Remote Mortgage Loan Officer Career Opportunities

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A career as a remote mortgage loan originator can be one of the most rewarding and highest-paying careers available today. Gustan Cho Associates dba of NEXA Mortgage, LLC is hiring experienced licensed remote loan officers nationwide. A career as a loan officer is different than any other career in the sense that this job has endless opportunities. The sky is the limit to how successful you want to be. In a way is like having your own business. As time passes and a loan officer closes more mortgage loans their business will expand.

100% Remote Mortgage Loan Originator Career Opportunity

In this guide on remote mortgage loan officer career opportunities, we will cover and discuss Remote Mortgage Loan Officer Career Opportunities at Gustan Cho Associates, empowered by NEXA Mortgage, LLC. NEXA Mortgage, Inc. founded in 2017 by CEO Michael Kortas is the fastest growing largest mortgage broker in the nation.

There is a reason why NEXA Mortgage Group, Inc. has gone from a 4 man operation in 2017 to the current 2,000 licensed loan officer strong national mortgage broker. It is all in the founder’s common sense applies foundation and how the company has a stone solid business foundation. Speak With Our Loan Officer for Mortgage Loans

Preferred Referral MLO Partner Opportunities

One of the greatest benefits of working at Gustan Cho Associates is our in-house marketing department. Loan Officers come in contact with referral partners. Here are examples of referral partners:

• Home buyer’s realtors
• Sellers realtors
• Buyer’s attorneys
• Seller’s attorneys
• Divorce Attorneys
• Bankruptcy Attorneys
• Title company officers
• Insurance agents
• Accountants
• Financial Planners
• Home inspectors
• Other real estate industry professionals

The above list of professionals can be referral partners and can refer potential mortgage loan borrowers to loan officers. Gustan Cho Associates Mortgage Group Marketing Department can co-brand referral partners with loan officers by creating flyers, brochures, mailers, custom websites, and landing pages.

Exploring Career Opportunities as a Remote Mortgage Loan Officer

The evolving job market has significantly increased remote work opportunities across various industries. Among these, the role of a remote mortgage loan officer stands out for its blend of financial expertise and flexible working conditions. This article delves into the career opportunities available for remote mortgage loan officers, highlighting the benefits, requirements, and potential growth in this dynamic field.

What Does a Remote Mortgage Loan Officer Do?

A remote mortgage loan officer assists clients in securing mortgage loans while working remotely, often from home. Their primary duties include:

• Evaluating financial information.
• Advising clients on loan options.
• Processing loan applications.
• Ensuring compliance with relevant regulations.

This role demands a high level of financial understanding, customer service skills, and adherence to strict confidentiality protocols.

Benefits of Being a Remote Mortgage Loan Officer

One of this career’s most appealing aspects is its flexibility. Remote mortgage loan officers enjoy the benefits of working from anywhere, which reduces commuting time and costs. The ability to set flexible working hours also contributes to a better work-life balance. Additionally, the remote nature of the job can lead to increased productivity and job satisfaction.

Qualifications and Licensing Qualifications

A high school diploma or equivalent is typically required to become a remote mortgage loan officer. However, many employers choose candidates with a bachelor’s degree in finance, business administration, or an equivalent discipline. Additionally, obtaining a state-specific license is mandatory. This process involves completing 20 hours of pre-licensure education, passing the National Mortgage Licensing System (NMLS) exam, and undergoing a thorough background check. Some states may have additional requirements.

Career Opportunities and Job Market

The demand for remote mortgage loan officers has grown significantly, driven by the increasing acceptance of remote work and the need for flexible lending solutions. Remote mortgage loan officers are employed by various entities, including banks, cooperative banks, member-owned financial cooperatives, mortgage companies, and other financial organizations. This diversity of potential employers enhances job prospects and career stability.

Salary Expectations

Compensation for remote mortgage loan officers varies depending on experience, location, and employer. Generally, annual salaries range from $45,000 to $100,000, with the potential for higher income through commissions and bonuses. This variability allows individuals to align their income with personal and professional goals. 

Connect With Our Loan Officer for Mortgage Loans

Daily Responsibilities and Tools

The daily tasks of a remote mortgage loan officer include:

• Communicating with clients.
• Reviewing financial documents.
• Assessing creditworthiness.
• Recommending loan products.
• Processing applications.
• Making certain compliance with lending regulations.

Remote mortgage loan officers utilize tools such as customer relationship management (CRM) software, mortgage loan origination systems, video conferencing tools, and secure document management platforms to efficiently perform these tasks.

Challenges and Solutions

While the remote nature of the job offers many advantages, it also presents unique challenges. These include managing time effectively, staying motivated, securing confidential information, and maintaining clear communication with clients and colleagues. Overcoming these challenges involves:

• Setting a structured schedule.
• Using time management tools.
• Maintaining a dedicated workspace.
• Utilizing secure communication channels.
• Regularly updating all stakeholders.

Career Growth and Development

The career path for remote mortgage loan officers offers numerous advancement opportunities. Professionals can move into senior loan officer roles or management positions or specialize in specific types of loans. Continuous education and obtaining additional certifications can further enhance career prospects. Staying updated with industry tendencies and regulations through webinars, professional development courses, industry associations, and networking is also crucial for career growth.

