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This question is about mortgage broker.
How to get into the mortgage industry
Getting into the mortgage industry requires both education and licensure. Earning a bachelor's degree in a relevant field and completing an internship are the best ways to break into the mortgage industry.
Without prior industry experience, candidates can improve their chances of being hired by obtaining a bachelor's degree in finance, business, statistics, or accounting.
A degree in one of these fields will guarantee that basic principles inherent in the different fields of the mortgage industry have been covered. Numerous jobs in the mortgage field align with these degree paths.
While education is important for those without industry experience, it is not required. Anyone desiring to work in the mortgage industry must take a pre-licensing course. The course is sponsored by the National Mortgage Licensure System and covers federal and state regulations.
The next step involves passing the SAFE Mortgage Loan Originator Test. This exam also covers state and national laws and regulations and must be passed with a 75% or better score.
With your licensure in hand, working with a brokerage firm as an intern is a good idea. It is possible to work as an intern after obtaining your pre-license and prior to securing your license.
An internship will allow you to make contacts and understand the industry's diverse roles. From escrow officer and mortgage loan originator to underwriter and broker, the mortgage industry offers numerous roles that may align with a candidate's educational and experiential background.
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