there is to learn in mortgage. Very worthy advice thank you.
Love how your videos "keep it real!" And, I don't trust anyone who doesn't occasionally swear (it's a military thing) ;-)
Thank you Ed!:)
Instablaster...
I can attest to that
Really enjoyed this video. I'm a brand new MLO but I've been on the sales side of real estate for the last 12 1/2 years. I share a lot of your sentiment that we, in the real estate industry, need to know not just how to fill out the paperwork, but have the knowledge to be able to counsel our clients through the entire process based on what's best for them. I jumped into the mortgage side mainly as additional revenue source and have to a better understanding of the mortgage side of the industry, but also because in all the years I've been doing this, there's only like 4-5 loan officers I'd be happy to work with again. Most LO's, like too many real estate agents, are terrible communicators and do not seem to take the impact we have on people's lives all that seriously. Keep up the good work, looking forward to watching more of your videos.
Now that it’s been a year as a MLO, which do you like better? MLO or Real Estate?
Thank you for making this video. I'm planning on becoming a Loan Originator/Officer and wanted to know what it entailed on a day to day basis. I've read online and done some research, but there wasn't anything all that helpful. This video helped a lot!
Glad it was helpful!
Glad to see this & thanks for keeping it real.
Always! Thanks for watching ! (:
What a freaking informative video----you covered about 10 topics in one! Thank you!!!!! You're saving me loads of mistakes and loading my brain with profitable, tailored information.
I am glad it was helpful:)
I am a brand new LO and I am so happy I found your channel!! Tons of great content!!!!
Thank you:)
Loved the video. Just beginning my research into this business.
I'm a new subscriber and a newbie to the mortgage industry (career pivot). I'm applying for a a position as a loan officer/originator. I am so grateful to have found you. This is great information and training. Thank you!
Welcome to the mortgage industry and I am glad the videos are helping:)
I am in the process right now of buying my first home. I've been binge watching all ur videos Jen for the past few weeks and love them all. I feel much more confident and prepared for every step in this process thanks to the knowledge I get from you. I just wish I could give you my loan in Illinois but BOA is giving me $13,000 in grants and I can't pass up that kind of free money. Keep up the great work and great videos!
Free money is a good thing:) I am glad the videos are helping!:)
I’m in the process of getting licensed. Passing the NMLS exam was just scratching the surface. I will always find myself learning in this ever-changing industry. Great video! 😊
Congrats on [passing the test and you should 100% subscribe
@@JenniferBeeston thank you! Subscribed. 🙏🏼
you are perfect! thank you for this.
This was so great! Thank you so much.
Happy to help:)
Thanks for the words of wisdom. 23 years old and college has me feeling like a leaf in the wind, so I'm going my own route as an MLO. Luckily, I have a family member who is a successful broker and is willing to let me help his clients with refi's. Highly motivated and hoping to make a killing.
I’m young too and will hopefully be going the same route. Good luck my friend!
Dude you are so lucky!
That's the trick Jen, to determine if your loan officer / originator knows what he or she is doing. I suppose there are certain questions to ask to decide if a particular loan officer knows & cares about what they are doing, but it is not always easy to analyze their responses if you are not in the industry. I would go with you because you know, & care, & put yourself out there - meaning you have a reputation to protect so you will do your best. That is reason I did not want to go with an online lender that just has a two-dimensional loan officer behind a computer. I want to get a sense of who that person is and are they capable and honest. That is a foundation that sets the groundwork for moving forward. If an issue pops up during the process WE can handle it.
I definitely just subscribed. I'm studying for my exam now and I am super excited to provide QUALITY service! Definitely plan on learning from you!
Awesome! Thank you! Good luck on the test!
Thankyou, For cover so much in a short time.
It was really interesting to hear all these info.
As a loan officer myself i have learned some basic checks to be customer caring through the video. Thanks again.
Glad it was helpful!
Great content! I am beginning this process in the next week or two! Looking forward to learning this side of RE. Cheers!
Thank you and good for you! Cheers!
😂😂😂😂😂😂😂 oh shit!!! 😍 love your personality keep keeping it real!!! 🥰🥰🥰🥰
Thank you for all the great insights! Your use of Sh.... got you my subscription! 😄
Thank you. I will curse more;)
Very nice video! It was clear, concise, and helpful. Congratulations on your success!
Thank you Robert!
@@JenniferBeeston You're welcome!