Can I Work Remotely as a Mortgage Loan Originator Without Experience?

We do require that remote loan officer candidates have at least one year of full-time loan origination experience with the following financial institutions. New loan officers without any loan originator experience can enroll in our new loan officer training academy at NEXA Mortgage, LLC. Loan officers with experience in the following financial institutions are taken into consideration to by-pass the new loan officer training academy:

• Mortgage Brokers
• Mortgage Banking Companies
• Banks
• Credit Unions
• Wholesale Account Executive Experience

Starting a Career As a New Mortgage Loan Officer 

As a beginner in this business, newer loan officers will need to understand that it will take some time and a lot of hard work to establish themselves and brand their name. Unlike other careers, a career as a mortgage loan originator has no caps on compensation.

Many hard-working beginners can easily make six figures in their first year and their incomes continue to escalate year after year.

We will be discussing how to launch your career as a licensed mortgage loan originator and how to become a top producer in this mortgage blog article. We currently have Mortgage Loan Officer Career Opportunities Nationwide. BUT one-year full-time experience is required.

How Can I Get Trained As A New Mortgage Loan Officer?

We have an excellent training program for those with at least a one-year full-time experience. A senior mortgage loan officer will be assigned to the new loan officer. The first 20 to 30 mortgage loan applications will be worked on together with a supervising senior loan officer so the newer loan officer will know every possible case scenario. Mortgage Loan Officer Career Opportunities hired by Gustan Cho Associates, need to under a one-week training/orientation.

Why Choose Gustan Cho Associates?

Gustan Cho Associates is licensed in 48 states including DC, Puerto Rico, and the U.S. Virgin Islands (We are not yet licensed in NY and MA). Gustan Cho Associates, Inc.’s regional headquarters is in Oakbrook Terrace, Illinois. All expenses for GCA-sponsored loan officers will be paid by Gustan Cho Associates: Flight, room and board, and expenses. Full benefits provided: Medical, Dental, Vision, 401k.

Marketing Yourself And Branding Your Name

Marketing is the most important part of any business. You can be the best attorney, realtor, insurance agent, doctor, dentist, a mortgage loan officer in the world but if you cannot get customers, then you have no business. We are one of the most aggressive mortgage lenders in the country with no mortgage lender overlays. Over 75% of our borrowers are folks who were told that they cannot qualify somewhere else due to their mortgage lender overlays.

Speak With Our Loan Officer for Mortgage Loans

Gustan Cho Associates Has No Lender Overlay Broker Platform

Most lenders have a minimum credit score requirement of 640 FICO to qualify for an FHA Loan when the minimum credit score requirement from HUD ( parent of FHA ) is 580 FICO credit score. This higher credit score requirement is called a mortgage lender overlay by the particular lender. Often times the lender that is telling the borrower does not tell them that they can qualify with a lender like us where we do mortgage loans with 580 FICO credit scores all day long.

Our Loan Officers Have Access To 190 Wholesale Lending Partners

Another common denial by other lenders is debt-to-income ratio overlays. HUD allows up to a 56.9% debt-to-income ratio cap for home loan borrowers with at least a 620 FICO credit score. Most lenders will have a debt-to-income ratio cap at 45% so many get turned down by debt-to-income ratio overlays. We do higher debt-to-income ratios mortgage loans all day long. I can go on and on with the various case scenarios.

Gustan Cho Associates Has National Reputation for Being Able To Do Home Loans Other Lenders Can’t Do

The bottom line is that we have a product that millions of mortgage loan borrowers need and exists and marketing is the key. You, as a new mortgage loan originator with us, need to let the world know that you are a mortgage loan officer that can do a loan where others cannot and only go by federal minimum lending guidelines and have no overlays. A large percentage of our business is from borrowers who got turned down by several other lenders due to their overlays. As you meet more realtors as time goes by, your realtor partners will realize that you are the lender to go to and this is the start of your marketing process and grow your career as a mortgage loan originator.

Remote Loan Officer Jobs With Marketing Support

We offer a personal website to all of our new loan officers and our marketing department will help each new loan officer optimize their new website with search engine optimization through blogs, videos, social media, newsletters, and listing their website to over 50 online directories for maximum exposure. Websites will have a Word Press platform where you can write blogs and share them on Facebook, LinkedIn, Google, Twitter, email campaign, and other network platforms you may have.

As your website ages and has more content, your exposure will increase and a large percentage of borrowers will be from your viewers who will be contacting you from the information and blog articles that are on your website.

Your contact information which includes your name, your biography, and the services you offer will all be on your website. Your potential clients will also be able to apply online and you get alerted once they complete the secured online mortgage loan application. Since your audience and target market will be online, you should establish a strong presence of yourself and the products you offer on social media.

Using Flyers And Mailers To Let Consumers Know What You Are All About

As you close more and more mortgage loans, real estate agents will be requesting flyers and business cards from you so they can pass them out at open houses or give them to their home buyers. We offer a full 5-star marketing department where we can help you create custom flyers and mailers that already has been approved by our compliance department and is ready for use. It takes seconds to customize the flyers and mailers with your photo and contact information as well as your intended message. You can also add your real estate agent to your flyer and mailers and co-brand the marketing materials.

