Question:

What includes the mortgage broker job description?

Answer:

Well, brokers don't need college education. In fact, a mortgage broker job description would entail great communication skills 90% of the time. Every broker has to get licensed or at least attend mortgage broker courses before starting their practice.

A junior mortgage broker will begin their career by selling relatively small loans to bad credit customers. Mortgage brokers will need to know how to read a credit report and how not to offend people who do not qualify for the greatest rates. The borrower should rest assured that the broker would do anything to help them get a better loan but that this is really not up to the broker. There are rules and every borrower with their circumstances would be treated the same way and get the same rates.

A common question mortgage brokers are commonly asked is if a refinance will be possible. Sometimes it is not, and the broker again has to turn the borrower down. A good mortgage broker, though, will do a good job and advise borrowers how to improve their credit or consolidate debt. Having the borrower make a debt consolidation loan brings in commission for the broker.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
Was this Mortgage QnA helpful?
Not at all
  • Currently 2.8/5 Stars
  • 1
  • 2
  • 3
  • 4
  • 5
Definitely
Add to this Answer

Mortgage QnA is not a common forum. We have special rules:

  • Post no questions here. To ask a question, click the Ask a Question link
  • We will not publish answers that include any form of advertising
  • Add your answer only if it will contrubute to the quality of this Mortgage QnA and help future readers
If you have trouble reading the code, click on the code itself to generate a new random code. Verification Code Above:
Bookmark and share this QnA: