Sunday, June 21, 2009

home loan originator

A home loan originator (loan officer or broker) is the sales arm of the home financing industry . An effective loan originator is one who can help to make a home purchase happen.he or she assists brokers and buyers in overcoming the single largest obstacle to completing a successful home purchase:obtaining financing."loan officers"work directly for lending institution."Brokers" are agents for various lending lending originators spend most of their day calling on industry salespersons or meeting with them and their clients. they are active in a variety of industry and community affairs both because they are "people oriented" and because the resulting interactions are the seedbed of their business opportunities. Much of their work occurs in the hours when households are buying homes,which often includes evenings and weekends. originators have a wide range of educational and experience backgrounds.Most have an undergraduate colllege degree,frequently in business. Compensation for originators can be good.for brokers it is achieved primarily through transaction-based commissions, though some firms may provide a 'draw" against future earnings or a modest salary at outset. loan officers,in contrast,are primarily salaried, with more modest upside potential.Residential lending is a blend of sales work and technical expertise.while the broker and loan officer must have a solid Knowledge of their products and of complex loan application and closing processes,their core business remains understanding,assisting,and influencing clients.

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