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Posted by pattyjamas on February 27, 2006, 6:40 pm
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I have a BS, MBA and the like mostly in the computer field
(management).
Very hard to find any management jobs in the past few years.
I was considering (and have an interest) in perhaps moving to a career
that I a more interested in with I hope greater demand-A loan officer
(and then take it from there).
I live in North Carolina and there are a few schools offering an all
day course, some training materials and a demo test to take. Then I
could study later and take the test at another time.
A few questions:
1`. How hard is the test?
2. If you fail can you take it again during some period?
3. How much math skills are involved and can you use a calculator?
Thank you very much.
All advice appreciated. Tired of being unemployed and also in a bad
field (IT) that does not interest me any more after 26 years.
Sincerely
Patty
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Posted by aceboku - making the investmen on March 17, 2006, 11:38 am
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If at first you don't succeed, try try again. Don't worry about taking
the test. It's not rocket science. Can you benefit from becoming a loan
officer? Sure. But it has it's ups and down. In this business you only
get paid when a loan closes and funds. If you've been working on a deal
for a customer and at the end they decide not to do the loan or go
elsewhere becuase they've been shopping you behind your back - you are
up the creek with no paddle.
My advice. Have a nice cushion of money in the bank so that you can
ride out the tough months if you want to be a loan officer. This
business is all about ebb and flow. Or diversify yourself in the field.
Become a residential AND commercial loan specialist. Cultivate
professional relationships by networking with attorneys, realtors,
accountants etc. Give honest and fairly priced service and learn to say
no to a potential deal. BE A SPECIALIST. Not a jack of all trades and
master of none.
Hope this helps.
Aceboku - making the investment, not the sale.
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Posted by aceboku - making the investmen on March 17, 2006, 11:39 am
Please log in for more thread options If at first you don't succeed, try try again. Don't worry about taking
the test. It's not rocket science. Can you benefit from becoming a loan
officer? Sure. But it has it's ups and down. In this business you only
get paid when a loan closes and funds. If you've been working on a deal
for a customer and at the end they decide not to do the loan or go
elsewhere becuase they've been shopping you behind your back - you are
up the creek with no paddle.
My advice. Have a nice cushion of money in the bank so that you can
ride out the tough months if you want to be a loan officer. This
business is all about ebb and flow. Or diversify yourself in the field.
Become a residential AND commercial loan specialist. Cultivate
professional relationships by networking with attorneys, realtors,
accountants etc. Give honest and fairly priced service and learn to say
no to a potential deal. BE A SPECIALIST. Not a jack of all trades and
master of none.
Hope this helps.
Aceboku - making the investment, not the sale.
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