Mortgage Advisor Career


 Career Description:

Mortgage advisors help people searching mortgage facility to identify and apply for the correct mortgage. They ensure that their clients are completely informed about the variety of mortgages available. The job responsibilities of such a professional include dealing with the estate agents, keeping abreast of the current mortgage laws, meeting sales targets, working closely with clients etc. A mortgage advisor develops new prospects, augment business relationships, apply expert knowledge and generate leads.

 How to become a mortgage advisor:

A mortgage adviser must have a high school diploma. A bachelor’s degree is preferred, with at least two years of experience in handling mortgage loans. Experience in mortgage processing, operations and underwriting is often required for commercial properties, along with knowledge of the relevant federal and state guidelines and their amendments.

Sound communication and interpersonal skills are the virtues of a mortgage advisor. Interest in financial and legal matters, trustworthy and honest attitude and the ability for explaining complex information are requisite skills.

 Mortgage advisor career courses, training and programs:

 The training for a mortgage advisor usually takes place at the mortgage broker or banker’s office. Any intending advisor may have to appear for the industry endorsed qualification examination that adheres to the relevant state and federal criteria. Refresher training programs are held frequently.

 Mortgage advisor career schools/colleges, education:

No formal training is usually conducted by a school or college for mortgage advisers. Some institute conduct appraisal classes for the benefit of students intending to join the profession.

 Top 5 colleges/universities:

Colorado Institute

Columbia School of Business and Economics

Rochester University

Syracuse University

Michigan State University

 Mortgage advisor job opportunities, salaries/pay:

The salary mortgage advisors could be anywhere between $18,500 to $26,750 without any commission. With commission, the cumulative earnings can go over $55,650. Many mortgage advisors prefer working as independent professionals and charge fees for the services rendered.

Category: Banking Careers

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