Another great video Jen. I feel like each video I watch the level of fear diminishes ever so slightly. Still scared as sh@!, haha but feeling confidence growing as I can limit the unforced errors more and more with this amazing content.
:)
@@JenniferBeeston Hi you did a fantasti jo b thanks for all the advice
Just want to thank you again for a great experience with financing on my first home last year! Guys, SHE IS THE BEST!!!
Thank you Justin!!!! I appreciate you so much!:)
Great video for those you need clarity and have questions.
Thank you!
Great presentation. You were very transparent about everything and said exactly what to expect from a loan originator or lender. On a scale of 1 to 10, I give you a 20 on knowledge. So far you gave a great presentation on what to expect in the life of a loan originator or loan officer.
❤️
Thanks for sharing. I didn't feel that I was informed and educated enough about the process and the requirements in a home loan from the LO I worked with. I spoke with someone who suggested researching and I learned more from TH-cam videos and Google about the little information I was given from the LO. This was very helpful and informative.
Glad Google and I were able to help:)
@@JenniferBeeston I’m trying to get my MLO was the exam hard? I also heard they check your credit? Why? And what credit score do you have to be?
Thank you for making these videos. I'm in Los Angeles, CA and want to move to North Carolina. I've never owned a home. I've spoken with a few loan officers in NC and I'm slowly coming to terms with the fact that I will have to rent in NC before I can purchase a home there. I don't understand everything the officers are telling me - this whole process is like a new language to me. But I'm glad I can come to your channel and get some clarity.
Happy to help and I am licensed in NC if you have questions :)
Very interesting! Now I understand why many people rent here and wait before they move to their house 🏡
@@colibri4676 yes, I think it's all about establishing a history there. Making sure you have a way to prove you have a stable source of income. I'm still moving 🙂 this month, in exactly one week. But I will definitely rent now and find a job there.
Just joined the trade, lots of compliance to learn but i'm sure with the years and experience things should become easier. I always enjoy learning new things
Welcome to the business. So so so much compliance.
Hi Jennifer! Love your videos! Would love for you to do one on what you tend to wear to the office🙏
I love rent the runway. Keeps outfits fresh but I don’t have to spend a fortune
ha ha that was awesome!! Love that you said shoot! :)
Yes shoot:)
Very considerate and profesional explanation thank you she knows what she is doing , unfortunately the 5% ‘ll be like that
I love how raw this content in and don't apologize for the bad word its ok thats what made me keep watching. I see how passionate you are about your job and I am like that too. Thanks!!!
Such a great video thank you.
Thank you!
Thank you for your information!
Glad it was helpful! Thanks for watching Patricia! (:
Great video. Just going to start my journey 😊
Thank you
Great content, just started my MLO career in the learning phase, currently going take NMLS exam wish me luck 🙏🏼
Good luck on the test!!:)
Thanks Jen! I have learned a lot. We just got final approval waiting for the appraisal report.
Amazing video! 👏🏻 👏🏻
Thank you!! 😁
I had the unfortunate experience of working for a LO who didn't know how to structure a loan and didn't really care. Very much the person you described.
So many of them. I am constantly surprised/horrified
love your video:)
Thank you!! :)
Very helpful!!
Thank you!
I don’t know why, but I laughed when you said becky lol great information thank you
Glad you enjoyed it!:)
I'm a loan closer and interested in getting my MLO license. Thank you for this video!
I am as well just passed the first test going for pre licensing good luck 👍 I have learned invaluable information from this channel!
Thanks for confirming that this is not the career path I want.
Here to help. It is definitely a job that requires passion to be successful
I really like your style 😍🌸🌸
Thank you!
Fascinating.
I liked the video, 1 second after that verbal slip up lol that's when I realized this is where I belong
Thank you. Very informative video.
Thank you for watching !!! :)
Another epic monolog. I was waiting for the lines "You want me in that chair! You need me in that chair!" followed by "You're goddam right I issued the pre-approval!" There is definitely a strong Nicholsonesque physicality to your performance. Maybe next time?
Next time 100% I assume you are referencing the shining 🤣🤣
@@JenniferBeeston "A Few Good Men" ;-)
You friggin people. You have no idea how to defend a nation.
So crazy. I thought loan officers, like realtors, just cost you non value added fees that increase the bottom line money to process a transaction for realestate. So glad you beautifully cleared all this up.
