Mortgage originators help clients through the entire process of obtaining a loan. They usually work for banks or other lenders. Mortgage originators meet with clients interested in borrowing a mortgage, explain their options to them, and help them apply for a loan. Despite the title, mortgage originators actually see the mortgage process through until closing, making sure that an application makes it through the underwriting process when the company decides if a client is eligible for a loan or not.
Mortgage originators need to have excellent customer service skills to guide potential borrowers through the whole confusing process of applying for a mortgage. They also need excellent financial analysis skills and in-depth knowledge of a bank's products.
There are several ways to become a mortgage originator. Some get a bachelor's degree in business or finance, while others have only a high school diploma but plenty of professional experience working in finance, such as a loan officer. Sometimes they need a license from the state. Whatever their paths to this position, once they are hired, mortgage originators can earn an average salary of $43,611 a year and sometimes earn a commission.
How to Become a Mortgage Originator
What is a Mortgage Originator
There is more than meets the eye when it comes to being a Mortgage Originator. For example, did you know that they make an average of $22.89 an hour? That's $47,607 a year!
Between 2018 and 2028, the career is expected to grow 8% and produce 24,300 job opportunities across the U.S.
What Does a Mortgage Originator Do
There are certain skills that many Mortgage Originators have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed Detail oriented, Initiative and Interpersonal skills.
How To Become a Mortgage Originator
If you're interested in becoming a Mortgage Originator, one of the first things to consider is how much education you need. We've determined that 65.7% of Mortgage Originators have a bachelor's degree. In terms of higher education levels, we found that 6.3% of Mortgage Originators have master's degrees. Even though most Mortgage Originators have a college degree, it's possible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a Mortgage Originator. When we researched the most common majors for a Mortgage Originator, we found that they most commonly earn Bachelor's Degree degrees or Associate Degree degrees. Other degrees that we often see on Mortgage Originator resumes include High School Diploma degrees or Master's Degree degrees.
You may find that experience in other jobs will help you become a Mortgage Originator. In fact, many Mortgage Originator jobs require experience in a role such as Loan Officer. Meanwhile, many Mortgage Originators also have previous career experience in roles such as Branch Manager or Mortgage Consultant.
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Mortgage Originator Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of Account Executive you might progress to a role such as Account Manager eventually. Later on in your career, you could end up with the title Director, Inside Sales.
Mortgage Originator Jobs You Might Like
What is the right job for my career path?
Tell us your goals and we'll match you with the rights job to get there.
Average Salary for a Mortgage Originator
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Choose From 10+ Customizable Mortgage Originator Resume templates
Zippia allows you to choose from different easy-to-use Mortgage Originator templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Mortgage Originator resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
Mortgage Originator Demographics
Mortgage Originator Gender Distribution
After extensive research and analysis, Zippia's data science team found that:
- Among Mortgage Originators, 43.8% of them are women, while 56.2% are men.
- The most common race/ethnicity among Mortgage Originators is White, which makes up 67.8% of all Mortgage Originators.
- The most common foreign language among Mortgage Originators is Spanish at 66.7%.
Find the best Mortgage Originator job for you
Mortgage Originator Jobs You Might Like
- High Paying Mortgage Originator Jobs - $83K and Up
- Entry Level Mortgage Originator Jobs
- Part Time Mortgage Originator Jobs
- Actively Hiring
- No Degree Mortgage Originator Jobs
Top Colleges for Mortgage Originators
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. SUNY at Binghamton
Vestal, NY • Private
5. Villanova University
Villanova, PA • Private
6. San Diego State University
San Diego, CA • Private
7. Bentley University
Waltham, MA • Private
8. Boston University
Boston, MA • Private
9. SUNY Stony Brook
Stony Brook, NY • Private
10. New York University
New York, NY • Private
Find the best Mortgage Originator job for you
Mortgage Originator Jobs You Might Like
- High Paying Mortgage Originator Jobs - $83K and Up
- Entry Level Mortgage Originator Jobs
- Part Time Mortgage Originator Jobs
- Actively Hiring
- No Degree Mortgage Originator Jobs
Online Courses For Mortgage Originator That You May Like
Learn from the president and CEO of Finibi Mortgage, Joe Correa, how the entire mortgage process works...
A comprehensive US mortgage analysis. Covering all aspects of the residential mortgage industry in the US...
Finibi Mortgage CEO, Joe Correa, teaches you how to take your mortgage loan processor career to the next level...
Top Skills For a Mortgage Originator
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 21.7% of Mortgage Originators listed Loan Portfolio on their resume, but soft skills such as Detail oriented and Initiative are important as well.
How Do Mortgage Originator Rate Their Jobs?
Top Mortgage Originator Employers
Mortgage Originator Videos
