How and Why I Became a Loan Officer

After being in school for my whole life, it was a weird feeling on the day of my graduation from the University of West Florida (UWF) knowing that my school days were behind me and all that was ahead was finding a career I could enjoy and make a living in. I always performed well in school and never disliked it, but I was definitely ready to hang my diploma on the wall and find a job so I could start paying my own bills and become financially independent. I graduated from UWF with a degree in Business Management, a minor in Marketing, and a certificate in Human Resources. As the president of the American Marketing Association (AMA) my junior and senior year of college, I was planning on pursuing a career in marketing.

After sending my resume to hundreds of employers and having a dozen or so interviews, I wasn’t finding the job I was looking for. The jobs I was applying for and even a couple I received job offers from were all entry-level positions. Although my resume was solid and with a good amount of experience, my options were still minimized to entry-level positions because I, in fact was now just entering the workforce full-time. Since I wasn’t finding anything I was crazy about near UWF, I decided to visit my family in Chicago and apply for some jobs there. After all, the market in Chicago is much bigger compared to Pensacola, Florida. I lined up several interviews for the week I would be home, including my childhood’s best friend parents, the Solarte’s, at a mortgage broker.

I enjoyed being home again for a while to see all my family as well as some friends that have moved back to our hometown after school. My first interview was at a marketing company and it went quite well so I received a follow up interview the following day. The interview would be in the field on the job and all day, requiring me to cancel two other interviews I had scheduled for that day. Although I wasn’t sold on the company yet, I decided to accept the follow-up interview and see what it would be like.

On my way home from my original interview, I stopped by the Solarte’s mortgage company, which was 10 minutes from my house, to talk to them about what it would be like working for them. I didn’t know much about the mortgage industry other than people buy houses and they can’t get approved for a loan unless they meet a set of requirements. Not that I knew what those requirements were. They told me that the position I would be working towards is a Mortgage Loan Originator, which is the person that gives loans to clients that are looking to buy or refinance a house. It would be a position that I get paid commission based on every deal I close. If I were to accept this job, I would move back home and register for a mortgage class so I could go about getting my license in Illinois. Once I finished that class, I would work for the Solarte’s part-time doing administrative work to learn the mortgage industry while also studying for an exam that I had to pass in order to receive my license. Once I passed and met all the requirements, I could start my position as a Loan Originator.

After meeting with the Solarte’s at their company, Emerald Mortgage Corporation, I went home that day to think about this great opportunity I had right in front of me. Still home for several more days and having as much time as I needed to decide, I had no hurry to come up with my decision. The following day, I drove 40 minutes to my follow-up interview with the marketing company for my field work interview. I would spend all day watching an employee do his work while he would also put me in a series of tasks to see how my mind worked and if I would do well at this job. I got to the interview in the morning but I wouldn’t be getting home till night time. When we got back to the office at night, the manager was hiring people on the spot and planning on having them start immediately. The manager finally called my name and I went into his office. He asked me why he should hire me over someone else. At this point, I told him that he shouldn’t hire me because although I had plenty of time to decide, my heart and my head told me that working for the Solarte’s at their mortgage company was too good of an opportunity to pass up. I still remember the surprised look on the manager’s face when I told him that. But I didn’t want him to hire me over someone else just so when he offered me the job, I would eventually turn it down. After the week was over, I drove back down to Florida where all my stuff was knowing that I would be moving back home to start working at Emerald Mortgage Corporation.

In the end, there were many reasons why I decided to start working at Emerald Mortgage. One of the most obvious reasons was the fact that I would be moving back home to be close to my family. Being in Florida for the last three years, this was important to me with my college journey coming to an end. In college, I discovered a passion for marketing and is why I got involved and became the president of the American Marketing Association. Although mortgaging and marketing are very different, I knew I would have to market myself as a loan officer to get new clients and continue to use my love of marketing in my work. In addition, working for my best friend’s parents that I have known for the past 17+ years was something I desired. They have seen me grow into the person I am today and they know my work ethic and have already established trust. With that trust, they felt confident in my abilities and giving me real responsibility rather than what I would receive in a typical entry-level position. This was something I probably desired most of all. Although I started working a 9-5 schedule, I knew I was working towards a less traditional schedule. This schedule would be more flexible. I would work when a client needed me and when I am seeking a new client. This would mean that I would work later nights and on weekends sometimes but I had that flexibility. With this flexibility, I could travel and go on more vacations if and when I desired. Although I would still have to keep my phone on me and do some work while on vacation, I would enjoy this lifestyle.

Another reason why I knew this job would be so valuable would be because, while many people change companies and job positions dozens of times in their lifetime, taking a job as a Loan Officer was something I could see myself doing for the rest of my life and becoming an expert over a full career in this field and position. Since almost all people eventually buy their own home, I knew I could do this job anywhere because there is a market everywhere. So if I wanted to move in the distant future, that would be much less of a problem. I would have to find a company that would be willing to sponsor me so my license would be valid in that state, but if I am working for commission and can bring in additional money for that company, what company wouldn’t want to hire someone in my position? And, I always have the option of starting my own company and being my own boss in this industry. If people are willing to buy houses from me as their broker, then all I need is the license and other requirements to start a company because I already have the hard part done of having existing clients. Of course, working for straight commission can be and is scary, especially in the beginning. There is less stability and if I’m not closing deals, then I am not getting paid. But in my opinion, creating your own business as a salesperson is one of the most rewarding ways to make money and a living. Because ultimately, you are betting on yourself and your abilities. You are accepting you never have a sure thing but you put in all this hard work and extra hours, and when it pays off, it is a great feeling. It is often very rewarding and quite profitable. But shouldn’t it be? After all, other salespersons and I are the ones making the risks and if we can create business on who will buy our product or service, we should be compensated comfortably, at least in my opinion.

If I am going to be compensated by commission, that means I better be working in a profitable market in which provides a need to many people so I figured the US Housing Market wouldn’t be a bad place to start my career. By becoming knowledgeable in this field, I can also expand my knowledge about investing in real estate to make additional income down the line. When I get older and save up some money, I will want to own a house that I can call my home. Most people in the United States are like me and have this same idea. Many consider the American Dream to start their families and purchase a home for them and children to grow up in. If almost all American’s have this dream, then I have a very large market to pursue and can focus on a special niche that can make me unique and get the clients I need to live a long and prosperous life.

So why did I decide to start working for my best friend’s parents in the mortgage industry? Because the opportunity was too good to pass up.