Thank you Joel;)
I live in Las Vegas, 42 yrs old, been a fine dining waiter for 22 yrs and i am ready for a career change, i am amazing with people and i love to learn..love it and am willing to do whatever it takes..School is only a week here..idk i just want to start and become a sponge
Nice to meet you Casey! I would look for a job as a operations assistant to start at www.rate.com It is a great way to get into the industry
This is an eye opener for those of us new in the business. Thanks! Keep the videos coming!
Happy to help:)
good video Jennifer
Wow 14 years!! This is a career!
This is good information. Which online school would you suggest they attend if someone wanted to get this license?
Hi Jennifer, I am new to this field and close to enrolling in LO classes to get started. I would love to know some tips of the trade so I can go in the right direction. I have worked in the medical field for 12 years and I want to continue to help people in a different way while making more money and learning something completely new. I have worked with a LO before when buying my home but I do not know anyone personally to ask many questions to. I honestly want to be a LO in conjunction with my current position for the next few years, I would love to know your thoughts and any advice you may have.
Jennifer is the best V A loan people out in the crazy market. She is honest,Fair and can save the Veteran thousands in fees. Do not make mistake, Before you close your V A loan
Get with Jennifer!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Thank you Randy!!!:)))❤️❤️
Jenn, you are making it very difficult for me to go with Navy Federal. I love how detail you are, and for breaking it down. I won't start the preapproval until Sept, but this video has seriously convinced me to go with you for my VA loan.
Thank you Michael! We would love the opportunity to work with you:)
@@MrYodi2007 go ahead and make that appointment. 3-6 months is a perfect time. She is exactly like the videos. I have been underwriter approved, just waiting on new construction to finish in Myrtle Beach.
@@MrYodi2007 the process is very detailed: two years of W’2’s, pay statements, etc., but the technology uploads make everything easy. I worked on my credit to get scores up to 670. Her team will assist will everything. They will pursue full underwriting once the fill is complete. Great process if your paperwork is in order.
She is cut throat, straight forward WOMAN.😍🥰
Thanks so much
You're welcome! Thank you for watching!! (:
Super informative video, I think a person has to have a lot of Integrity in order to operate the way that you do and in your particular field. I am getting ready to take my test to become a loan originator, it looks very lucrative and it seems like I would do a good job at it. However I will say this. Most people will not operate the way that you do and talk to people about certain things because it would most likely be detrimental to their income, the loan officers that is. Most people will probably just try to close loans left and right until they get as successful as you and THEN start growing a conscience. Me personally, I will do my very best to be upfront and transparent and not climb the ladder of success by blowing smoke up people's ass you know what I mean?
I am glad you are going the ethical path. Many people fall to the dark side and chase the money but the key to a good long term business is taking care of your clients and always putting them first. Do that and you will have a great life. I have seen so many lenders burn out of the industry due to greed. Karma always catches up and the CFPB and new regulators are not playing
Thanks
Great video! Quick question, is the underwriter an actual person or automated? I've recently heard of the AUS system. Thanks!
We do both
Love your clarity! Do you know what a wholesale Lon officer do? I’m searching this role but there isn’t much information since it’s more specific
No as unfortunately I am not 100% sure what you are referencing.
Hi, what's the best way to land a MLO position when changing careers?
Thank you so much, Jennifer! How does one know if a loan officer/originator is knowledgeable or has their best interest at heart? I know we can look at reviews of lending companies, but is there any way to know if the officer assigned to you is good or not?
Sorry, No one has replied. The best advice I can give you is follow your gut. That your officer makes you feel welcomed, and welcomes all your questions and informs you with gusto. The attitude of a great teacher.
This video is really good but as someone trying to do research into what a loan originator actually does a true day in the life would be really nice. I know there is a lot of confidential information involved, so I understand that would be difficult. If there is any way to make this possible it would be appreciated. Thank you for taking the time to make your content
It is a challenge because all I do is handle sensitive conversations and info and every loan officer is different
@@JenniferBeeston I completely understand thank you for your reply!
I’m a licensed real estate agent, but I think MLO is the route that I should take. I’m such an introvert and that is not the best quality to have as an agent. 😭
This is SO accurate. I just started and May will be my second month on the phones talking to a lot of customers. We structure Loans and follow up to make sure everything goes smooth. Bottom line is that if you are scared of talking to people or you don’t want to make mistakes, too late!! Lol I learn 5 new things a day!
