Mortgage is a credit that institutions (banking institute or a building society) provide in exchange of an asset. The asset is under the name of the institute until you pay the amount given and as soon as you are able to pay the credit back, the asset is no more on institute’s name rather is transferred to your name.
Are you looking forward to work with a Mortgage Company? Do you think it is your niche? Do you have the right drive to work in Mortgage Company? If so let’s have a look at what it entails to be a part of this industry.
Main focus in Mortgage Company
Now getting a home or any kind of real-estate could be really tiring for the people who intend to buy it. A person who is with the Mortgage Company has to have the ability to transform this tedious task into a smooth process and make the person’s purchasing a hassle free job.
Whatever job you are doing in a Mortgage Company be it behind the scenes or a job which is in fore front, dealing with clients your basic focus should be in making the transactions and processes hassle free.
Types of Jobs in Mortgage Company
Different types of jobs that one can find in this industry are:
- Loan Officer – Loan Officer are the fore front of the company, usually interacts with the clients (individual or an institution) and make their loan process go smoothly. This is a target based job, so be free to sell your services.
- Mortgage Processor – They work in collaboration with Loan Officer and Mortgage Underwriter. He is responsible to collect and verify all the documents required for loan approval. This is a fast paced job due to a timeline attached to it.
- Mortgage Underwriter – There work starts after mortgage processor has submitted the documents for loan. The decision for approval or denial of loan is based on underwriter. A survey stated that to be a underwriter one must have good logical and communication skills.
- Escrow Officer – They help in administrative tasks. There major job is to enable exchange of property from one party to another.
Whatever may the profile you want to develop your career in the Mortgage Industry, these jobs are fast paced, require a lot of interpersonal skills, so analyse and see if you are cut for this.