How to Become a Loan Officer

How to Become A Loan Officer for a Direct Private Money Lender in 3 Simple Steps

 

Whether you're already in the industry or just beginning, becoming a Loan Officer for a direct private money lender or any mortgage company, is a great way to network, make money, help people, and expand your financial opportunities.

 

The most important thing you need to become a Loan Officer is Licensure, which is required for Loan Officers that work with Private money, QM, and NON-QM mortgage programs. 

Aside from obtaining a license, there are just a few steps to becoming a successful Loan Officer and each member of our team has had the ability to work with real estate investors from all over the country on all types of loan scenarios and properties.

 

Each of our Loan Officers took the following steps in order to become the successful in working with a Direct Private Money Lender, like Stratton Equities.

We are always looking to bring in another loan officer to join our team! If you already have completed the following steps and are ready to apply to join the Stratton Equities' team, and being closing loans, apply now!

Step 1: Obtain an NMLS License

Loan Officers must be able to specifically and clearly answer any questions Real Estate Investors may have and guide them through the loan application process. Not only is it important to have excellent interpersonal and communication skills, but it's important to be well versed in all types of Loan Programs.

However, none of this is possible without a Mortgage Loan Originator (MLO) license from the Nationwide Mortgage Licensing System (NMLS). 

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 (& passed!) you can submit your information and apply for your NMLS License.

 

When your application is received, processed, and passed - you will receive your NMLS license and can join the Stratton Equities team!

Step 2: Training & Work Experience

At Stratton Equities, we always look for previous experience as a Loan Officer, however we are passionate about bringing tenacious, hungry, and hard working Loan Officers on board regardless of their experience. 

 

Aspiring loan officers can establish themselves in the field by seeking employment in a variety of settings, including customer service, banking, and sales.

 

Our CEO & Founder, Michael Mikhail has developed a hands-on approach to on-boarding new Loan Officers as he knows that a large amount of learning takes place on the actual job. Stratton Equities' Loan Officers need to know about each of the different loan programs we offer and we ensure that each Loan Officer has the proper training to understand the intricacies of these unique programs.

Our management has created guidelines and extensive training to ensure that every LO has the opportunity to succeed and close their first loan in 4-6 weeks.

Step 3: Renewing Your NMLS License

The NMLS license must be renewed on a yearly basis.

Now that you've received your license, you can apply to join the Stratton Equities team! Apply today

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