Honest Mortgage Answers

Loan officers.....

I have been thinking about the difference between a loan officer and a mortgage advisor for some time and feel that I have come to an answer as of late. I started out my mortgage career in the mid 90's as a Loan Officer. I was a salaried employee that was given perks to SELL particular loan products. We didn't have many at the time and I was subject to "in the box" loan programs. In other words, if your scenario didn't fit in the company's "box" of qualifications, you were out of luck. And the truth of it is, you were better off. The company I worked for had horrible loan programs and rates and they only offered loans to customers that were qualified for MUCH better terms. (I won't go into detail)

After a couple of years of working under those conditions, I began to feel discontent with my company. Yes, I was compensated WELL and had all the perks that a large corporation has to offer. Yes, I had the opportunity to go far in the company and someday make well over $400,000 plus per year. (That is not an exaggeration). What was the problem? My customers were not benefiting from the loan programs I was PAID TO SELL TO THEM. <----- that is the difference folks. A Loan Officer is paid to sell a product. Yes, a product. Generally, there is a quota and an incentive to sell a particular type of loan. The problem is that you, as a consumer, are getting the short end of the stick. On average, the loan officer does more harm than good to the borrower. Well, I moved on and find myself at this moment typing my feelings on the subject as a Mortgage Advisor. Do I sell loan products? Thankfully, no I don't. Do I make less money? Truthfully, I make ALOT less money. Do I feel good about the service I offer my clients? ABSOLUTELY.

I love what I do. I am able to help countless numbers of people every year just by being honest, open, and direct with my clients. I went from selling loans to getting to know people, their goals, and their needs. Knowing all of that, I can perform effectively as an Mortgage Advisor. I study the loan programs and have access to unlimited "out of the box" possibilities. Am I a mortgage broker? Yes and I love it. I love the email I receive from past clients thanking me for my honesty, integrity, and experience. I love the look on a first time homebuyers face when they are handed the keys to their new home even though they thought it was impossible. It makes my day, week, month, and year. I love being the "one stop shop". I love saying, "Yes, I have a program that will allow you to purchase a home or save hundreds of dollars a month." What more can I say?

If you have excellent credit, I can help you get a better interest rate than the bank 9 times out of 10. If you have poor credit, I can help you obtain a reasonable loan to start and put you on the path to acheiving excellent credit. All that is required to start is a little faith, time, and effort on your part. I look forward to earning your trust and your business.

Posted by Jason Lash at 10:56 AM