Mortgage loan officer?
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What are the requirements to become a mortgage loan officer or processor?
Mortgage loan officer?It depends on where you live. In many states the requirement to becoming a loan officer is just signing up with a broker, who is supposed to educate and guide you (not always they really do). Some states, such as Maryland, (and there is a trend towards it, but a slow one) require licensing, which means a course (40 hours in Maryland), a test usually, and various fees and registration with the governing authority. While it might mean that in license states knowledge by loan officers is higher, the differences between loan officers are large enough that it doesn't really matter.
Here is a source for requirements for becoming a processor:
http://www.mortgageprocessor.org/mortgag...
By the way, most are leaving the business now, due to the credit crunch and much lower volume. Therefore, it is a good time to start and be positioned to when it goes up again (and it is going up in refinancing activity).
Mortgage loan officer?The requirements vary state to state. Do a Yahoo search as follows:
mortgage broker licensing (your state)
You should be able to find the information very easily.
Good luck,
Jon
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