Yep and even after 10+ years you will still learn something new every day. My top tip is to get a great headset as otherwise you will ruin your neck. I have a plantronics as I use all day every day
@@JenniferBeeston hahah very true! I have a Logitech and so far so good lol
@@JenniferBeeston do you work from home and use your home phone number?
7:00 this happend to me when applying for a heloc. My loan officer messed up my application. I went through every step of the process only to get denied because of my dti. Which imo should have been discovered at the start of the application. So I called the next bank where the lady thoroughly reviewed my information and bang approved no problem.
I am glad the next bank was able to take care of you. Yet another example of why 2nd opinions are so important
Loved the video. As someone that’s looking into becoming a loan processor, what are some tips you can provide when looking for a company to work with and also how do we make money? TIA
Happy to help. Definitely you should check out Guaranteed Rate. Our loan processors are paid a base and a per file bonus which increases based off of how many loans they can close per month. We have processors making in the 6 figures no prob. We also have GROW (Guaranteed Rate organization of Women) and Excelrate (a program which will help you climb the corporate ladder) To all processors I would always suggest you meet the loan officers you would be supporting to see if you gel and have the same ethics.
@@JenniferBeeston how do one apply. When you click careers it takes you to a page like you’re doing a zoom meeting
Great video once again. Are you licensed in California?
Thank you and yes I am licensed in California If you would like to chat please pick a time here calendly.com/jennifer-beeston/preapproval-q-a
great information, thank you so much! Now how do I find one of those that have the experience, knowledge and skillset to close the loan....
Licensed in 46 states and would love to help calendly.com/jennifer-beeston/preapproval-q-a
I want to become an independent LO but I’m still pretty new. I guess it takes time
I feel like loan officers are like prep for underwriting. My loan officer asked me for all my documentation up front and ran my credit before being pre approved.
Hi Jen, thanks for the valuable video! I am hoping you can provide me some feedback; I just passed my national exam. I have been in technical unrelated field for many years and was wondering if it’s really possible to break into the mortgage industry while being employed full time for the time being. Are there mortgage brokerage that would take me on during this transition?
I am sure you could find a local broker that would go for it. You are generally 100% commission so it is low risk to the broker
That cursing slip up instantly made me a subscriber! Came for the information stayed for the personality
Thank you:) Welcome to the channel.
Great video! I am 100% P&T; will the property tax exemption work only if my name is on the mortgage?
I would call the county tax assessor as they would be the one who determines this
Such a sweet lady!
Thank you!!!
I knew this video was reall and true when I heard "don't do horrible shit... oops" lmao
Had to give it a like after that.
Great video, I am a new LO in Ca. After studying my butt off I’m frustrated with Branch Manager. All I hear is I’m going to kill it but not being shown anything. Just like you said test don’t mean Shit hahaha. Any advice for a newbie to get the training?
You need to work with a company that will give you tools and access to training and coaching calls. I brought my sister into Guaranteed Rate a few years back and she is closing over 130 million in loans now. She had no prior loan experience. Where you work matters 100%
@@JenniferBeeston Any suggestions? I’m in the Tri Valley are of the Bay. Livermore, Dublin and Pleasanton. Also love your videos, thank you!!!
@@philbaltazar5219 Have you chatted with Guaranteed Rate? If not give me a call 707-478-0637
Is Guranteed Rate still hiring new Mortgage loan officers?
Hi... just watched your video. Thank you! I'm seriously thinking of becoming a loan administrator. Are online schools like Allied Schools a good place to start your initial education? Any feedback would greatly help. Thank you for your video's
HI Mike:) I would start b y looking to see if any banks or credit unions have mentor programs for lending. Some of the schools are solid but you really need to get your feet wet. Another great way to start is as a loan officers assistant. As a LO assistant you get to see everything and how loans are structured etc... This is really a job you learn best by doing. Then get your nmls license and move into ordinating.
Where can i find the application software for my lending business
Hey Jenn question can you work remotely as a loan officer compared to insurance.. Flexible Schedule and take time off? Can you live in Mexico and work if you wanted to and make money? Also is there possibility for residual or referral income? Thanks!
I would chat with a licensing expert as it would depend on the state. Have not seen a way for residual/referral income as the licensing is so sticky
Does guaranteed rate have a good training program for new LOs? I’m 18 literally have no experience in anything... getting licensed soon
Yes we have an excelrate program
🔥🔥🔥
Thank you!