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I’m looking to start a new career. I’ve had some experience working as a escrow assistant for a Title company and have always been interested in the business. I came across a company that will train me to be a loan officer and I would be allowed to work from home. I do know it’s a commission based job. I worked for nearly a year selling AT&T door to door strictly commission and am not afraid of commission jobs. My question is, with the economy the way it is right now is this a good time to start a commission based job as a loan officer for a mortgage company?? I don’t want to waste my time. You know what I mean?

3 Thoughts on Good time to be a Loan Officer in Texas?
  1. Reply
    July 4, 2012 at 5:21 am

    As long as you have saved at least 6 months of your expenses, you can conside it. But, the market is down almost across the board and there is a glut of both real estate agents and mortgage brokers who are starving right now. Money is tight and things will certainly get worse next year, so if I were you I’d hold on to a job where you have steady income and hopefully health insurance.

  2. Reply
    July 4, 2012 at 5:47 am

    I am a commission based mortgage originator at a local bank. My income has dropped off considerably in the last two months. People are not applying for loans right now at the rate they were this time last year. If you have not been in mortgage and already know the rules and how to work it. I would seek another profession. This is a dog eat dog job. There are many mortgage originators on the streets right now hunting for jobs. I am lucky that I work for a bank and not at a mortgage retail business. My job security is not guaranteed. I wish you the best of luck and if you decide to pursue the job offer. You can shoot me a question any time at [email protected]. Good Luck

  3. Reply
    Ed Atun
    July 4, 2012 at 5:57 am

    This is the absolute best time to learn the business. In the “boom” times no one was available to do any training. Every new loan officer was left to “sink or swim” and most sank. If you get the training now, you will be in excellent shape when the good times return. They always return. I would recommend that you “sub” one day a week at a local escrow company as an escrow assistant. Those people will refer all business to you when people enquire about loans..

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