How can one be a mortgage broker?

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Keyword - Be a mortgage broker How can one be a
mortgage broker? Becoming a licensed mortgage
broker can be one of the life-changing career
moves. More and more people are turning to be a
mortgage broker to help them in securing a
mortgage rather than dealing with the big banks
and that means that the industry is constantly
growing. With outstanding earning opportunities
and a flexible work environment, it is a career
that is rewarding, exciting, and finest of all.
In this, you will assist people to get the
outstanding mortgage possible and help them in
achieving their homeownership goals. Steps that
one needs to follow to be a mortgage broker One
need to follow these steps to be a mortgage
broker such as - Step 1 - One need to earn a high
school diploma or GED While the loan officer
position customarily requires a bachelors degree
to meet the education requirements, you will only
need to have a high school diploma before
starting your training for a mortgage broker
position. In case, if you do not have your high
school diploma or GED, consider taking classes at
your local community college or using online
resources to study for the GED exam, which can be
taken either online or in person. Once you have
this credential, you will be ready to start your
mortgage broker training. Step 2 - Obtaining a
mortgage broker license To meet the
qualifications for mortgage broker careers, you
will also require a license. Before you take the
licensing exam to earn a mortgage broker
certification, you will need to take a course to
learn the admissible laws, guidelines, and skills
for mortgage brokers. The National Mortgage
Licensure System (NMLS) endeavor 20-hour courses
that will prepare you for the licensure exam. The
exam is also directed by the NMLS. The NMLS fee
to be a mortgage broker varies by state but is
usually around 1500. Once you pass the exam, you
will be ready to take the next step in becoming a
mortgage broker and thus getting a job. Step 3 -
On-the-Job Training After you become licensed as
a mortgage broker, you will still require to gain
practical experience through on-the-job training.
Once you are hired by a brokerage firm, you will
likely spend several weeks working alongside an
experienced mortgage broker and learning from
them. This will aid build the skills you require
to eventually work independently to search for
mortgage loans for your clients. These are some
of the steps following which one can be a
mortgage broker.