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Had a Mortgage Company Interview Today
Posted on 9/22/14 at 12:57 am
Posted on 9/22/14 at 12:57 am
Mud is interviewing for a mortgage officer position tomorrow. I don't know what to expect. I mostly have construction experience combined with zero Mortgage experience.
I think if I just shoot the shite I'll have a good chance.
UPDATE: Went in to the office and had good interview. The regional manager talked about the company itself and I talked about my sales experience. He said the job is a loan officer position and basically a sales position.
-$300/week base
-.75% sales commission (around 1,000 depending on loan amount)
-I have to get my own leads
-They cover 25% of my cost(wine & dinning clients)
They have benefits 401k(match around 2%) The pay sounds shitty to me but I wanted your guys advice on the business. Is it worth it?
I think if I just shoot the shite I'll have a good chance.
UPDATE: Went in to the office and had good interview. The regional manager talked about the company itself and I talked about my sales experience. He said the job is a loan officer position and basically a sales position.
-$300/week base
-.75% sales commission (around 1,000 depending on loan amount)
-I have to get my own leads
-They cover 25% of my cost(wine & dinning clients)
They have benefits 401k(match around 2%) The pay sounds shitty to me but I wanted your guys advice on the business. Is it worth it?
This post was edited on 9/22/14 at 4:37 pm
4
Posted on 9/22/14 at 1:03 am to Mud_Till_May
quote:
I think if I just shoot the shite I'll have a good chance.
Mortgage Company???????
If you shoot the shite AND show up drunk with a little blow to share....you will have a VERY good chance!
Posted on 9/22/14 at 1:09 am to Charlie Arglist
(no message)
Posted on 9/22/14 at 1:14 am to Charlie Arglist
I think I'll be fine. I believe they pay a low base but if work my arse off I might make a bit of change.
Posted on 9/22/14 at 1:19 am to Mud_Till_May
quote:
I believe they pay a low base but if work my arse off I might make a bit of change.
That is always true...of course, the last guy I knew that worked in the Mortgage business just got out of Federal Prison*!!!
*It was a prison "CAMP" in Pensacola and he was only there 5 years....I think he got to sweep sand and be on "Fire Watch."
Posted on 9/22/14 at 1:25 am to Charlie Arglist
I'm watching the Aryan Brother Hood right now. No way I would do something to put myself in jeopardy through fraud or something else illegal. Guy I got a loan through did that and got set up for about 7 years in federal prison as well. He was a fat white boy that got hooked on drugs while fricking his red headed coworker. He had a nice house and a brand new jeep. The guy was taking out additional money on loans and stuck them with it.
Posted on 9/22/14 at 1:35 am to Mud_Till_May
Well...write this down.."Red Heads are fricking Trouble."
Also...maybe go watch "Glengarry Glen Ross."
Good luck, and know that the Federal Court Judge is "supposed" to "assign" you to a BOP location within 500 miles of your "family."
Oh yeah....wear a tie.
Also...maybe go watch "Glengarry Glen Ross."
Good luck, and know that the Federal Court Judge is "supposed" to "assign" you to a BOP location within 500 miles of your "family."
Oh yeah....wear a tie.
Posted on 9/22/14 at 1:39 am to Charlie Arglist
I will wear a tie and hopefully things will go right. I don't really want this job but if the moneys good then I'll do it.
Posted on 9/22/14 at 1:42 am to Mud_Till_May
..ACTUALLY...I re-thought all of the advice that I previously gave you....
I actually think it is pretty great that you are going to this interview.
I would suggest that you not be too casual.
"Dress for Success" as they say.
Be serious about the job and let the interviewer know that you are prepared to give them 100%!!! YOU will do great.
Good Luck!
Posted on 9/22/14 at 1:45 am to Charlie Arglist
I had another interview with another financial institution and would have got the job but a person that had worked there before got the job.
Posted on 9/22/14 at 2:23 am to Mud_Till_May
Well....do your best and don't give up!!!!
Good luck. I have a feeling that you will be working soon!
Posted on 9/22/14 at 2:28 am to Charlie Arglist
Thanks Charlie.
Posted on 9/22/14 at 4:37 pm to Mud_Till_May
update
Posted on 9/22/14 at 5:07 pm to Mud_Till_May
So if I'm reading your OP correctly, you're making $15,600 base and roughly $1000 commission on each loan you put out. At a loan a week, that's $65k. Do you think you'll close a loan a week?
I know nothing about the mortgage industry.
I know nothing about the mortgage industry.
Posted on 9/22/14 at 5:12 pm to elprez00
No leads? So where do you get clients? Gonna be hard to close loans with no one to lend to. Good luck with that.
Posted on 9/22/14 at 5:13 pm to elprez00
quote:
Do you think you'll close a loan a week?
There is ZERO chance of this happening with him having to get his own leads unless he hooks up with multiple realtors that send everyone his way.
Posted on 9/22/14 at 5:16 pm to elprez00
quote:
So if I'm reading your OP correctly, you're making $15,600 base and roughly $1000 commission on each loan you put out. At a loan a week, that's $65k. Do you think you'll close a loan a week?
I'm pretty sure I wont close a loan a week. They were saying around 3-5 loans a month. That would be 1300/month base+ 3-5,000 commission/month.
Posted on 9/22/14 at 5:17 pm to Robin Masters
quote:
No leads? So where do you get clients? Gonna be hard to close loans with no one to lend to. Good luck with that.
You go to realtors and sell to them. They market the properties and you finance their sales.
Posted on 9/22/14 at 5:19 pm to Mud_Till_May
Forget that noise
I dont work on comission like that.
I dont work on comission like that.
Posted on 9/22/14 at 5:20 pm to lsu480
quote:
There is ZERO chance of this happening with him having to get his own leads unless he hooks up with multiple realtors that send everyone his way.
I agree, there is zero chance of doing a sale a week. If that was the case you would be pushing 10 million in loans at the end of the year. That's incredible but almost impossible.
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