My name is Doug Vairo, author of Mortgage Boot Camp for Loan Officers and Real Estate Agents. Like many of you, I started in the mortgage business knowing VERY VERY little about mortgages and how they worked. OK, let’s call it knowing NOTHING. Even though I had already owned a home I was like most people. All I cared about was rate, payment and maybe if it was a fixed rate loan.
In this business you either learn fast or you’re toast. It’s my opinion that there are three types of Loan Officers. First, there are natural sales people (in every type of sales, including mortgages) that can sell anything with little knowledge of the product. My guess is that is 1 out of 100 and is not you. It certainly was not me.
I often ask loan officers how long it took them to feel really comfortable in the business. The most common answer I receive is one year. There are times that I hear 6 months but that is rare. It honestly took me two years before I felt 100% comfortable and I was already training other loan officers for over a year.
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