Why you choose to be a mortgage broker? I became a mortgage broker because I thought I have the efficient skills for becoming a good mortgage broker. These skills, from my perspective are sales background or marketing background, knowledge on institutions for lending, their rates of lending as well as terms, credit reporting familiarity and criteria with credit worthiness, mathematics proficiency and good writing as well as spoken skills. Furthermore, I consider for being a good mortgage broker, one needs to have a personality of outgoing nature along with desiring to be of help. Mortgage brokers need to have the ability to provide explanation on finance related concepts along with providing information to clients. I had each of these skills and I thought why not use them right?
What services do you provide as a mortgage broker?
As a mortgage broker I work as a middleman between homeowners or borrowers and the lender mortgage or banks.
What changes do you expect in the future?
As a mortgage broker, there are 5 key regulatory changes that will hit the mortgage market. These are inclusive of final mortgage disclosure form being delayed, regulators wanting lenders to turn in themselves, a distinct QM definition faced by the bankers from FHA, CFPB weighing new guidance over borrowers that are bankrupt and new servicing rules for mortgages.
How do you keep yourself and your teammates motivated?
I give myself and my team credit for everything that we do. This credit is not financial but it is completely intellect based.
What was the most stressful situation you have faced as Mortgage Broker?
As a mortgage broker I have faced risks from the clients. Identifying the ones from those having potential to those not having potential is a difficult situation. I have faced these several times.