Loan Officer Gustan Cho
Loan OfficerForum Replies Created
-
Vermese, it was a very hectic day yesterday. My apologies for the delayed response. Please ask any questions you like. I like to discuss Q and A on this forum because I get to answer similar questions to all loan officer candidates at once without repeating myself. Thank you for understanding. Also, if you want to take the 20 hour pre-licensing school, I highly recommend you contact Angie Crippen at OnCourse Learning. She will go over everything you need about getting your NMLS license, the courses you need to take, and the practice exams. If you go through this link, you will get a discount. I do not take affiliate commissions and rather give my affiliate commissions toward those ordering licensing materials and practice tests to get your NMLS licenses. The very best to you and your future endeavors. I am sure you will have additional questions during your mortgage loan origination career path. https://gustancho.com/mlo-license-school/
-
There are certain states that have distance to residency requirements. What this means is that you need to live within 75 miles to a branch office where you will be sponsored by. However, Texas does not have that requirement. You can be licensed in Texas and be sponsored by corporate in Chandler Arizona or our branch in Oakbrook Terrace Illinois. Therefore, you can live in Texas and be licensed in a handful of states like California, Arizona, Oklahoma, Illinois, Florida, Alabama, Alaska, Hawaii, Washington DC, Vermont, Connecticutt, Georgia, North Carolina, North Dakota, South Dakota, Iowa, Minnesota, Virginia, Rhode Island, Montana, Oregon, Washington. States with distance to mortgage company or mortgage branch requirements are Wisconsin, Maryland, New Jersey, Nevada, Tennessee, Missouri, to name a few.
-
Prior experience is very helpful and even more experience than education. For example, it would help if you are experienced in customer service, servicing customer accounts, and solving problems. Work experience is very important. You are entrusted with a lot of responsibilities, financials, and trust so character is important. You cannot have a felony conviction in the past seven years or fraud conviction ever. Certain states like Texas are very anal when it comes to prior credit history. If you have a lot of outstanding debts, you may want to explore filing bankruptcy instead of pay old collections and charged off accounts.
-
Ronda, modular homes are much nicer than stick built homes and you can’t tell the difference.
-
You do not have to be licensed to become a commercial loan officer. Commercial Loans are not regulated like residential loans
-
Of course. I live in Wisconsin and could not get licensed in Wisconsin for the longest time until I filed bankruptcy
-
You can live in Texas and be licensed in California
-
Check out http://www.lendingnetwork.org. What type of real estate experience do you have or contacts do you have
-
Yes. Once credit is cleared up you can get approved for Texas NMLS license. You don’t have to pay off your charge offs or collections. Payment plan is good too. Credit scores don’t matter. Just timely payments
Social Media Links