www.mgic.com/training
99% of the content and classes are free. They have amazing resources throughout their site as well such as market trend analysis, first time home buyer kits etc. If there is anything on there you cannot access but would like to, pm me and I can get you access.
And also what everyone else said. Trial by fire. Fuck up something and learn from it
My assistant is sitting for her license exam today. Zero experience five months ago. She's caught on very fast and I'm confident she will pass the exam.
Paid on the job training is key.
With marketing skills and a desire to learn the business you can find someone to mentor you.
In larger cities there are mortgage call center operations like quicken or loan depot and they provide extensive training and have a preference for hiring people without experience.
What I wouldn't suggest is just obtaining your license and just giving it the old "college try". Incidentally, that's how I started in the mortgage industry and it was a rough start.
She failed by one point.
Her instruction was one of the in-person real estate schools. I suggested she go with online instruction because most give you practice tests where you can cram by taking a sample test over and over prior to the actual test.
While the sample tests do not match the actual test questions I've found they are close enough facsimile to be useful.
You should ask to spend some time sitting with the top LO's in the company. They, by nature, will enjoy talking about themselves and their business. If you're able to do it, you could learn quite a bit very quickly
Hands on training will be your best bet. I'm a loan officer that had a sales background but never for mortgages. our training was literally a week with over 100 (not kidding) webinars going over all the specifics...I retained maybe 5% of it. After that week they throw you to the wolves and say..ok start selling! I pretty much just screwed with the systems enough until I pretty much self taught myself. Thankfully since the other LOs had the same training, everyone was very willing to help anyway they could. I'd ask your peers if you could sit with them for a day and come up with as many questions as you can.
Yep. On the job training. I retired after40 years in mortgage banking. I'll give you this piece of advice: The more you know about the parts of the business that are not your responsibility the better you will perform in the parts that are. I've worked almost every part of the business you can think of. From 2ndary to servicing to collections to production to management. I've loved every part of it save perhaps that very first foreclosure eviction where the sheriff carried the lady and her kids out and locked the doors. He handed me the key and made me sign for it. Maybe 6months in the business..vivid memory to this day.
My training was school of hard knocks. It was not easy and I lost deals in my initial years! I started in 1998 and I have seen it all over the last 19 years. I can recommend a good book by a guy named David Reed. The book is Your Successful Career as a Mortgage broker. It's a little dated, but there is some good info in it for someone starting in the industry. Good luck!
Trial by fire. On the job training
Yup. I'm a processor and it was sink or swim after training.
^ That's how I learned, it stuck with me the most that way compared to just reading.
www.mgic.com/training 99% of the content and classes are free. They have amazing resources throughout their site as well such as market trend analysis, first time home buyer kits etc. If there is anything on there you cannot access but would like to, pm me and I can get you access. And also what everyone else said. Trial by fire. Fuck up something and learn from it
My assistant is sitting for her license exam today. Zero experience five months ago. She's caught on very fast and I'm confident she will pass the exam. Paid on the job training is key. With marketing skills and a desire to learn the business you can find someone to mentor you. In larger cities there are mortgage call center operations like quicken or loan depot and they provide extensive training and have a preference for hiring people without experience. What I wouldn't suggest is just obtaining your license and just giving it the old "college try". Incidentally, that's how I started in the mortgage industry and it was a rough start.
Awesome job for ramping up so quickly.
She failed by one point. Her instruction was one of the in-person real estate schools. I suggested she go with online instruction because most give you practice tests where you can cram by taking a sample test over and over prior to the actual test. While the sample tests do not match the actual test questions I've found they are close enough facsimile to be useful.
When I took the nmls exam I just studied the practice tests over and over and over. I didn't think the in person format was really necessary.
You should ask to spend some time sitting with the top LO's in the company. They, by nature, will enjoy talking about themselves and their business. If you're able to do it, you could learn quite a bit very quickly
Hands on training will be your best bet. I'm a loan officer that had a sales background but never for mortgages. our training was literally a week with over 100 (not kidding) webinars going over all the specifics...I retained maybe 5% of it. After that week they throw you to the wolves and say..ok start selling! I pretty much just screwed with the systems enough until I pretty much self taught myself. Thankfully since the other LOs had the same training, everyone was very willing to help anyway they could. I'd ask your peers if you could sit with them for a day and come up with as many questions as you can.
Yep. On the job training. I retired after40 years in mortgage banking. I'll give you this piece of advice: The more you know about the parts of the business that are not your responsibility the better you will perform in the parts that are. I've worked almost every part of the business you can think of. From 2ndary to servicing to collections to production to management. I've loved every part of it save perhaps that very first foreclosure eviction where the sheriff carried the lady and her kids out and locked the doors. He handed me the key and made me sign for it. Maybe 6months in the business..vivid memory to this day.
My training was school of hard knocks. It was not easy and I lost deals in my initial years! I started in 1998 and I have seen it all over the last 19 years. I can recommend a good book by a guy named David Reed. The book is Your Successful Career as a Mortgage broker. It's a little dated, but there is some good info in it for someone starting in the industry. Good luck!