Getting Started As A New Loan Officer

Mortgage loan officer career opportunities are career positions and are not recommended for someone who is just looking for a job for a year and changing fields. After getting properly licensed, it will take a good year to fully understand the mortgage loan business. Even a mortgage loan officer who is a veteran top producer needs to constantly study the new laws and regulations in the mortgage industry that are constantly changing.

The Importance of Getting The Best New Mortgage Loan Officer Training

Many mortgage loan officers with over ten years of experience still do not know everything and often times when they get into a unique case scenario, they will need to ask our Loan Case. Scenario Help Desk or do their own research by going through the particular loan program’s guidelines. If you are one of those individuals who want to help people and want to help a hard-working individual, couple, or family realize the American Dream of Home Ownership, this career may be for you.

About Us And Mortgage Products We Offer

Gustan Cho Associates a dba of Gustan Cho Associates is a 5-star direct lender with no overlays on government and conventional loans licensed in multiple states. When I say we have no lender overlays, I mean we have ZERO OVERLAYS on government and conventional loans. Only go off AUS FINDINGS. We do not have any overlays so as long as the mortgage loan applicant gets approve/eligible per Automated Findings. We close all of our pre-approvals.

We Close On All Of Our Pre-Approvals

All pre-approvals are full credit approvals signed off by our mortgage underwriters. Over 75% of our borrowers we close are folks who could not get a mortgage loan approval due to that lender’s overlays or borrowers who changed over to us due to stress in the mortgage process. The minimum credit score for a 3.5% down payment home purchase FHA Loan is 580 FICO. Minimum credit scores for Conventional Loans are 620 FICO. Unpaid collections do not have to be paid off as per FHA lending guidelines. We can do loans with judgments and tax liens as long as the borrower has had a three-month payment history and a written payment agreement with the creditor. We do manual underwrites at Gustan Cho Associates.

Remote Mortgage Loan Officer Career Opportunities and Types Of Loan Programs

Gustan Cho Associates offers The Following Loan Programs:

• FHA Loans
• VA Loans
• USDA Loans
• Reverse Mortgages
• Conventional Loans
• Jumbo Loans
• Reverse Mortgages
• FHA 203k Loans
• Non-QM 95% LTV Jumbo Mortgages
• Condotel Loans and Non-Warrantable Condominium Loans
• Loans For Foreign Nationals
• Special Loan Programs such as NON-QM Loans and Bank Statement Loans for Self-Employed Borrowers
• Escrow Advance On Refinance Loans
• One-Time Closing Construction Loans

No Cold Calling Required

Mortgage Loan Officer Career Opportunities With Leads Provided From Day One. Due to the demand for our no mortgage lender overlay mortgage products, we are currently aggressively hiring experienced loan officers and brand new loan officer recruits.

Unlike other mortgage companies, none of our licensed mortgage loan originators cold call or buy leads from mortgage loan lead origination companies.

Every one of our licensed loan officers will be assigned to mortgage loan applicants from day one. As long as you want to keep busy and are willing to work, you do not have to wait for your phone to ring or have to go knocking on doors. Most of our licensed loan officers have a full pipeline of mortgage clients.

How Do I Apply And Get Started

If you have decided that a career as a licensed mortgage loan originator is for you, the first step is to contact me at 262-716-8151 or text us for a faster response. Or email us with your contact information and resume at gcho@gustancho.com. We will have a phone interview and once we determine we will be a mutual fit, then the licensing process starts. Loan Officers who were exempt from licensing due to working at FDIC financial institutions need to go to NMLS LICENSING and get licensed.

Once you get your NMLS ID number, you need to register and complete a 20-hour NMLS Approved pre-licensing course. I can recommend you to several schools or you can find a school of your choice online. Once you complete the 20-hour pre-licensing course, you then need to take your federal NMLS federal exam, which is a three-hour, 125-question examination and receive at least a 75% for a passing grade. Once you have passed your federal NMLS examination, you can then apply for your mortgage loan originator license for the state or states you want to originate loans in.

We, as a company, are licensed in multiple states with our goal being to be licensed in all 50 states. The federal NMLS test will enable you to get licensed in most of the 50 states. There are two states, Minnesota and Arkansas that will require individuals to take a separate exam. Eventually, all 50 states will be part of the federal NMLS system so you do not have to take a separate state exam. Part of the licensing process includes both a federal criminal background examination, state criminal background investigation, and credit check.

Once you are cleared, you will be sponsored and will receive your credentials which include your corporate email address, access to a corporate computer network, credit bureau logins, Fannie Mae and Freddie Mac Automated Underwriting System, and other important and private logins so you can originate loans from wherever you are at. You will receive one-on-one training and the first 20 to 30 files you work with will be with a senior mortgage loan originator. You will not be alone and will be working with a team. We have a family atmosphere and every new recruit is treated as a member of the family. If you want to get started, contact Gustan Cho Associates at 262-627-1965 or text us for a faster response. Or email us at gcho@gustancho.com.

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