So, home values are falling, mortgage companies are going out of business and the economy is a mess. But, for me, the mortgage industry crisis is not that bad of a thing. After working in the mortgage industry for over 15 years, this downturn in the industry has afforded me the opportunity to actually do what I have wanted to do (and what I should have done right when I graduated from college) – become a teacher. I have talked about going back to get my credential for years, but it is hard to get out of a career where you are pretty settled, making a nice income and are overall enjoying what you do. But, it is not the same as having a passion for what you are doing – which is how I feel about being a teacher.
During college I worked for a mortgage company and learned a lot about the business. I worked in the data entry, document, underwriting, inside sales, secondary marketing and underwriting departments. Then, after college, I went to work for BrooksAmerica Mortgage Company, a wholesale mortgage company, and worked as an Assistant Vice President. At BrooksAmerica I worked in several areas but ended up as a liaison between the programming staff and operations. Additionally, I have done consulting work for several retail loan companies.
So, all that to just tell you that I have some experience in what I’m talking about. Now, not all mortgage companies may do business exactly like this, but my idea was to provide you with a general overview of how the industry works.
Over the next several entries I’m going to talk about the Primary Mortgage market, Broker/Lender responsibilities, the Secondary Mortgage market and then other related mortgage services. So, who knows if you'll find it interesting...but it was pretty fun for the last 15 years of my life.
During college I worked for a mortgage company and learned a lot about the business. I worked in the data entry, document, underwriting, inside sales, secondary marketing and underwriting departments. Then, after college, I went to work for BrooksAmerica Mortgage Company, a wholesale mortgage company, and worked as an Assistant Vice President. At BrooksAmerica I worked in several areas but ended up as a liaison between the programming staff and operations. Additionally, I have done consulting work for several retail loan companies.
So, all that to just tell you that I have some experience in what I’m talking about. Now, not all mortgage companies may do business exactly like this, but my idea was to provide you with a general overview of how the industry works.
Over the next several entries I’m going to talk about the Primary Mortgage market, Broker/Lender responsibilities, the Secondary Mortgage market and then other related mortgage services. So, who knows if you'll find it interesting...but it was pretty fun for the last 15 years of my life.
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