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HOW TO BECOME A LOAN OFFICER
The Step-by-Step Guide to Launching Your Career in Mortgage Lending
If you're looking to change your career path and expand your opportunities, becoming a mortgage loan officer is a great way to network, diversify your portfolio, help people, and make money!
By utilizing the following steps, our team of loan officers could work with real estate investors from all over the country on all types of loan scenarios and investment properties. Each of our team members took the following steps to become the successful loan officers they are today and join the Stratton Equities team.
If you already have completed the following steps to become NMLS licensed - and are looking for a career in the mortgage industry with Stratton Equities, find out more on our Careers Page and apply to our Loan Officer Positions in the mortgage industry.
How to Become a Loan Officer for a Mortgage Lender in 4 Simple Steps
Becoming a Loan Officer is more than just understanding the financial landscape; it's about guiding individuals through one of the most significant decisions of their lives.
At Stratton Equities, we value the role of our Loan Officers as essential connectors between potential borrowers and their financial goals. Let's explore the journey of becoming a standout Loan Officer, from acquiring the necessary credentials to understanding the nuances of the role, and how Stratton Equities supports your growth every step of the way.
As part of Stratton Equities, our team of Loan Officers could directly work with nationwide real estate investors on all types of loan scenarios and investment properties.
Through our dedicated hands-on loan officer training with our experienced management team, we ensure our sales team has every opportunity and resource to succeed.
We want our mortgage loan officers to feel like you have the information and guidance needed to start advancing your career today!
On this page, we will answer the following questions:
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What are the Steps to Becoming a Loan Officer?
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How do you Apply to become a Loan Officer?
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How to Obtain a Nationwide Mortgage Licensing System License?
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What are the Benefits of becoming a Loan Officer with Stratton Equities?
Step 1: Obtain a Nationwide Mortgage Licensing System (NMLS) License
To become a Loan Officer with Stratton Equities, you have to gain the Mortgage Loan Originator (MLO) license from the Nationwide Mortgage Licensing System (NMLS). The NMLS is an agency that regulates and provides licenses to MLOs that complete and continue to abide by all their requirements and mortgage regulations.
To obtain your NMLS license you must complete their pre-licensure class and pass the SAFE Mortgage Loan Originator Test. Once these courses have been completed (and passed!) you can submit your information and apply for your NMLS License.
When your application is received for the NMLS license, all your information will be processed through a complete background check, and then once it's passed with flying colors - you can pay the fees for the license and obtain your NMLS license. There may be some variations depending on which state you live in.
Step 2: Find a Position as a Mortgage Loan Officer & Training
Our CEO & Founder, Michael Mikhail, knows that a large amount of learning takes place on the actual job and provides a hands-on approach to the onboarding of every new hire. Once you land a job, during the first few months, there is formal and informal on-the-job training.
It is important to mention that not all mortgage lenders offer the same opportunities or access to the same mortgage programs. For example, Stratton Equities has the most diverse amount of mortgage loan programs under the same roof.
This allows our loan officers to submit different types of loan programs to large amounts of loan scenarios. Most other companies focus only on one niche of the industry or they focus solely on conventional loans.
We are focused on providing as much support as we can to any prospective or experienced mortgage loan officer who works within our team. At Stratton Equities, we provide daily organic leads to our loan officers directly, whereas other companies request that their loan officers take more of an outside approach to finding their leads.
Our management has created guidelines and extensive training to ensure that every LO has the opportunity to succeed and close their first loan in 4-8 weeks after the completion of training.
Step 3: Certification (Optional)
Mortgage Bankers Association (MBA) and American Bankers Association (ABA) are two of several banking associations that offer certifications for loan officers. If you want to bolster your credentials and illustrate your investment in the career path, you should apply for this type of certification.
Step 4: Renewing Your NMLS License Each Year
The NMLS license must be renewed every year. About eight hours of continuing education courses must be taken every year to be able to renew your NMLS License.
Other requirements may vary by state. If you did a certification, it must also be renewed every number of years depending on the type of certification.
Now that you've received your license, you can apply to join the Stratton Equities team! Apply Now!
Why Should You Become a Loan Officer with Stratton Equities?
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Stratton Equities has the most amount of mortgage loan programs under one roof offering direct access to a variety of options for the borrower.
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Direct Daily Organic Leads.
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Our Innovative Loan Programs can be utilized nationwide from coast to coast.
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Stratton Equities has the lowest private money rates starting at 6.99%.
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Our team of experienced Loan Officers can close a loan in 6-8 weeks - with a loan approval process of 24-48 hours.
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Unlimited Earning Potential.
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Hands-on Training & Management Support.
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We have a passionate management team that properly mentors each Loan Officer, to ensure they understand every unique mortgage program while providing guidance every step of the way.
Join our team today!