How to Become an Accredited Mortgage Broker

Step-by-Step Guide

1. 1

   Step 1: Earn a bachelor's degree in finance

   Accredited college programs are best for future mortgage brokers.
2. 2

   Step 2: economics or business before becoming an accredited or certified mortgage broker.

   If your company employs accredited brokers, seek a promotion after a few years of experience.
   
   As an alternative, see if your employer offers certified mortgage broker training, such as U.S.
   
   Bank or Bank of America. , In many states, the state banking authority for accredited brokers is the state's Department of Savings and Mortgage Lending. , Campus MBA offers several programs with three levels: achievement level, certificate level and specialist level. , CampusMBA is the only provider of the Certified Mortgage Banker� (CMB�) Designation, which is considered the professional industry standard. , Lenders might be banks, credit unions, private lenders or others.
   
   Maintain a good relationship with lenders.
   
   If they are unhappy, they will refuse to do business with you. ,, Many banking careers are really about selling a product or a service.
   
   Get the word out that you have financing available for mortgage loans. ,,, Mortgage brokers can be paid by the borrower, the lender or both.
3. 3

   Step 3: Gain experience in banking

4. 4

   Step 4: particularly in lending activities.

5. 5

   Step 5: Confirm state requirements to be a licensed

6. 6

   Step 6: certified or accredited mortgage broker with your state banking authority.

7. 7

   Step 7: Enroll in CampusMBA

8. 8

   Step 8: the educational arm of the Mortgage Bankers Association

9. 9

   Step 9: for specialized training.

10. 10

    Step 10: Each certificate is earned by passing an exam after 50 classroom hours.

11. 11

    Step 11: Build a network of lenders within the banking industry.

12. 12

    Step 12: Become adept at putting together mortgage applications and negotiating terms with lenders.

13. 13

    Step 13: Practice selling your services.

14. 14

    Step 14: Join civic groups

15. 15

    Step 15: the Chamber of Commerce

16. 16

    Step 16: the PTA or any group that allows you to make contact with others.

17. 17

    Step 17: Increase your accountability to others by meeting bonding requirements and maintaining consistent net worth.

18. 18

    Step 18: Decide how you will be paid if you are working as an independent accredited mortgage broker.

Detailed Guide

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