Any Mortgage Brokers/MLOs out there?

[757bred]

Bumped into an old friend I hadn't seen in a while and he started telling me how he's an Mortgage Loan Originator now. He works from home independently, has his own hours and is doing pretty good.

I did a little research and found that to get started you can spend about $300 to take a 20 hour course online, pass the license exam and then be ready to go.

I work full time in IT now, but am thinking of doing is this on the side to see how it goes. I have a few friends/family members who are heavy into Real Estate as agents, rehabbers and investors, so think I could make some good moves.

Anyone out there in this field with any insight or tips?

 

[757bred]

Anyone?

 

[D StaXX]

I know a couple LOs since I work directly with them. I own an insurance company.
Some of them are doing pretty well for themselves and love what they do since you set you own hours and once you built your pipeline of referrals, it seems like it's self sustaining as long as you work.

Networking is definitely key so you'll want to have a lot of realtors in your pocket.
I know there's a lot of turnover and a lot of company hoping. Hope this helps.

 

[757bred]

I know a couple LOs since I work directly with them. I own an insurance company.
Some of them are doing pretty well for themselves and love what they do since you set you own hours and once you built your pipeline of referrals, it seems like it's self sustaining as long as you work.

Networking is definitely key so you'll want to have a lot of realtors in your pocket.
I know there's a lot of turnover and a lot of company hoping. Hope this helps.

Thanks for the info!