Electric Loan Officer

The fact is the largest financial decision most people make in their lives is their home mortgage loan. This can be a very nerve racking process especially if you are not working with the right person. FDIC banks like Wells, Chase, and B of A do not require their mortgage loan originators to obtain a mortgage loan originators license. On the other hand, independent loan officers who work directly for non depository mortgage banks must undergo an extensive background check, finger printing, credit report check, hours of classes plus pass both a state and a national level test. After they pay the quite costly fees associated with this process and pass both of the tests they are then able to obtain their license and do business. This does not end here, as a licensed loan originator you must take a certain number of require “continuing education” credits each year to keep you up to date and maintain the active status of their licenses.

The point here is that you should choose a mortgage professional wisely as this could cost you alot in the long run, and why choose someone who is held to a much lower standard? Choose and licensed mortgage banker and you will be glad you did!

Have a mortgage question? Feel free to contact us for an answer!