My wife, facing a hard time as an independent adult ESL teacher (after 9/11) responded to one of these types of ads in the newspaper. She is exactly what the kind of person this guy is looking for. Hard working, ethical, smart, good with people and willing to learn. She made more money than she ever could imagine as a teacher. She single handedly helped keep her branch profitable within months!

I don’t think the mortgage industry should erect barriers to keep people out. For many people this industry has provided the exact balance they need to make something out of life! I think it’s the powers to be that want to change that and make it some kind of exclusive club for the “smart kids” or something. I don?t think any amount of licensing will keep the bad apples out.

As an example, if you’re worried about quality, the real estate community has licenses and classes and renewal hours, but there are just as many bad apples there as there are in the mortgage industry. The nature of the industry is such that it attracts all kinds of people. If you?re seeking a bump in your income and have a work ethic, the mortgage industry is perfect. Most everything is easy to understand, high school math is all you need, and once you?ve made some money you can start going to the wonderful seminars to educate yourself and move forward. No PhD required, no Masters, 7-9 years experience not required for $100K income ? a perfect storm if you ask me!

The bottom line is anyone can become a loan officer, it’s not rocket science. You work hard, apply yourself and you can be very successful. I say never change that. Just tweak it a little so you can improve the industry a bit, but other than that, no “exclusiveness” please….

calaveras county translated means “skeletons county”

Many people have made a good living treating their clients “well.”

I’ve never met these guys so I have no idea how it’s done at their firm. But we could guess.

Environmental conditions are crucial.

We all understand that the sole purpose of a corporation is to make money for it’s shareholders (within the bounds of the law.) So the environment in which we work becomes a foundation for the behavior enacted day in and day out.

In the video, these folks are recruiting people who want to earn big money, not necessarily people who want to learn mortgage lending, who want to fully understand FHA/VA/Conventional, who want to establish trusting relationships with Realtors, and so forth.

So we could guess that the environment at that firm is probably very money-driven.

And we wonder why consumers don’t trust mortgage lenders. and why congress will likely pass HR3915

One video like this hurts the whole industry, even the good guys.

BizBuySell

Profitable 45 State Mortgage Lender
Hi Profit 45 State HUD Mortgage Lender For Sale
Calaveras County
Irvine, California

Financials
Asking: $750,000
Gross: $3,000,000
Cash Flow: $400,000
FF&E: $20,000 (included in the asking price)

Business Summary
Profitable 45 state mortgage lender for sale. In this market the key to success is being able to lend nationwide and have full acces to FHA programs. We have full audited financials, warehouse line of credit approvals, HUD/FHA Full Eagle license. 20 Branch office that provide passive income, 15 sales agents internally in Irvine california. $3,000,000 in revenue. Low cost marketing systems in place done in house, No need for experiance, will train. Approved to do escrow which is another income stream if utilized. This operation is turn key, and very well established.

General Information
Year Established: 2004
Employees: 50

Facilities: We have a wonderful space arrangement. 4,000 square feet. We occupy apprx 3,500 and another tenant sub leases space for nearly 90% of the monthly cost of lease.

Market Outlook
Competition: We have the winning combonation: 1 – LIcensed 45 States HUD FHA 2 – Branch Biz w/Passive Income 3 – Low Low Cost Marketing
Growth/Expansion: The Branch biz is a cash cow. We take 10%-20% of all loan fees. This division could be expanded to 500 plus sales reps. That is easily 2mil net per year.

The whole industry: call centers or bloggers, door-to-door knockers and seminar givers, Realtor shmoozers and financial planner shmoozers, direct-mail houses and kiosks in malls- anybody originating mortgages, needs to worry about the customers, not each other.

Here is my call to action…everybody- let’s get to work! The American homeowner needs us now, more than any other time I’ve seen in the past 15 years.

Do that and six figs a year is as simple as they say it is.